Cat Memes Lead the Pack in Meme Coin Surge
- The meme coin market cap surged to nearly $45 billion, with certain cat-themed tokens standing among the best performers.
- Neiro (NEIRO) saw explosive growth, up 1,400% monthly, and has a market cap of $350 million.
Cat Memes Take the Lead
The meme coin sector has witnessed a substantial resurgence in the past 24 hours, with its market capitalization rising to almost $45 billion. The revival aligns with the overall bullish condition of the cryptocurrency industry following the US Fed’s decision to cut interest rates for the first time in nearly four years.
The leading meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), are up 4% and 7%, respectively. Pepe (PEPE), Floki Inu (FLOKI), and dogwifhat (WIF), which round up the top 5 list, are also well in the green. However, the main stage belongs to certain cat-themed meme coins. Popcat (POPCAT) saw its price soaring by 30% daily, whereas Mog Coin (MOG) spiked by 15%.
Cat in a Dogs World (MEW) should also be placed among the notable gainers. Its valuation jumped by 22% on a 24-hour scale after the leading South Korean crypto exchange Upbit allowed trading services with the token.
NEIRO Keeps Impressing
Another meme coin that we will touch upon is the recently-launched Neiro (NEIRO). Its price is up a whopping 1,400% monthly and 1,900% weekly, currently trading at around $0.0008418 (per CoinGecko’s data).
As of now, NEIRO’s market capitalization stands at $350 million, making it the 13th-largest in its realm. The exponential growth started shortly after Binance introduced the NEIRO/USDT trading pair on its platform earlier this month. Shortly after, the Indonesian-based LBank Exchange also allowed users to deal with the coin.
Market Analysis
As of now, NEIRO’s market capitalization stands at $350 million, making it the 13th-largest in its realm. TraderSZ predicted that the figure could rise to $500 million soon, while GGsOnly was even more optimistic, envisioning an increase toward the $1 billion milestone.
Meanwhile, NEIRO’s trading volume in the past 24 hours reached almost $700 million, thus surpassing SHIB ($393 million), WIF ($638 million), and FLOKI ($350 million). This development typically indicates increased market activity, where a large number of people buy and sell the asset. It could also be associated with better liquidity and potential volatility in the short term.
What’s Next?
As the meme coin market continues to surge, investors are eagerly awaiting potential developments that could further increase the value of these coins. With market capitalizations reaching new highs, we may see increased liquidity, and potentially even more notable gains in the coming weeks.
FAQs
- What is the meme coin market cap currently standing at?
- The meme coin market cap has surged to nearly $45 billion.
- What are some of the leading meme coins currently performing well?
- Dogecoin (DOGE) and Shiba Inu (SHIB) are up 4% and 7%, respectively.
- Popcat (POPCAT) saw its price soaring by 30% daily, whereas Mog Coin (MOG) spiked by 15%.
- Which meme coin is currently trending?
- Neiro (NEIRO) is currently up 1,400% monthly and 1,900% weekly, and has a market cap of $350 million.
- Why is the meme coin market experiencing a resurgence?
- The surge aligns with the overall bullish condition of the cryptocurrency industry following the US Fed’s decision to cut interest rates for the first time in nearly four years.
Conclusion
The meme coin market has witnessed an explosive surge in the past 24 hours, with cat-themed tokens taking center stage. With market capitalizations reaching new highs and trading volumes skyrocketing, we may see increased liquidity and potential volatility in the short term. As the market continues to evolve, investors are eagerly awaiting potential developments that could further increase the value of these coins.
