TL;DR
- The meme coin sector surged in the past 24 hours, with its market cap touching $120 billion. DOGE and SHIB are well in the green, but some of their rivals have outperformed them in terms of daily gains.
- Trump-themed coins, including MAGA and MAGA HAT, also rallied amid hype surrounding the Republican’s upcoming inauguration.
A Green Day for the Memes
The cryptocurrency sector endured the tough times at the beginning of the week, soaring substantially in the last 24 hours. Its global market capitalization surged past $3.6 trillion, with many leading assets (including BTC, XRP, and others) charting impressive gains.
The situation in the meme coin niche is also quite bullish. Its market cap has risen by 6.5% on a daily scale, reaching $120 billion once again. Dogecoin (DOGE) – the undisputed leader of the realm – is up 5%, while its biggest rival, Shiba Inu (SHIB), has pumped by 4%.
Some of the best performers include dogwifhat (WIF), whose price shot by 15% in the past 24 hours, and Peanut the Squirrel (PNUT), which jumped by approximately 10% for the same period. Other notable gainers include Toshi (TOSHI), Fartcoin (FARTCOIN), Popcat (POPCAT), MEOW (MEOW), Zerebro (ZEREBRO), and many more.
TOSHI made the headlines on January 15, when its valuation skyrocketed by over 100%. This happened shortly after Coinbase added the asset to its roadmap section.
Trump-Themed Memes are on the Rise, too
The recent resurgence of the cryptocurrency market has also positively affected meme coins related to the upcoming US president Donald Trump.
MAGA (TRUMP) has climbed by 9% on a daily scale, while MAGA HAT (MAGA) is up 17%. Lesser-known tokens, including Dark MAGA (DMAGA), MAGA: Fight for Trump (TRUMPCOIN), and more, have recorded even more impressive spikes.
It is worth mentioning that their solid performance could also be attributed to the hype surrounding Trump’s inauguration as America’s 47th President. The transfer of power is scheduled for January 20. We have yet to see whether those memes will continue pumping after that date, or we’ll observe a typical “sell the news” event.
Conclusion
In conclusion, the meme coin sector has experienced a significant surge in the past 24 hours, with its market cap reaching $120 billion. DOGE and SHIB are leading the charge, but other coins have also made impressive gains. The hype surrounding Trump’s inauguration has also contributed to the performance of Trump-themed coins.
FAQs
Q: What is the current market capitalization of the meme coin sector?
A: The current market capitalization of the meme coin sector is $120 billion.
Q: Which coins have made the most impressive gains in the past 24 hours?
A: Dogwifhat (WIF) has made the most impressive gain, with a 15% increase in price, followed by Peanut the Squirrel (PNUT), which has jumped by approximately 10%.
Q: What is the reason behind the surge in Trump-themed coins?
A: The surge in Trump-themed coins can be attributed to the hype surrounding Trump’s inauguration as America’s 47th President.
Q: Will the meme coin sector continue to pump after Trump’s inauguration?
A: It is unclear whether the meme coin sector will continue to pump after Trump’s inauguration. We may observe a typical “sell the news” event or the sector may continue to grow.
Q: What is the current market capitalization of TOSHI?
A: The current market capitalization of TOSHI is almost $130 million.
Q: Will TOSHI be listed on Coinbase?
A: TOSHI has been added to Coinbase’s roadmap section, but it is unclear when it will be officially listed.
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