In the world of cryptocurrencies, where Bitcoin’s dominance is undisputed, many altcoins are trying to find their place. Ethereum leads the list, while cryptocurrencies like Solana and BNB also join the process. Besides these, meme coins, which many investors consider to have no real value, continue to rise rapidly in market cap rankings. So, what’s happening at the top of the meme coin world right now?
Dogecoin’s Current Price
Dogecoin (DOGE), the undisputed leader in terms of volume among meme coins in the cryptocurrency world, still seems to be doing a good job as the pioneer of the sector. In the past, DOGE, which gathered a large following thanks to Elon Musk‘s significant support and the advantage of being a pioneer, seemed to be getting back on track today.
After a nearly 1% rise in the last 24 hours, DOGE is trading at $0.1358. Although this seems insufficient to erase the 7.41% drop experienced in the last 7 days, it presents a positive outlook.
The change in DOGE’s price also reflected in its market cap, which stands at $19.65 billion, just below the $20 billion mark. Additionally, its 24-hour trading volume is around $440 million. Whether DOGE will ever reach the $1 mark remains a topic of curiosity.
Shiba Coin Comments
The market’s number two meme coin, the former DOGE killer Shiba Inu (SHIB), seems to be experiencing a price recovery. SHIB’s price is trading at $0.00002067, influenced by a 2.81% rise in the last 24 hours.
SHIB’s market cap stands at $12.1 billion, indicating a gap of over $7.5 billion compared to DOGE. Despite this, it also seems similarly distant from its closest competitor, PEPE.
SHIB’s 24-hour trading volume was around $228 million at the time of writing.
PEPE Coin Price Outlook
The first frog-themed meme coin in the market and one of the stars of 2023, PEPE, also seems to be doing well. The stable outlook in the market seems to have triggered a small recovery in PEPE.
After continuously hitting new all-time highs in recent weeks, PEPE’s price is trading at $0.00001175 following a 2.22% rise in the last 24 hours. PEPE’s market cap stands at $4.941 billion, while its 24-hour trading volume of $619 million surpasses all its examined competitors.
WIF Coin is Rising
Lastly, dogwifhat (WIF), the star of the Solana network, which has been making waves towards the end of 2023 and into 2024, is another meme coin experiencing a rise.
WIF’s price was at $2.40 following a 1.52% rise, although a 10.58% drop in the last 7 days is also noteworthy. WIF’s market cap stands at $2.398 billion, and it had briefly surpassed PEPE in recent months. WIF’s 24-hour trading volume was $235 million.
After Bitcoin’s downward movement gave way to a stable outlook, whether meme coins can quickly recover remains a significant question among investors. However, considering the current conditions, it wouldn’t be wrong to say that the small rises during the day have pleased investors.
