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The top meme tokens by market capitalization rose significantly on Monday thanks to the recent rise in the price of dogecoin. Crypto-meme tokens such as shiba inu, dogelon mars and floki inu are up 2-13% in the last 24 hours. The entire meme token economy is valued at $35.8 billion, an increase of 9.4% so far.
Meme token assets rose by double digits on Monday, following Dogecoin’s rise
After Elon Musk bought Twitter for $44 billion, digital currency markets jumped in value and cryptocurrency meme tokens saw significant growth. 24-hour statistics as of 4 p.m. (ET) on Monday showed that dogecoin (DOGE) jumped in value by 26.3% against the U.S. dollar.
Dogecoin (DOGE) is still up 18.8% today and is holding just above the $0.15 zone. Many believe the rise is based on speculation that Musk may introduce dogecoin payments into some Twitter operations.
While dogecoin jumped in value against the dollar, a number of other popular assets meme coins followed suit with DOGE on Monday. shiba inu (SHIB) jumped 1.7% and dogelon mars (ELON) rose 13% against the U.S. dollar in the last 24 hours.
While DOGE, ELON and SHIB are up in percentage terms, the fourth-largest asset baby doge coin (BABYDOGE) is still down 0.8% as of this writing. The floki inu (FLOKI), on the other hand, has jumped 2.1% against the U.S. dollar in the last 24 hours.
Other notable gains in meme tokens came from coins such as kishu inu, samoyedcoin, catecoin, Doge NFT and hoge finance shards. Litedoge (LDOGE) was up 162.6% and vitoge (VITOGE) was up 98.8% on Monday.
Jejudoge, dogefi, hotdoge, and shih tzu all also made double-digit gains over the last day. In addition, dogecoin (DOGE) global trading volume was $4.54 billion and SHIB was $1.25 billion in the last 24 hours.
Image Credits: Shutterstock, Pixabay, Wiki Commons
