The cryptocurrency market marks a rebound after days in the red zone sparked by cumulative liquidations in digital assets and memecoins. With plunging prices, gains recorded in months were lost by reduced investor sentiment.
This week, the wider market opened with gains with coins recording as high as 10% following renewed optimism and other factors. Some memecoins have spiked with the trend likened to the memecoin frenzy that saw a larger rally. A rebound is seen across dog-themed tokens and Solana-based memecoin raising the market capitalization to $65.7 billion. Here are the top gainers in the memecoin market today.
Conan
Conan has spiked a massive 154% in the last 24 hours notching gains with the wider cryptocurrency market. The surge of memecoins usually outpaces larger digital assets because they are more volatile. The rally behind the asset on social media spaces by its community has helped more inflows to the asset despite the previous market downturn.
The asset is up 622.9% in the past week and 789% last month signaling strong growth this season. With a 24-hour trading volume of $1.8 million, the community expects more growth as inflows pour in.
Pepa ERC
Pepa ERC tops the memecoin leader board today with 214% gains and a strong mid-day rally. In previous weeks, Pepa ERC continues to defy top memecoin posting huge gains.
The asset is up 760% last week and 655% in the past 30 days. As inflows surge to Pepa ERC, bullish analysts say the market might spark another rally. However, despite gains, macroeconomic factors in the crypto market can cause outflows in meme tokens.
Kabosu Inu
Kabosu Inu soared over 100% today by sliding to 89% at press time. The memecoin has moved up 107% this week and 35% in the last 30 days. Compared to the previous two tokens, Kabosu Inu has a lesser monthly inflow because of market corrections.
Also Read: Top Reasons Why Ethena Price Might Hit $2 Soon
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