In the wake of Bitcoin’s Monday surge, several altcoins have experienced notable gains. The world of meme coins, popular during 2021 and 2022, is once again seeing double-digit increases.
Altcoins Riding Bitcoin’s Wave
Bitcoin’s rally has had a ripple effect on select altcoins. While Mina led the way with an impressive surge of over 100% this week, meme coins have also witnessed substantial growth.
PEPE Steals the Spotlight
Among meme coins, the most remarkable increase in value came from PEPE, which has seen a 90% surge in the past week. The green-themed meme coin has now registered a whopping 95% increase over the last 15 days. DOGE, famously branded as “Elon Musk’s coin” and a highlight of the first half of 2021, has witnessed a 25% growth on a weekly basis. SHIB, which made headlines in the latter part of 2021, has also risen by 18% in the past seven days.
Lesser-Known Gems Like FLOKI
FLOKI, although not as widely recognized as the others, had once gained significant popularity among Turkish investors. Over the past 24 hours, it has surged by 20%, and in the last week, its value increased by 70%. However, it’s important to note that these meme coins are still far from their all-time high prices. In fact, they are currently trading at roughly one-tenth of their peak values.
As the crypto market continues to evolve, meme coins are once again capturing the imagination of investors, showing that they can experience significant surges even when compared to more established cryptocurrencies like Bitcoin. These altcoins are demonstrating the dynamism and speculative nature of the crypto space, where investor sentiment and community-driven movements can lead to rapid and substantial price movements. While the future remains uncertain for meme coins, they continue to be an intriguing and exciting part of the cryptocurrency landscape, offering investors both opportunities and risks that should not be overlooked.
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