Meme Coins See Explosive Growth, Even as the Broader Crypto Market Reaches New Highs

Data from Santiment shows a surge in popularity for these speculative tokens, often based on themes like dogs or cats.

Meme coins have seen explosive growth in recent weeks, with some tokens surging by thousands of percent.

According to data from Santiment, these speculative assets are trending significantly on social media, with a particular focus on tokens themed around dogs or cats.

In a post on X (formerly Twitter), Santiment highlights that meme coins are showing relative strength compared to other crypto assets. Based on social media discussion rates, several meme coins are performing exceptionally well.

When examining the meme coin category of tokens, Peanut the Squirrel (PNUT), Pepe (PEPE), Dogecoin (DOGE), Memecoin (MEME), Peanut (NUX), and 8-Bit Coin (COIN) are among the most popular.

Interestingly, Bitcoin (BTC) ranks seventh in terms of social media chatter, indicating a significant flow of capital into the meme coin sector. This sector's market cap soared to $119 billion, although it did experience a 4.5% dip in the last 24 hours, as reported by CoinGecko. Trading volume in this sector reached $58.9 billion.

Currently, Dogecoin leads the meme coin pack and ranks sixth overall in the crypto market. Its market cap is $52.50 billion, and it trades at $0.3574. DOGE is down 7.9% in the last 24 hours and a substantial 50.87% from its all-time high of $0.7376.

Meme Coin Performance Highlights

PNUT has shown incredible growth, surging by 1626.4% in the past week. It currently trades at $1.69 with a market cap of $1.68 billion. However, PNUT also experienced a 17.3% drop in the last 24 hours, although it’s still up an astounding 2925.65% over the past month.

PEPE has also performed well, rising 95.77% in the last 30 days. MEME increased by 16.56% in the past week. PEPE currently trades at $0.00001962, while MEME is priced at $0.01267.

Additionally, NUX is up 118.27% in the last 30 days and 10.30% in the last 24 hours. COIN has jumped 42.71% in the past week.

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