In the past week, meme coins have been on a roll, with shiba inu (SHIB) leading the top five pack, gaining 35.5% against the U.S. dollar over seven days. However, the real standout was MOODENG, the meme token inspired by a baby pygmy hippopotamus from Thailand. The newly launched Solana-based coin hit its all-time high on Friday, climbing to $0.3387. By Saturday, MOODENG was cruising along at $0.3052.
Meme Coin Market Booms
Meme coins had quite the week, with the market jumping 8% against the U.S. dollar in the last 24 hours. As of noon Eastern Time on Sept. 28, the meme token economy reached a value of $56.99 billion.
DOGE/USD on Sept. 28, 2024, via Coinbase.
Leading the pack in market capitalization is dogecoin (DOGE), sitting at $19.12 billion. DOGE enjoyed a 21.4% boost this week, now trading at $0.1313 per coin. Shiba inu (SHIB) outshined the top five meme coins, taking the lead with a 35.5% climb. Currently, SHIB is priced at $0.00002001, though it’s down 5.4% over the past 24 hours.
MOODENG/USDT on Sept. 28, 2024, via HTX.
The real star of the week was MOODENG, the meme token inspired by the baby pygmy hippo from Thailand’s Khao Kheow Open Zoo. Yesterday, it soared over 1,400% during the week, and today, its seven-day performance still shows an impressive 713.8% gain.
MOODENG now boasts a market valuation of $305 million, making it the 218th largest by market cap. Other meme coins also had a strong showing, with ordinals pups (PUPS) climbing 170%, billion dollar cat (BDC) rising 156.9%, and spx6900 (SPX) gaining 149% over the week.
However, not every meme coin shared the spotlight—coco coin (COCO) dropped 50%, and tron bull (BULL) slid 18.6%. As the meme coin market continues to captivate investors this year, it’s clear that volatility remains the name of the game.
