Memecoins have seen a slight recovery in the last 48 hours following the cooling after the US Fed meeting that left interest rates unchanged. As crypto assets pick up gains, analysts opine that increased market sentiments are also seen in stocks as the correlation continues.
The total memecoin market capitalization stands at $52.4 billion, an 8.6% jump in the last 24 hours while the crypto market capitalization surged to $2.29 trillion, a 3% increase in the same time frame. While memecoins posted gains, some assets outperformed the market with over 100X gains today.
These gains have been likened to the similar figures recorded in the memecoin frenzy in Q1 2024 although the market remains short of that high. Here are the top trading memecoins today.
SAD HAMSTER (HAMMY)
The asset has soared 202% today significantly outpacing all crypto assets. The meme token continues its good run in recent weeks with bulls projecting more highs in the market. HAMMY trades at $0.0022 with a 24-hour trading volume of $10.8 million.
The meme token has surged 1014% this week and 191% in the last 30 days. The asset’s rise has sparked conversations around social media spaces as the community rallied around the token.
Monku (MONKU)
Monku is up 152% today joining the surging memecoins in the market. The assets have a daily trading volume above $619,700 as it picks up a series of gains. Despite the slow sentiments recorded among crypto assets, MONKU saw 29.7% inflows in the last seven days.
The Solana memecoin has become a popular token because of recent gains. As the price of SOL came above water, analysts expected Solana memecoins to register upticks.
Costco Hot Dog (COST)
COST has rallied 60.9% today ranking in the top three memecoin gainers. With a daily trading volume above $500,000, the asset increased 85% this week. The above three assets are Solana memecoins as the class continues its upward momentum.
Also Read: 3 Crypto Under $1 To Buy For Short-Term Gains
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