Memecoins are gaining traction in the virtual currency market, providing an alternative way of trading and investing. As they continue experiencing substantial growth and rising adoption, some are emerging as dominant players, attracting investor attention and reaching new heights. Today, data by Crypto Dep highlighted the top 10 meme coins by market cap, showcasing their potential for financial growth.
Top meme coins by market cap
Dogecoin (DOGE)
According to the data, Dogecoin emerged as the top meme coin in terms of market cap. With a market capitalization of $25.9 billion, DOGE is the biggest meme coin. The asset has maintained a remarkable performance, registering a 29.7% price growth over the past year. With substantial surging trading volume and rising adoption, Dogecoin positions itself as a strong alternative to Bitcoin and Ethereum.
Its transaction volumes rose by 65.70% over the past 24 hours, currently standing at $2.49 billion. Also, Open Interest (IO) on DOGE surged by 3.06% over the period, currently hovering at $1.5 billion. These figures shows that investors and traders are increasingly showing confidence in DOGE and therefore creating positions on the asset, hoping for potential growth.
Shiba Inu
With a market valuation of $7.62 billion, SHIB is the second largest memecoin, demonstrating its ability to offer growth to users. Due to its explosive price surges, the asset has gained substantial interest among enthusiasts. Its value is currently trading at $0.00001287, up 4.7% over the past week, highlighting its strength. Strategic investors often target SHIB’s explosiveness to make returns.
Pepe (PEPE)
Pepe (PEPE) took the 3rd place as the third largest meme coin with a market cap of $3.21 billion. This market value also makes PEPE the 32nd largest crypto asset in the entire virtual currency ecosystem. This shows that PEPE has become a strong competitor in the wider crypto market, giving prominent assets a run for their money. The asset has been up 2.9%, 5.1%, and 5.5% over seven days, two weeks, and one year ago respectively. This highlights its resilience amid the ongoing downtrend in the broader digital asset market.
Official Trump (TRUMP)
Trump coin followed as the fourth largest memecoin and the 39th most valuable virtual currency, with a market cap of $2.29 billion. While the digital asset market has been undergoing a downtrend, TRUMP is defying the trend with impressive growth. It has been up 6.2% over the last seven days. Its trading volume grew by 61.90% over the past 24 hours, suggesting that buyers are increasingly participating in the platform. Also, Open Interest (IO) on TRUMP rose by 1.89% over the past 24 hours, indicating rising trader confidence.
Bonk (BONK)
Bonk has shown incredible strength lately, cementing its position as the fifth-biggest meme coin by market valuation. Its market cap currently stands at $903 million. Its price has been up by 6.7% over the past week, making it one of the most resilient assets amidst the current downturn in the wider crypto market. Since Bonk is running on top of SOLANA blockchain, this has been immensely benefiting it due to Solana’s low fees and high processing time, making it appeal to users.
Others
Other meme coins, which gained visibility due to their trading performance and market cap include FLOKI, SPX, FARTCOIN, BRETT, and CHEEMS. Floki (FLOKI) is the sixth largest meme coin with a market valuation of $614 million. It is followed by SPX6900 (SPX) as the seventh biggest meme coin, with a market valuation of $400 million. Fartcoin (FARTCOIN) took the eighth spot as the eighth largest meme coin with a market cap of $369 million. BRETT and CHEEMS followed with their market caps of $328 million and $274 million respectively. While BRETT is the ninth largest meme coin, CHEEMS is the 10th.
