Memecoins are surging due to increased institutional investment in the cryptocurrency market. Last week saw a renewed correlation between stocks and crypto assets as investors set new strategies after the Federal Open Markets Committee (FOMC) meeting which left interest rates unchanged.

Memecoins are the biggest beneficiaries of the market resurgence in the last seven days with huge gains recorded across various categories. This jump in token prices was expected as assets gain values on bullish upticks and not after a string of other developments. 

As the rebound continues this week, here are top memecoins posting 100X gains. 

Shih Tzu (SHIH)

The memecoin has surged 244% in the last 24 hours as users rally around the asset. Topping crypto asset gains, SHIH has ignited bullish sentiment across cryptocurrency spaces. The asset is also up above 240% this week as memecoins rally. 

According to data from CoinGecko, SHIH has a market cap of $2.1 million and a daily trading volume above 2 million. Despite long-term gains, the asset has recorded short-term losses today. In the last hour, SHIH trades 4.2% downwards. 

Book of Billionaires (BOBE)

BOBE ranks second in memecoins with the highest gains today. BOBE marks a 142% increase in the last 24 hours with the Solana memecoin bulls tipping the asset for more inflows. Daily volumes on the asset stand at $1.6 million at press time. 

The memecoin is a fairly new token in the market and trades at $0.07479. Although far off top memecoins, recent gains have attracted several users to the token.

Catfish (CATFISH) 

Catfish is up 101% in the last 24 hours as Solana memecoins continue to attract inflows. The asset notched a 71% gain in seven days increasing monthly flows to 112.6%. The meme coin’s trading volume is over $515,000. 

At press time, the wider memecoin market capitalization stands at $59.3 billion, a 3% increase today. 

Also Read: PEPE Price Targeting A New ATH In May 2024; What’s Happening 

The post Top Memecoins Outpacing The Market appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am