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Tracking the Spike of Dogecoin, Shiba Inu, Trump Tokens, and Other Cryptocurrencies in Meme Coin Craze

The frenzy surrounding meme coins in the world of cryptocurrency is still ongoing, as investors are drawn to their unique combination of humor, speculation, and unexpected profits. The sector currently has a total value of $66 billion and a daily trading volume of $5.3 billion.

Based on stats from CoinGecko, meme-based cryptocurrencies have a notably larger overall market value when compared to other well-known digital currency trends such as AI, DePIN, and layer-2 solutions.

Could Dogecoin be considered a dormant force to be reckoned with?

As of May, Dogecoin (DOGE) has been consistently rising in the crypto market, ranked as the ninth overall and first among meme coins in terms of its market capitalization. With 84% of its holders currently seeing gains, the cryptocurrency has seen significant upward movement in recent weeks.

Dogecoin has recently risen above Cardano (ADA) in terms of market capitalization, claiming the sixth spot as one of the top cryptocurrencies. With a value of $0.159, Dogecoin has experienced a growth of 20.8% in the last month.

If Dogecoin’s trading volume stays consistent, it may continue on its upward path in the upcoming week. DOGE’s technical signals indicate a bullish pattern, as the coin is currently trading above both its 200-day Simple Moving Average (SMA) and Exponential Moving Average (EMA).

Experts forecast additional price surges for Dogecoin, pointing to parallels in market outlook to previous months when DOGE experienced a 200% surge.

“The Shiba Inu coin has surpassed Bitcoin in terms of performance, establishing itself as a popular meme currency.”

During 2024, Shiba Inu (SHIB), which holds the second highest market capitalization among meme coins, has displayed remarkable performance. Surpassing Bitcoin’s 69% increase, SHIB skyrocketed by 136% at one point, showcasing impressive progress.

Beginning at a value of less than $0.000025 last week, Shiba Inu experienced a significant increase and reached almost $0.00003 by the end of the week, resulting in its position among the top 10 most valuable cryptocurrencies. SHIB was also the second most profitable coin on Robinhood’s ranking for the month of May.

SHIB’s current trading price is at $0.00002498, with a minor decrease of 1.4% over the span of 24 hours.

Pepe: Relentless in Pursuit

Pepe (PEPE) has shown significant growth lately, currently holding a market capitalization of $6.26 billion and a trading volume of $846 million in the last 24 hours. Although there was a 4.3% decline in value in the past day, Pepe has achieved impressive gains during various time periods.

Pepe has experienced significant price growth in the last month, solidifying its status as a top competitor in the meme coin industry. Industry experts are optimistic about Pepe’s future prospects and predict continued growth in the upcoming months.

“Super Trump: The Intersection of Politics and Financial Markets”

After being found guilty of manipulating business documents, ex-President Donald Trump’s conviction has sparked a rise in popularity for meme coins related to him. One such coin, Super Trump (STRUMP), saw a 58% increase in value over the past day, ranking as the third-highest performing coin in the meme market.

At a price of $0.0255, STRUMP has experienced significant growth, rising by 493.8% in the last two weeks and jumping by 616.4% in the span of 30 days.

Various Trump-related meme coins such as MVP, TRUMP, MAGA, and MAGAPEPE have displayed different fluctuations in their value, with some seeing decreases and others experiencing moderate increases.

Despite changes in the stock market, Trump has achieved a historic milestone by being the first U.S. president to receive campaign donations through Bitcoin’s Lightning Network, thanks to a collaboration with OpenNode.