Coins outperformed higher crypto assets as bulls set sights on a renewed rally. This influx comes after the market reacted to Donald Trump’s victory. Although flows remain dominant and are gaining attention from more crypto enthusiasts, some users argue that volatility is the main problem for MEME coins. The accumulation of this has led to questions about the sustainability of these spikes around crypto circuits.
Mimi coin rises above the market
A look at crypto charts shows coins moving in a similar direction to other assets but faster. Meme Coin’s market cap has risen over $110 billion in the past 24 hours, while daily volumes have risen to $28.3 billion. Top meme coins like Dogecoin and Shiba Inu are up 84% and 28% respectively.
Pepe, WiF, and Popcat have attracted high bullish momentum, with the community rallying behind these assets. Aside from SHIB, all top ten MEME coins by market cap are hitting double-digit gains. Bonk and Floki amassed 18.2% and 14%, respectively. Leading the broader charts is WAGMI, with a 1,150% rise, while the TSLA6900 and Elonrwa are up 100X in the same period.
Amid the market buzz, two categories of meme tokens dominating the scene are coins of a political and political theme. The former dates back to the time Elon Musk played in support of Donald Trump, which saw Tesla shares surge. Political coins designed after Trump also saw significant inflows in the past seven days.
Will you continue?
Double-digit growth has increased engagement and community optimism. This comes from the US elections, expected to drive market growth. Many market commentators are portraying a favorable shift for the crypto, but if sentiment declines, a correction may occur.
Crypto analysts have warned against investments in newer MEME tokens that stress coins. Bitcoin enthusiast Bakixbt shared the same narrative on X.