TL;DR
The meme coin sector surged in the past 24 hours, with its market cap touching 120 billion. DOGE and SHIB are well in the green, but some of their rivals have outperformed them in terms of daily gains.
Trump-themed coins, including MAGA and MAGA HAT, also rallied amid hype surrounding the Republican’s upcoming inauguration.
A Green Day for the Memes
The cryptocurrency sector endured the tough times at the beginning of the week, soaring substantially in the last 24 hours. Its global market capitalization surged past $3.6 trillion, with many leading assets (including BTC, XRP, and others) charting impressive gains.
The situation in the meme coin niche is also quite bullish. Its market cap has risen by 6.5% on a daily scale, reaching $120 billion once again. Dogecoin (DOGE) – the undisputed leader of the realm – is up 5%, while its biggest rival, Shiba Inu (SHIB), has pumped by 4%.
Some of the best performers include dogwifhat (WIF), whose price shot by 15% in the past 24 hours, and Peanut the Squirrel (PNUT), which jumped by approximately 10% for the same period. Other notable gainers include Toshi (TOSHI), Fartcoin (FARTCOIN), Popcat (POPCAT), MEOW (MEOW), Zerebro (ZEREBRO), and many more.
TOSHI made the headlines on January 15, when its valuation skyrocketed by over 100%. This happened shortly after Coinbase added the asset to its roadmap section.
The cat-themed token must meet certain criteria before officially being listed on the US-based trading venue. It is important to note that such a move could fuel an additional price rally. As of the moment, TOSHI has a market cap of almost $130 million, remaining far away from the top 10 club in the meme coin sector.
Trump-Themed Memes are on the Rise, too
The recent resurgence of the cryptocurrency market has also positively affected meme coins related to the upcoming US president Donald Trump.
MAGA (TRUMP) has climbed by 9% on a daily scale, while MAGA HAT (MAGA) is up 17%. Lesser-known tokens, including Dark MAGA (DMAGA), MAGA: Fight for Trump (TRUMPCOIN), and more, have recorded even more impressive spikes.
It is worth mentioning that their solid performance could also be attributed to the hype surrounding Trump’s inauguration as America’s 47th President. The transfer of power is scheduled for January 20. We have yet to see whether those memes will continue pumping after that date, or we’ll observe a typical “sell the news” event.
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