The post Why Memecoin Price Are Skyrocketing Today? appeared on BitcoinEthereumNews.com.

With the escalation of the demand for utility-based tokens in late 2024, the Memecoin price took a toll. Nearly $44 billion from market cap was lost in just a three-week span, but now the interest is resurfacing, with a massive boost in DOGE, SHIB, and other meme-themed cryptos. Notably, the multi-billionaire Elon Musk has something to do with this. DOGE, SHIB, FLOKI & Other Memecoin Price Skyrocketing In a surprising manner, the Memecoin price witnessed a significant uptrend today per CoinMarketCap. Starting with the biggest meme-themed token, Dogecoin (DOGE) price surged 6% today, hitting $0.173. Shiba Inu is also following with 3% today. With a 101% up trading volume, SHIB currently trades at $0.00001179. Notably, the biggest gainer of the day is the BUILDon (B) with 28% gains, followed by Floki with a 14% rally and SPX6900 with a 12% surge. Other Solana meme coins like BONK, TRUMP, and even Pepe coin are up significantly. However, the same surge is not distributed in the broader market, signaling the dominance of meme cryptos today. Why is the Memecoin Price Up Today? The biggest reason behind today’s pump is the launch of Elon Musk’s ‘America Party.’ With his popularity in the crypto space and association with trending meme coins like DOGE, there’s a bullish demand for these tokens. Moreover, his hints of keeping his party crypto-friendly, especially around Bitcoin, the crypto market is booming today. Besides, the positive impact of Donald Trump’s BBB bill is visible. Upcoming developments in the crypto week and bills pushing the market further. Amidst Dogecoin’s breakout above the key $0.17 resistance mark, the bullish sentiments are affecting the entire category. Moreover, the AI meme-cryptocurrencies are flourishing with renewed hype and development in the AI industry. Recently, Grayscale launched a new index, tracking 24 AI tokens. More importantly,…

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Filed under: News - @ July 7, 2025 7:21 am