{"id":19774,"date":"2024-11-12T08:29:42","date_gmt":"2024-11-12T08:29:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=19774"},"modified":"2024-11-12T08:29:42","modified_gmt":"2024-11-12T08:29:42","slug":"meme-coin-madness-their-total-market-cap-hits-an-ath-of-over-120-billion","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=19774","title":{"rendered":"Meme Coin Madness: Their Total Market Cap Hits an ATH of Over $120 Billion"},"content":{"rendered":"

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

Meme coins like DOGE, SHIB, PEPE, FLOKI, BRETT, and many more have charted double-digit price increases in the last 24 hours.<\/span>
\nConversely, MOG, SPX, and GIGA are among the few that have not followed the green wave.<\/p>\n

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

Memes are on Fire<\/h2>\n

Meme coins have been performing really well since Donald Trump\u2019s win<\/a> in the <\/span>US<\/span> presidential elections. Earlier today (November 12), their total market capitalization exploded to an all-time high of more than $120 billion, representing a whopping 27% increase on a 24-hour scale.<\/span><\/p>\n

The mega pump <\/span>is led<\/span> by Dogecoin (DOGE), whose bull run seems unstoppable lately. As of the moment of writing these lines, the <\/span>OG<\/span> meme coin trades at around $0.40, a 260% spike monthly.\u00a0<\/span><\/p>\n

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

Its rally could <\/span>be attributed<\/span> to Elon Musk, who <\/span>intends<\/span><\/a> to spearhead a new division under Trump\u2019s administration called Government of Department Efficiency (<\/span>D.O.G.E.<\/span>).\u00a0<\/span><\/p>\n

Dogecoin\u2019s biggest rival \u2013 Shiba Inu (<\/span>SHIB<\/span>) \u2013 is also <\/span>well<\/span> in the green. Several hours ago, it soared to a seven-month high of $0.00003014, currently trading at around $0.00002898. The resurgence <\/span>coincides<\/span><\/a> with the revival of the layer-2 scaling solution Shibarium and <\/span>SHIB\u2019s<\/span> burn rate, which has been going through the roof recently.\u00a0<\/span><\/p>\n

Countless more memes are charting impressive gains in the past 24 hours. Some examples are BONK (+23%), BRETT (+25%), <\/span>PEPE<\/span> (+20%), <\/span>NEIRO<\/span> (+19%), and others.<\/span><\/p>\n

The very few being in red territory include <\/span>GIGA<\/span> (-15%), <\/span>SPX<\/span> (-8%), <\/span>MOG<\/span> (-3%), and DOGS (-3%).<\/span><\/p>\n

DOGE Eyes a New <\/span>ATH<\/span><\/h2>\n

Dogecoin\u2019s massive revival has triggered huge <\/span>enthusiasm across the space, with multiple industry participants envisioning a further rise to a new all-time high peak <\/span>in the near future<\/span>.<\/span><\/p>\n

The X user Mikybull Crypto <\/span>noted<\/span><\/a> the emergence of a \u201cgolden cross\u201d on DOGE\u2019s chart. The analyst reminded <\/span>that<\/span> a similar development last cycle was followed by a 7,000% price explosion. If history is about to repeat, we might see Dogecoin skyrocketing to nearly $30.\u00a0<\/span><\/p>\n

It is worth mentioning that a rally of such dimension would require the asset\u2019s market cap to jump above $4.2 trillion. Currently, the capitalization of the entire cryptocurrency sector is less than that, making the forecast <\/span>quite<\/span> implausible.\u00a0<\/span><\/p>\n

However, memes have shown they have the potential to chart immense gains and defy previous expectations. At the same time, their prices can head south just as <\/span>easily<\/span>, leading to devastating losses for inexperienced or overleveraged traders. That said, people need to conduct proper due diligence before entering the ecosystem and invest only as much as they are ready to lose.\u00a0<\/span><\/p>\n

The post Meme Coin Madness: Their Total Market Cap Hits an ATH of Over $120 Billion<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Meme coins like DOGE, SHIB, PEPE, FLOKI, BRETT, and many more have charted double-digit price increases in the last 24 hours. Conversely, MOG, SPX, and GIGA are among the few that have not followed the green wave. Memes are on Fire Meme coins have been performing really well since Donald Trump\u2019s win in the […]<\/p>\n","protected":false},"author":0,"featured_media":19775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19774"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19774"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19774\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19775"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}