Meme Coin Market Bucks Crypto Downtrend With 3.2% Rise, Led by DOGE and BONK Gains

Recent data indicates that despite a general decline in the crypto economy, the meme coin sector has experienced a 3.2% increase in the last 24 hours. Notably, dogecoin and bonk have observed respective surges of 1.2% and 9%. Additionally, Sunday saw several meme tokens achieving gains in the double digits.

Meme Tokens Defy Crypto Slump

The meme coin cryptocurrency market has seen a 3.2% uptick in value compared to the U.S. dollar, with the sector achieving approximately $1.25 billion in global trade volume over 24 hours. Dogecoin (DOGE), the leading asset in market capitalization within the meme coin category, experienced a 1.2% rise, and has increased by 2.9% over the previous week.

DOGE/USD on Jan. 14, 2024, via Coinbase.

In contrast, shiba inu (SHIB) recorded a slight decline of 0.1% on Sunday, though it has appreciated 6.4% in the last week. Bonk (BONK), ranking third in the meme coin segment, surged by 9% against the greenback during Sunday’s trading period. Moreover, BONK has climbed 44.2% this past week.

BONK/USDT on Jan. 14, 2024, via Binance.

Pepe (PEPE) experienced a minor decline of 0.5% in the past 24 hours, yet it has shown a notable increase of 9.1% over the week. Corgiai (CORGIAI) faced a 3.6% drop on Sunday, culminating in a significant 25% decrease in its value over the week. Floki (FLOKI) performed relatively well, achieving a 1.6% rise today and a 3.1% uplift throughout the week. The meme coin dogwifhat (WFI) surged by 35.9% on Sunday, and it has further risen by 222% over this week.

Memecoin (MEME) witnessed a 15.4% increase in the past day and a notable 22.5% growth over the last week. However, not all meme tokens have shared in this upward trend; myro (MYRO) declined by 15.3%, magical tux (TUX) fell by 12.9%, and sacabam (SCB) decreased by 11.9% against the U.S. dollar. Currently, the meme coin market’s net value stands at $21.94 billion, following the 3.2% rise. The meme coin sector now represents 1.24% of the total value of the crypto economy.

What do you think about the meme coin sector’s gains on Sunday? Share your thoughts and opinions about this subject in the comments section below.

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