This week, meme coins have experienced noticeable price movements, capturing investor attention. In the past 24 hours, significant fluctuations were observed along with a substantial decrease in market value. The competition between popular dog and cat-themed meme coins has intensified over the past seven days, with some projects seeing notable gains.
What is Happening with Dog-Themed Meme Coins?
Data from CoinGecko reveals that the overall trading volume of meme coins dropped by over 6% within the last 24 hours, placing the market value at $54.6 billion. Leading the market, Dogecoin (DOGE) and Shiba Inu (SHIB) account for a large portion of the $29 billion total market volume.
Dogecoin holds the top spot among dog-themed meme coins with a market value of $19 billion. Shiba Inu follows with a $10 billion volume. Other notable projects include WIF on the Solana network with $2.5 billion in volume and BONK with $1.9 billion. Additionally, FLOKI, ranked 10th, has reached a volume of $1.7 billion with a value of $0.0001836.
Why Are Cat-Themed Meme Coins Trending?
Cat-themed meme coins have also seen activity, particularly led by Popcat (POPCAT). As of the latest data, POPCAT leads the cat-themed segment with a market value of $795 million, despite a 10% drop in price to $0.81. Another top 10 cat-themed coin, cat in a dogs world (MEW), had an impressive week with over 80% gains, trading at $0.007599. MOG, ranked ninth, reached a volume of $745 million with a price of $0.000002064.
Key Observations for Investors
• Dog-themed meme coins dominate with DOGE and SHIB leading significantly.
• Notable market volatility suggests potential opportunities and risks.
• Cat-themed coins like POPCAT and MEW show competitive performance.
• Short-term trends highlight the dynamic nature of meme coins.
As it stands, dog-themed meme coins continue to lead the market in terms of volume and value. However, cat-themed meme coins are making notable moves, suggesting a growing competition and diverse investment opportunities within the meme coin market.