{"id":13574,"date":"2024-05-16T16:36:18","date_gmt":"2024-05-16T13:36:18","guid":{"rendered":"https:\/\/forklog.com\/en\/meme-coins-outperform-broader-cryptocurrency-market\/"},"modified":"2024-05-16T16:36:18","modified_gmt":"2024-05-16T13:36:18","slug":"meme-coins-outperform-broader-cryptocurrency-market","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/meme-coins-outperform-broader-cryptocurrency-market\/","title":{"rendered":"Meme Coins Outperform Broader Cryptocurrency Market"},"content":{"rendered":"<p>In the past 24 hours, the total capitalization of meme tokens rose by 8.1%, surpassing the broader crypto market&#8217;s growth of 5%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/hZnbERQX5jx62Zv8UNOIZ-V1gF9AdxIXjiu-e-_hYC9WFUSsdImWEiD1kCpLf3hBtW17mzdI68_x8Ndkm_d0FTNHsL8yMv5JaEGum03OltrcAUIJUj2KcXTy1IXZMaesavc1mHZPlIcWpbTpzhXaKfY\" alt=\"Meme Coins Outperform Broader Cryptocurrency Market\"\/><figcaption class=\"wp-element-caption\">Meme coin capitalization. Data: <a href=\"https:\/\/www.coingecko.com\/en\/categories\/meme-token\">CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n<p>PEPE showed the most significant increase in the category, rising nearly 27% over the week to reach a new all-time high of $0.000011.\u00a0<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/37428\" data-width=\"100%\"><\/script><\/p>\n<p>The main meme tokens \u2014 DOGE, FLOKI, and SHIB \u2014 grew by 3.4%, 8.9%, and 22.1%, respectively.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/_Z4kEWTmcZ6G_zh6GTBtlPP8mKVCwChcq93qUPpKOHBfA7gzU1nBoTAp-TtZ1yuGwBjzSmM4nWFYdWhzzrk1ZMqxTLaU-G7VJk3q85BsY8sb9CIfrUL9UB0bEN2KZu5Ra0GW5sh-6hb9PyDBMlbE04Q\" alt=\"Meme Coins Outperform Broader Cryptocurrency Market\"\/><figcaption class=\"wp-element-caption\">Dynamics of major meme tokens. Data: CoinGecko.<\/figcaption><\/figure>\n<p>The five largest meme coins account for approximately 77% of the sector&#8217;s total capitalization of $56.4 billion.\u00a0<\/p>\n<p>Crypto trader DonAlt suggested that while the rest of the market remains stable, meme tokens could face significant losses.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I&#8217;m personally convinced it&#8217;s over for memes, rest of the market might get out of this ok but I&#8217;m expecting memes to giga rug<\/p>\n<p>GL if your portfolio is in the 10th iteration of a dog or a cat<\/p>\n<p>\u2014 DonAlt (@CryptoDonAlt) <a href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/1790768872917742029?ref_src=twsrc%5Etfw\">May 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I&#8217;m personally convinced it&#8217;s over for memes, rest of the market might get out of this ok but I&#8217;m expecting memes to giga rug. Good luck if your portfolio is in the 10th iteration of a dog or a cat,&#8221; he stated.<\/p>\n<\/blockquote>\n<p>MN Trading founder Micha\u00ebl van de Poppe examined the broader altcoin market. In his view, the dips in the market capitalization chart of the segment likely indicate reaching or nearing a local minimum.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Given the wicks on the <a href=\"https:\/\/twitter.com\/hashtag\/Altcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoin<\/a> market capitalization chart, it seems likely that the low is in or close.<\/p>\n<p>The markets have been suffering a strong correction, through which it seems likely that this won&#8217;t last from here and the reversal is on the horizon. <a href=\"https:\/\/t.co\/N7C2GAdtlv\">pic.twitter.com\/N7C2GAdtlv<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1791027055213125961?ref_src=twsrc%5Etfw\">May 16, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The markets have been suffering a strong correction, through which it seems likely that this won&#8217;t last from here and the reversal is on the horizon,&#8221; the analyst added.\u00a0<\/p>\n<\/blockquote>\n<p>Previously, Synthetix founder Kain Warwick described meme tokens as a valuable tool for attracting traders to DEX.<\/p>\n<p>Back in March, CryptoQuant CEO Ki Young Ju <a href=\"https:\/\/u1f987.com\/en\/news\/cryptoquant-ceo-criticizes-meme-coin-surge\">expressed concern<\/a> over the boom in this area of cryptocurrency. According to the expert, such projects harm the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the past 24 hours, the total capitalization of meme tokens rose by 8.1%, surpassing the broader crypto market&#8217;s growth of 5%. Meme coin capitalization. Data: CoinGecko.\u00a0 PEPE showed the most significant increase in the category, rising nearly 27% over the week to reach a new all-time high of $0.000011.\u00a0 The main meme tokens \u2014 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1145,1161],"class_list":["post-13574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-market-analysis","tag-memes"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=13574"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/13574\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/13573"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=13574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=13574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=13574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}