Meme coins have been at the forefront of the 2024 bull run, with many surging by double-triple-quadruple digits in the past few months. However, that trend changed in mid-March when the crypto market’s run was halted, and many retraced hard.
Another change seems to be on the horizon, this time in a more positive manner, as the four best-performing assets from the top 100 alts today are coming from the meme coin realm.
CryptoPotato reported earlier that Bitcoin had tapped $65,000, while many larger-cap alts have jumped by about 6-7%.
However, Shiba Inu has emerged as the top performer from the larger-cap alts, having soared by more than 18% in a day. This meant that the second-largest meme coin has climbed to the 12th place in terms of market cap with a price tag of over $0.000027.
However, more gains are evident from the likes of smaller-cap meme coins. BONK has stolen the show with a 41% surge that has driven the Solana-based token to over $0.000021.
FLOKI follows suit as today’s second-best gainer, with a 25% increase. PEPE is next, as it has skyrocketed by 20%.
The overall market capitalization of all meme coins has climbed by 11.5% in the past day and is close to $57 billion on CoinGecko.
These gains come in a particularly intriguing moment, given the fact that Bitcoin’s network went through its highly anticipated fourth halving just over a day ago. Usually, this event has been historically linked to the start of a bull run for all crypto assets, even though this cycle has been quite different, and there are warnings that the effects of the halving are declining.
Nevertheless, the meme coins seem to be the biggest winners after the completion of the halving, at least for now.
The post Why Are These Four Meme Coins Up by Double Digits in the Past Day? appeared first on CryptoPotato.