• 28 May, 2024
News

PEPE Leads Memecoin Surge Doubling Market Cap in 30 Days

The memecoin sector has experienced a remarkable surge in Q2, with significant gains reported across various assets. According to data from Santiment, a market intelligence platform specializing in on-chain and social metrics for cryptocurrencies, PEPE has seen its market cap double over the past 30 days. This growth positions PEPE as a standout performer in the memecoin market.

Besides PEPE, other memecoins like PONKE and MAGA have also seen impressive growth. PONKE has increased by 96%, while MAGA has grown by 80%. These gains highlight the rising interest for investment in the memecoin sector.

The surge in the memecoin sector is notable, as assets like TURBO and BITCOIN have also benefited from this trend. TURBO’s market cap has grown by 78%, while BITCOIN has seen a 76% increase. These gains highlight a broader trend within the cryptocurrency market, where memecoins are outperforming other sectors.

In addition, the surge is further highlighted by the significant increase in trading volume for meme assets over the past week. The volume of meme assets has increased by 136%, indicating heightened investor interest and activity in this sector of the cryptocurrency market.

Santiment’s data underscores the growing popularity and market impact of memecoins. The sector’s performance in Q2 suggests that investors are increasingly turning to these assets, driven by the potential for high returns.
Looking at the broad memecoin market performance, the tokens are on the rise. The market cap surged by 6% to $55 billion, while the trading volume stood at $10 billion, an increase of 10%. However, PEPE has seen a significant hit today, currently trading at $0.00001060, a decline of over 6% amid setting a new-all time ago this week at $0.00001128.

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