{"id":4791,"date":"2024-08-20T09:04:30","date_gmt":"2024-08-20T09:04:30","guid":{"rendered":"https:\/\/cryptd.in\/this-meme-coin-stuns-crypto-markets-with-massive-gains-as-sector-bounces\/"},"modified":"2024-08-20T09:04:30","modified_gmt":"2024-08-20T09:04:30","slug":"this-meme-coin-stuns-crypto-markets-with-massive-gains-as-sector-bounces","status":"publish","type":"post","link":"https:\/\/cryptd.in\/pl\/this-meme-coin-stuns-crypto-markets-with-massive-gains-as-sector-bounces\/","title":{"rendered":"This Meme Coin Stuns Crypto Markets with Massive Gains as Sector Bounces"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Cat-themed meme coins surged, leading a meme coin rally that pushed the sector\u2019s market cap above $40 billion.
\nDogecoin (DOGE) also headed north, potentially boosted by Elon Musk\u2019s recent Dogecoin-related post.<\/p>\n

<\/a><\/span><\/h2>\n

Cat-Themed Memes Lead the Pack<\/span><\/h2>\n

After a prolonged period of <\/span>underperforming<\/span> the meme coin sector has once again headed north. Its market capitalization surpassed $40 billion several hours ago, <\/span>with many assets charting<\/span> impressive gains.<\/span><\/p>\n

Some of the top performers include cat-themed meme coins such as Popcat (<\/span>POPCAT<\/span>), Mog Coin (<\/span>MOG<\/span>), and<\/span> Cat in a Dogs World (MEW). <\/span>POPCAT<\/span> is up nearly 30% <\/span>on a daily scale<\/span>, reaching $0.50, while the others experienced increases of around 14%.<\/span><\/p>\n

<\/a>POPCAT Price, Source: CoinGecko<\/p>\n

Dog-themed memes have also performed <\/span>quite<\/span> well, albeit trailing behind the cat-themed rivals. <\/span>The <\/span>biggest<\/span> Solana-based meme coin and the fourth-largest in the entire niche \u2013 <\/span>dogwifhat<\/span> (WIF) \u2013 has pumped by 15% in the past 24 hours, nearing $1.60.<\/span> Floki Inu (<\/span>FLOKI<\/span>) has risen <\/span>przez<\/span> 7%, whereas Bonk Inu (BONK) has spiked <\/span>przez<\/span> 6%.<\/span><\/p>\n

The leading meme coins in terms of total market capitalization<\/span> \u2013 <\/span>Dogecoin (DOGE) and Shiba Inu (<\/span>SHIB<\/span>)<\/span> \u2013 <\/span>have also recorded some resurgence. The former\u2019s price is up 5%, while its market cap <\/span>exceeded<\/span> $15 billion.<\/span><\/p>\n

The self-proclaimed Dogecoin killer \u2013 <\/span>SHIB<\/span> \u2013 witnessed similar gains. Its market cap crossed $8 billion, positioning the asset as the 16th biggest in the <\/span>entire<\/span> crypto sector. The 15th spot belongs to Avalanche (<\/span>AVAX<\/span>), whose capitalization currently stands at around $8.8 billion.<\/span><\/p>\n

It is worth noting that the revival in the meme coin cohort coincides with a broader uptrend of the entire cryptocurrency market. Bitcoin (BTC) <\/span>surpassed<\/span><\/a> $61,000, Ethereum (ETH) is inching toward $2,700, whereas Binance Coin (<\/span>BNB<\/span>) has jumped by 7% daily.<\/span><\/p>\n

Musk\u2019s Potential Influence<\/span><\/h2>\n

Numerous industry participants speculated that the resurgence of the meme coin sector, particularly Dogecoin (DOGE), could <\/span>have some connection<\/span> to one of Elon Musk\u2019s latest interactions on X.<\/span>\u00a0<\/span><\/p>\n

Earlier today (August 20), Tesla\u2019s <\/span>CEO<\/span> posted<\/span><\/a> a picture depicting him as the head of an imaginary <\/span>US<\/span> entity called \u201cDepartment of Government Efficiency,\u201d or <\/span>D.O.G.E.<\/span> (quite similar to the abbreviation of the largest meme coin).<\/span><\/p>\n

Musk is known as a firm supporter of Dogecoin, praising its merits and endorsing it on the social media <\/span>platform multiple times<\/span>. The price of the asset <\/span>often<\/span> heads north after such actions.<\/span><\/p>\n

In mid-March, DOGE\u2019s valuation <\/span>spiked<\/span><\/a> by almost 15% after Musk said Tesla may accept the token as a payment method.\u00a0<\/span><\/p>\n

Two months later, the <\/span>EV<\/span> giant officially <\/span>integrated<\/span><\/a> it as a settlement option on its website, <\/span>which <\/span>by\u0142<\/span> followed<\/span> by another price uptick.<\/span><\/p>\n

Stanowisko This Meme Coin Stuns Crypto Markets with Massive Gains as Sector Bounces<\/a> pojawi\u0142a si\u0119 najpierw na CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Cat-themed meme coins surged, leading a meme coin rally that pushed the sector\u2019s market cap above $40 billion. Dogecoin (DOGE) also headed north, potentially boosted by Elon Musk\u2019s recent Dogecoin-related post. Cat-Themed Memes Lead the Pack After a prolonged period of underperforming the meme coin sector has once again headed north. Its market capitalization […]<\/p>\n","protected":false},"author":0,"featured_media":4792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nThis Meme Coin Stuns Crypto Markets with Massive Gains as Sector Bounces - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/pl\/this-meme-coin-stuns-crypto-markets-with-massive-gains-as-sector-bounces\/\" \/>\n<meta property=\"og:locale\" content=\"pl_PL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This Meme Coin Stuns Crypto Markets with Massive Gains as Sector Bounces - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"TL;DR Cat-themed meme coins surged, leading a meme coin rally that pushed the sector\u2019s market cap above $40 billion. Dogecoin (DOGE) also headed north, potentially boosted by Elon Musk\u2019s recent Dogecoin-related post. Cat-Themed Memes Lead the Pack After a prolonged period of underperforming the meme coin sector has once again headed north. 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