According to data from Santiment, the meme coin sector has been outperforming all other crypto assets in the second quarter of the year. Several meme coins have experienced substantial price increases, with trading volumes for the sector surging by an impressive 136% over the past week.
What you'll learn 👉
Top-performing meme coins”
- Pepe ($PEPE): +100%
- Current Price: $0.00001052
- 24h Low/High: $0.00001004 / $0.00001156
- All-Time High: $0.00001156 (May 15, 2024) – 9.51% down from current price
- Ponke ($PONKE): +96%
- Current Price: $0.2296
- 24h Low/High: $0.2029 / $0.2551
- All-Time High: $0.2551 (May 16, 2024) – 10.01% down from current price
- MAGA ($MAGA): +80%
- Current Price: $9.07
- 24h Low/High: $7.28 / $9.63
- All-Time High: $11.56 (Mar 04, 2024) – 21.51% down from current price
- Turbo ($TURBO): +78%
- Current Price: $0.001225
- 24h Low/High: $0.001008 / $0.001337
- All-Time High: $0.003049 (May 06, 2023) – 59.83% down from current price
- HarryPotterObamaSonic10Inu ($BITCOIN): +76%
- Current Price: $0.1176
- 24h Low/High: $0.1168 / $0.1403
- All-Time High: $0.26 (Mar 10, 2024) – 54.83% from current price
The recent surge in meme coin prices and trading volume highlights the growing interest and demand for these speculative assets. Meme coins, often inspired by popular internet memes or cultural references, have gained huge following among cryptocurrency enthusiasts and speculative investors.
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Show more +Factors Contributing to the Meme Coin Surge
Several factors may have contributed to the recent surge in meme coin prices and trading activity:
- Increased Retail Investor Participation: Meme coins often attract a large number of retail investors due to their low entry barriers and the potential for significant short-term gains.
- Social Media Hype: Meme coins heavily rely on social media buzz and community engagement to drive price appreciation. The recent surge may have been fueled by increased social media activity and viral marketing campaigns.
- Speculative Nature of the Market: The cryptocurrency market is known for its speculative nature, and meme coins often benefit from the “fear of missing out” (FOMO) sentiment among investors.
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