Meme Coins Soar: SHIB Surges 35%, MOODENG Hits $305M Market Cap
In a week filled with excitement, meme coins have taken center stage, with shiba inu (SHIB) leading the way, surging by 35.5% against the U.S. dollar over the past seven days. However, the real standout is MOODENG, the meme token inspired by a baby pygmy hippo from Thailand, which experienced a remarkable climb. This newly launched Solana-based coin reached its all-time high on Friday, reaching $0.3387, and has since settled at $0.3052.
The Meme Coin market has been booming, with a significant 8% increase in value against the U.S. dollar in the last 24 hours. As of noon Eastern Time on September 28th, the meme token economy reached a staggering value of $56.99 billion.
Leading the pack in terms of market capitalization is dogecoin (DOGE), currently sitting at $19.12 billion. DOGE witnessed a 21.4% surge this week, now trading at $0.1313 per coin. However, shiba inu (SHIB) outshone the rest of the top five meme coins with its 35.5% climb. Currently priced at $0.00002001, SHIB experienced a slight decline of 5.4% over the past 24 hours.
The true star of the week, though, is MOODENG, the meme token inspired by the adorable baby pygmy hippo from Thailand’s Khao Kheow Open Zoo. It recorded an astonishing 1,400% surge in the past week and continues to impress with a 713.8% gain in its seven-day performance.
MOODENG’s market valuation now stands at an impressive $305 million, making it the 218th largest by market cap. Other meme coins also had strong showings, with ordinals pups (PUPS) climbing by 170%, billion dollar cat (BDC) rising by 156.9%, and spx6900 (SPX) gaining 149% over the week.
However, not all meme coins enjoyed the spotlight, as coco coin (COCO) plummeted by 50% and tron bull (BULL) slid by 18.6%. As the meme coin market continues to captivate investors, it is evident that volatility remains the defining characteristic of this game.
What are your thoughts on the wild action in the meme coin market this week? Share your opinions in the comments section below.