- Bitcoin (BTC) was able to break above and remain above $35K over the past 24 hours.
- The meme coin sector benefited from BTC’s price pump as the sector’s valuation rose more than 3%.
- DOGE, SHIB, FLOKI, and PEPE were all able to record fair gains over the past 24 hours.
The meme coin sector received a capital injection over the past 24 hours as traders cashed in their profits from Bitcoin (BTC) and bought into the smaller-capped meme coins. According to CoinMarketCap, the market leader was changing hands at $35,291.17 after a 2.41% gain. This latest gain also pushed BTC’s weekly performance up to +1.65%.
The meme coin market followed suit, as the sector’s collective valuation rose 3.04% during the same period. Subsequently, the market cap for meme coins stood at $16,375,551,902 at press time. This increase was mainly driven by the largest meme coins in terms of market cap, as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Floki (FLOKI) all posted 24-hour gains.
Meanwhile, the trading volume for meme coins also increased by 5.56% throughout the past day of trading. This boosted the total volume to $1,072,801,612 as a result.
The meme coin leader, DOGE, was trading hands at $0.06942 after its price increased 3.50% over the past 24 hours. This positive daily performance, however, was not enough to bring DOGE’s weekly performance out of the red zone. As a result, the meme coin was still down 2.66% over the past 7 days.
SHIB and PEPE were able to print respective gains of 3.32% and 2.54% throughout the past day of trading. Subsequently, SHIB was valued at $0.000007932, while PEPE’s price was boosted to $0.000001155 following the latest increase.
FLOKI was the only meme coin in the top 4 list that was able to flip its weekly performance. At press time, CoinMarketCap data indicated that FLOKI’s price was up 1.79% over the past 7 days. This was after its price rose 3.36% during the past 24 hours of trading. As a result, the meme coin was valued at $0.0000323.
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