Meme coins such as Dogecoin, PEPE, and WIF have continued to enjoy greater acceptance, which is evident in recent data showing that the demand for them has clocked a new high. This also undoubtedly strengthens predictions that this category of crypto tokens will be one of the leading narratives in this market cycle.
Dogecoin, PEPE, And WIF Lead Demand For Meme Coins
Market intelligence platform IntoTheBlock recently revealed that the demand for meme coins hit its highest in the first quarter of this year since 2021. Furthermore, the increased demand has led to the launch of newer meme coins, pushing the market cap of this crypto category to its highest in two years.
Their market currently stands at over $56 billion, meaning their aggregate value has nearly tripled this year. As expected, OG meme coins like Dogecoin (DOGE), Pepe (PEPE), and Shiba Inu (SHIB) have led the way. Dogecoin has seen its price double in 2024, while PEPE and SHIB have recorded a 5x and 2.5x gain,
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