Meme coins have been at the forefront of the 2024 bull run, with many rising by double-three-four digits in the last few months. But this trend changed in mid-March when the crypto market stopped working, and many pulled back sharply.
There seems to be another change on the horizon, this time in a more positive way, as the four best-performing assets of the top 100 alt today come from the meme coin realm.
Bitcoin has reached $ 65,000, while the larger-capitalized alt has risen by about 6-7%
However, Shiba Inu emerged as the top performer of the capitalized subs, rising by more than 18% in one day. This is the 12th largest memecoin in terms of market capitalization with a price tag of over $0.000027. it meant he was moving up the queue.
However, further gains are evident from the likes of the smaller-cap meme coins. BONK stole the show with a 41% increase that pushed the Solana-based token above $0.000021.
Floki follows suit as today’s second best earner with a 25% increase. Next up is Pepe , as he has jumped by 20%.
The total market capitalization of all meme coins increased by 11.5% the other day and is close to $ 57 billion on Coingecko.
These gains come at a particularly intriguing moment, given the fact that Bitcoin’s network dropped to its highly anticipated fourth half a day ago. Usually, although this cycle is quite different, this event has historically been associated with the start of a bull run for all crypto assets, and there are warnings that the effects of halving are diminishing.
However, meme coins seem to be the biggest winners after the completion of the halving, at least for now.
