- Meme cryptocurrencies including PEPE, SHIB, and FLOKI are outperforming the top 100 benchmark, demonstrating significant growth.
- These meme coin-related segments are trending, with dog-themed and cat-themed coins showing notable increases.
- Despite a volatile weekend, the crypto market as a whole has shown a slight increase, with Bitcoin leading the charge.
Amidst a volatile crypto market, meme cryptocurrencies PEPE, SHIB, and FLOKI are making waves, outperforming the top 100 benchmark and driving growth in meme coin-related segments.
PEPE, SHIB, FLOKI Outperform Top 100 Benchmark
On May 13, 2024, the largest meme coins showed the best 24-hour performance out of the top 100 cryptocurrencies by market capitalization. PEPE, a popular meme coin on Ethereum and Arbitrum, led the pack with nearly 10% growth. FLOKI, another dog-themed cryptocurrency, showed similar growth, while Shiba Inu (SHIB) added 7.4% overnight. Even Dogecoin (DOGE), the largest meme crypto by capitalization, surged by 5.6%, pushing its capitalization over $21 billion.
Meme Coin-Related Segments Trending
While the crypto market as a whole added only 1.7% overnight, meme coin-related segments demonstrated significant growth. Cat-themed coins, driven by local rallies of POPCAT, MOG, and other minor cat coins, added 14.5% in 24 hours. Meme coins and dog-themed coins followed closely, becoming the fourth and fifth fastest-growing segments according to CoinGecko data.
Bitcoin Leads Crypto Market Recovery
Despite a choppy weekend, the crypto market is showing signs of recovery. Bitcoin, the largest cryptocurrency, jumped by 2.7% overnight, contributing to the overall market increase of 1.7%.
Conclusion
As the crypto market navigates through volatility, meme cryptocurrencies are carving out their own success. With significant growth and trending segments, coins like PEPE, SHIB, and FLOKI are demonstrating the potential of meme coins in the crypto market. As the market continues to recover, these meme coins could potentially lead the way in terms of growth and popularity.
