Meme coins grabbed everyone’s attention this week by giving a remarkable performance to the investors.
Memecoins had an interesting start this week, with many of them gaining value and standing out. The trading volumes of the top 50 meme coins increased by more than 34% in the past 24 hours.
Some coins to keep an eye on due to their high potential for significant price changes are $PEPE, $MAGA, $MOG, $BITCOIN, $PONKE, $PEPE2.0, $SPX, and $ANALOS. Additionally, $GME (a crypto token) and $ROAR have also made significant moves, as reported by Blockchain analytics firm Santiment.
How Did MemeCoin Perform This Week?
The new meme coins are emerging as a goldmine for investors, offering tremendous returns. Coins like GameStop (GME) provided a whopping 3170.79% return in the last seven days. MAGA VP (MVP) yielded a 143.78% return in the past 7 days. Moreover, Andy on SOL (ANDY) saw a return of 123.79%, and MAGA (TRUMP) saw a return of 69.89%.
Source: CoinMarketCap
Additionally, popular meme coins such as Pepe (PEPE) increased by 45.85%, Turbo by 45.72%, and Ponke (PONKE) by 40%. These meme coins’ performance demonstrates their appeal to investors.
Meanwhile, while everyone is wondering about the sudden upsurge in the meme market, the rise of meme coins gained momentum after the GameStop rally on Wall Street, which attracted attention in financial markets.
The GME stock price surged when Keith Gill, also known as TheRoaringKitty, tweeted for the first time in three years, sparking interest in Gamestop. That led to a 34% increase in daily trading volume for meme coins, adding $5 Billion to investors’ wealth. This sudden surge brought meme coins into the spotlight, generating new interest and an investment frenzy.
Top Meme-coins on the Investors’ Watchlist
Pepe (PEPE) and GameStop (GME) have emerged as top performers, gaining popularity in the market.
1. GameStop (GME)
After the well-known GameStop rally on Wall Street, GameStop Corp. (GME) has ventured boldly into the world of meme coins.
At press time, the GME crypto price was at $0.00158, marking a 29% increase in the past 24 hours. Its market capitalization is $120.23 Million, with a 24-hour trading volume of $183.07 million. The circulating supply and total supply of GME is 6,885,214,218.
The price of GME has skyrocketed from an all-time low to an all-time high within just 3 days. The GameStop price has seen a remarkable 3000% surge in the past 3 days, indicating a strong bullish trend.
GME’s price has been on a bearish trend since February, struggling to surpass the 20-day exponential moving average. However, there has been a recent breakout with a powerful bullish candlestick and a significant surge in trading volume.
2. Pepe (PEPE)
When writing, Pepe crypto was trading at $0.00001128, reflecting a 1.92% increase in the last 24 hours. The market capitalization of Pepe was at $4.74 Billion, with a 24-hour trading volume of $4.7 Billion.
The recent price surge of the PEPE coin has attracted a lot of attention, with an increase of almost 119.25% and 913.76% in just 3 months. There has been a notable rise in PEPE social metrics, indicating increased discussion of the memecoin in the crypto media.
Analysts are expressing positive views on the coin and setting higher targets. This month, Pepe has experienced significant buying pressure, leading to a 58% increase in price so far. Since March, Pepe has faced challenges surpassing the key resistance level of $0.00000900.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
