These memecoins are currently conquering the crypto market
Memecoins are conquering the crypto market again. While serious projects are stagnating, fun currencies are clearly on the rise. Two well-known tokens are currently at the top of the market, but a new representative is also entering the trends for the first time.
These memecoins are currently conquering the crypto market
Memecoins are once again taking over the crypto market, data from CoinMarketCap shows. The current leader among the 100 largest cryptocurrencies is Bonk (BONK) with an increase of 12.30 percent in the daily trend and 84.30 percent in the weekly trend.
At the time of going to press, the memecoin based on Solana was ranked 56th among all cryptocurrencies by market capitalization. Measured by the gains in the weekly trend, another fun currency, Pepe (PEPE), is right behind in second place.
Pepe has achieved an increase of six percent since yesterday and is a full 49 percent in the green zone over the last seven days. The next best memecoin takes fifth place in the weekly trend with +34 percent. It’s Floki (FLOKI).
New fun currency hits trends
With Super Trump (STRUMP), a new fun currency hits the CoinMarketCap trends. In the trending area, STRUMP is currently only overtaken by Pepe. The new memecoin, which has former US President Donald Trump as its motif, was only created in March.
The memecoin now seems to be in high demand on CoinMarketCap. The data aggregator lists the project with a small market cap of $6.3 million. STRUMP is ranked number 1,242.
Since yesterday, the memecoin has recorded a profit of 18.60 percent and is trading at $0.00355 at the time of going to press.
Why are memecoins currently increasing?
Memecoins usually increase when the market leaders slow down. Bitcoin is up 0.34 percent in the daily trend and down 1.76 percent in the weekly trend. Speculators therefore try to generate quick profits elsewhere.
Memecoins are particularly popular for this. The fun currencies have no deeper meaning and are therefore not tied to particular developments. Speculation has a major influence on the price movements of these coins and therefore allows for quick profits as well as quick losses.
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The Fear & Greed Index shows that interest in investing is still at a relatively high level. If you only want to invest in the short term, you may choose cryptocurrencies where price movements are expected to occur soon.
