Total Market Cap Nearly Triples to $130 Billion for Meme Coins

Market Meme Coins Memecoin

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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November 18, 2024

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Meme Coin News: Market Highlights

Much like the broader crypto market, most meme coins (though a smaller majority) are red today.

The meme coin market capitalization has increased by 1.7% to $124 billion over the last day.

Dasha (VVAIFU) is the day’s best performer. The coin is up 129% to the price of $0.09096.

Next up is Comedian (BAN), with a 72.3% rise, while nearly 20 other coins recorded increases between 10% and 45%.

At the same time, Koma Inu (KOMA) fell the most: 29.4% to $0.06123.

It’s followed by BLUB (BLUB)’s and Shrub (SHRUB)’s 19.6% and 19%, respectively.

Fifteen other coins saw double-digit drops.

When it comes to the top 10 meme coins per market cap, four are down, and six are up.

Turbo (TURBO) fell 5.4%, followed by Dogwhifhat (WIF)’s 3.91%.

MEME and BABYDOGE are down less than 2% each.

The day’s biggest gainer in this category is PEPE (PEPE). It’s up 2.2%, followed by Shiba Inu (SHIB)’s 1.1%, while the rest are up below 1%.

Total Meme Coin Market Cap Nearly Triples in Two Weeks

Over the past 24 hours, the Meme market cap has increased by 1.7%, reaching $124 billion.

This is a significant rise over the past two weeks.

On November 4, the meme coin market cap stood at $59 billion, after it had decreased by more than 5%.

This means that over the past 14 days, this number surged by a whopping 110.17%.

Unsurprisingly, the surge followed the US presidential elections held on November 5.

More precisely, it came as a positive reaction to Donald Trump’s victory, given his seemingly supportive stance towards the crypto industry, as well as anticipated regulatory loosening in that country.

The overall crypto market experienced a surge, as seen in the chart below.

Total cryptocurrency market capitalization, 1-month chart:

Additionally, many meme coins in particular reacted with massive increases over the few days post-election, particularly dog-themes ones.

This is partly the result of Trump’s recent relationship with Tesla’s Elon Musk. The latter has publically supported both Trump and meme coins.

Both of these people have also inspired a number of meme coins themselves.

Notably, the crypto market surge has slowed down over the past week.

Coinbase Lists WIF and PEPE, Announces FLOKI

Major crypto exchange Coinbase has added Dogwifhat (WIF) and PEPE (PEPE) on its list of supported coins. Unsurprisingly, the prices of these coins reacted positively.

On November 13, Coinbase said it added support for Dogwifhat on the Solana network (SPL token).

“Once sufficient supply of this asset is established, trading on our WIF-USD trading pair will launch in phases,” it said.

On the same day, the exchange added support for the PEPE meme coin on the Ethereum network (ERC-20 token) under the same conditions and warnings.

Notably, support for all these (and other) meme coins remains restricted in some supported jurisdictions.

Both coins reacted positively to the news.

On the day of the announcement, WIF spiked 46.4% from $2.93 to $4.29 on November 14, currently trading at $3.52. It’s down 8.3% in a day and up 16.7% in a week.

At the same time, PEPE surged 91.7% from 0.00001272 on November 13 to 0.00002438 the following day. It’s now trading at $0.00002095.

Additionally, Coinbase plans to add more meme coins.

For now, it included Floki Inu (FLOKI) on its roadmap.

“Transfers and trading are not supported for these or any other assets until a listing is officially announced,” the announcement reads. “Depositing these assets into your Coinbase account before an official announcement may lead to permanent loss of funds.”

FLOKI’s price is down 1.4% in the last 24 hours, and it’s up 49% in a week. It currently trades at $0.0002598.

A spike can be seen on the day Coinbase published this announcement, November 15, while a longer upward trend, which started on November 9, is also noticeable.

BONK Surpasses WIF, Becomes Solana’s Top Coin Per Market Cap

Bonk (BONK) is now the top coin on Solana, with Dogwifhat (WIF) sitting in second place.

WIF’s current market cap is $3,521,036,642, while BONK’s stands at $3,554,477,255.

BONK was launched in December 2022. It’s market cap didn’t see much of a movement until a spike in December 2023 to $1.6 billion.

It then jumped to $2.47 billion in March, $2.73 billion in late May. Between November 3 and November 17 it increased by 214%, from $1.2 billion to $3.77 billion.

BONK market capitalization, 1-month chart:

BONK’s current price is $0.00005124. It’s down 8.5% in a day, up 101.7% in a week, and 116.5% in a month.

Meanwhile, since its launch in December 2023, WIF’s market cap saw a massive surge in February, jumping 1,439.66% between February 24 and April 1. It went from $297.5 million to $4.58 billion.

Another spike followed just recently, from $1.93 billion on November 4 to $4.27 billion on November 24.

WIF market capitalization, 1-month chart:

As for its price, it currently stands at $3.48. It’s down 9.6% in a day, up 16.8% in a week, and up 31.4% in a month.