The meme cryptocurrency has been a distinguished sector of the crypto space as the assets under it are known to provide rapid movement in a short period. Such a high-momentum rally often attracts speculators, day traders, and short-term investors to keep these assets liquid. However, with leading Dogecoin and Shiba Inu showcasing a more stable price behavior recently, emerging coins like Dogwifhat can offer the traditional behavior of meme coins and provide higher returns to buyers.
Also Read: VanEck’s Meme Coin Index Hits 195% As DOGE, SHIB, & PEPE Prices Rally
Are Meme Coins Still Worth The Hype?
Crypto analyst Crypto Coryo notes a notable shift in the top meme coin market since the 2020/2021 bull run. Initially, options like DOGE, SHIB, and FLOKI were limited and mostly on Ethereum, leading to parabolic price increases due to high demand and low supply. However, by 2024, the number of meme coins exploded, with 138 new entries on CoinMarketCap in a single month, compared to 18
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