The crypto meme coin landscape has reportedly reached an exclusive landmark. As per IntoTheBlock, a well-known market intelligence firm, the cumulative market capitalization of the memecoin sector has touched a latest all-time high spot this week, highlighting renewed investor interest. The analytics platform disclosed this development on its social media account.
The memecoin market cap reached a new all-time high this week, as retail interest slowly returns to the market. pic.twitter.com/ltOuhQOzi7
— IntoTheBlock (@intotheblock) November 15, 2024
Memecoin Sector Witnesses an All-Time High Market Capitalization as the Retail Interest Resurges
IntoTheBock revealed that the return of the retail interest has raised the market capitalization of the meme coin sector to an ATH. Memecoins serve as the crypto tokens that get significant attention for their broader appeal and community-driven nature. They reportedly have the potential to rally based on the celebrity endorsements and hype on social media. The current renewal of the meme coin interest emerges at a point when Ethereum ($ETH) and Bitcoin ($BTC) are fueling the gains.
The revival of the retail enthusiasm highlights the rise in the value of the meme tokens and their trading volumes. Prominent tokens like Dogecoin, Shiba Inu, and Pepe have served as the chief contributors to the respective resurgence. This mirrors their increasing fame among the traders in the retail market. In line with the latest data, the top meme coin gainers take into account Pepe ($PEPE), Dogecoin ($DOGE), Bonk ($BONK), FLOKI ($FLOKI) and dogwifhat ($WIF).
$PEPE Dominates the Market with $DOGE, $BONK, and $FLOKI Following It
Pepe ($PEPE) leads the memecoin sphere with a market capitalization of $8.61B, showing an 89.33% increase over the past week. Subsequently, Dogecoin takes the 2nd place with its market capitalization reaching $52.58B, accounting for an 80.97% weekly spike. The top 3rd player is Bonk ($BONK) as its market capitalization has touched $2.78B, denoting a 66.63% rise over the last 7 days.
Other than the top 3, FLOKI ($FLOKI) occupies the 4th position with $2.11B in its market capitalization, showcasing a 56.73% per-week surge. In addition to this, dogwifhat ($WIF) accounts for a weekly 53.2% uptake in its market capitalization that has touched $3.56B.
Other than these top memecoins, $Pnut and $FRED occupied the top slots in terms of weekly profit with gigantic profit. The two coins have remained the top choice of whales this week with huge on-chain activity.
