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Meme coins are lighting up the crypto market this weekend, with pepe (PEPE)—the token inspired by the iconic green frog meme—leaping 13.7% against the U.S. dollar, pushing its market cap beyond $10 billion.
From Jokes to Riches: Meme Coins Soar as Market Hits $148B
As of Saturday, the total meme coin economy has climbed to $148 billion, with all 20 of the top meme coins showing gains. Among them, pepe (PEPE) has surged to $0.00002464, a new all-time high, marking a 137% jump over the past month. Meanwhile, dogecoin (DOGE) and shiba inu (SHIB) are also riding the wave with increases of 4.5% and 2.9%, respectively.
PEPE/USD on Dec. 7, 2024.
Other meme tokens are joining the party, including dogwifhat (WIF), up 11.8% today and boasting a 62.7% increase over the last month. Bonk (BONK) added 8.8%, while floki (FLOKI) saw a 13.2% lift. Baby doge coin (BABYDOGE) leads the pack with a jaw-dropping 73.6% gain today. Among other standout performers, turbo (TURBO) climbed 19.7%, dog go to the moon (DOG) increased 13.5%, and alchemist AI (ALCH) rocketed 53.5%, making it the second-largest gainer after BABYDOGE.
By 2 p.m. EDT on Saturday, the meme coin market recorded $29.75 billion in global trade volume over the past 24 hours. This lively trading activity reflects a vibrant interest among crypto enthusiasts, as billions pour into these quirky yet profitable tokens. Meme coins are drawing attention not just as speculative investments but as examples of the unexpected, community-driven shifts in cryptocurrency trends.
BABYDOGE/USDT on Dec. 7, 2024.
This weekend’s stellar performance across meme coins highlights the power of humor and shared culture in shaping crypto economics. As traders rally behind these tokens, the trend showcases how creativity and collective enthusiasm can transform niche assets into global sensations, redefining what creates value in the digital currency space.
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