The value of bitcoin surged past $70,000 on Wednesday, leading to significant gains for the top meme coins. In the past 24 hours, Shiba Inu (SHIB) saw a 7.7% increase, while Dogecoin (DOGE) rose by 2.1%. Among the top five meme coins in terms of market capitalization, Floki (FLOKI) experienced the highest gain with a 21.2% increase. However, the biggest winner of the day was Boden, which soared by an impressive 46%.
The overall meme coin market has shown a 4.6% increase against the US dollar, reaching an estimated value of $68.78 billion. Four out of the top five meme coins saw gains, with FLOKI leading the way. The only coin in the top five to decline against the dollar was Pepe (PEPE), which lost 0.8%.
DOGE rose by 2.1%, SHIB climbed by 7.7%, and WIF grew by 4.1%. While most of the top meme coins performed well, JEO Boden emerged as the top gainer of the day, with a remarkable 46.4% increase. Non-Playable Coin (NPC) surged by 35.7%, and the meme token Wojak (WOJAK) saw a 32.3% increase. Other notable meme coins with double-digit gains include PENG, TYBG, TREMP, and MEOW.
On the other hand, several meme coins experienced significant declines on Wednesday. OPTI fell by 23.7%, OMIKAMI dropped by 19.3%, GME decreased by 18.7%, and STRUMP declined by 17.9%. Most meme tokens associated with the Gamestop, Roaring Kitty, and Wall Street Bets trend recorded losses in the past 24 hours. Meme coins have been performing exceptionally well this year, and the current $68.78 billion market cap represents 2.48% of the entire $2.77 trillion crypto economy.
What are your thoughts on the rise of meme coins on Wednesday? Feel free to share your opinions and thoughts on this matter in the comments section below.
