Top 3 Memecoin Sector Performers Amid Israel-Iran De-Escalation

LUCKNOW (CoinChapter.com) — As tensions between Israel and Iran began to subside, the memecoin market witnessed a remarkable surge in activity. Today, the overall market of all Meme Tokens reached a market cap of $52.30 billion, which is up by 5.7% in the last 24 hours. So, here are the top 3 meme coin performers contributing to this growing market cap of meme tokens.

1. Dogecoin (DOGE)

Leading the pack is the original memecoin, Dogecoin (DOGE). Amid the easing of tensions, Dogecoin saw a 24-hour price increase of 2.84%, rising to $0.1615 per token.

This uptick reflected a cautious optimism among investors despite this meme token experiencing a 7-day tumble of 19.56%. However, Dogecoin’s market capitalization remained strong at over $23 billion, hinting at the resilience and enduring appeal of this crypto stalwart.

2. Shiba Inu (SHIB)

Another memecoin that demonstrated remarkable resilience was Shiba Inu (SHIB), the self-proclaimed “Dogecoin killer.” Shiba Inu showed an encouraging 24-hour price increase of 4.40%, rising to $0.00002368 per token.

While Shiba Inu saw a 7-day decline of 20.12%, its substantial market capitalization of $13.3 billion suggests a strong community backing and the potential for a swift rebound.

3. Dogiwifhat (WIF)

Stealing the spotlight, however, was the emerging Dogiwifhat (WIF). This relatively new entrant to the meme coin world commanded attention with a significant 24-hour increase of 13.42% in its price, reaching $3.04 per token.

Despite a 20.48% downward movement over the last week, Dogiwifhat’s market capitalization of nearly $3 billion indicated a rapidly growing interest from the memecoin community and investors at large.

Beyond the Top 3 Meme Coins Performers…

Beyond the top three performers, the memecoin sector showcases a diverse array of tokens that have carved out their own niches. One such token is Pepe (PEPE), inspired by the infamous internet meme. Pepe showed a moderate 24-hour increase of 1.18%, rising to $0.000005307 per token. However, it experienced a 28.01% decline over the last week. Additionally, Pepe’s market capitalization currently stands at $2.23 billion.

Another memecoin that caught the attention of investors was Floki (FLOKI), named after Elon Musk’s dog. Floki saw a 1.35% uptick in its 24-hour trading, with the price reaching $0.0001492 per token.

This recent performance indicated investors’ quick reactions to market sentiments and their willingness to support tokens that blend meme appeal with potential utility, as Floki has promised to integrate into the larger ecosystem of NFTs and games. Floki’s market capitalization stood at $1.43 billion.

Bonk (BONK), representing the playful side of the cryptocurrency market, also displayed some positive momentum. Despite a severe weekly dip of 30.74%, Bonk’s price saw a 2.23% increase in the past 24 hours, reaching $0.00001615 per token. This positive price movement could suggest an emerging recovery fueled by investor interest, with Bonk’s market capitalization standing at $1.05 billion.

Smaller Memecoins Showcase Explosive Growth

Besides the top 3 meme coins, some lesser-known meme coin tokens also experienced remarkable weekly growth. Book of Meme (BOME) and Cat in a Dogs World (MEW) showcased 7-day increases of 36.34% and 98.52%, respectively. Such a good weekly performance shows the potential for lesser-known memecoins to experience explosive growth. Community-led initiatives or influencer endorsements often drive this surge.