Will The Meme Coin Market Cap Hit $100 Billion on Bullish Drive?
Crypto assets have seen significant inflows in recent weeks with meme coin bulls tipping more inflows. This week, market sentiments flipped with renewed spot Ethereum ETF anticipation which sparked surging inflows. At press time, the crypto market capitalization stands at $2.57 trillion, soaring 3% in the last 24 hours.
Amid gains, coins have marked double-digit gains with some assets trading 100X today igniting bullish sentiments. With the present market frenzy, some bulls suggest a new all-time high could be on the horizon. The meme coin market capitalization is $60.5 billion, a 13.4% increase today. As expected, a bullish trend will benefit meme tokens as investors look to make quick gains in new assets.
New Inflows Can Spark Assets
The market has seen flows alongside the community rallying more gains. Although a jump to $100 billion is a far stretch, inflows to dog-themed tokens and Solana meme coins have soared in recent weeks. Trading volumes and on-chain activities have also spiked for these assets as expectations grow.
Daily trading volumes are over 180% today with bulls projecting more gains to a new all-time high for most tokens. For meme coins to break all-time highs, positive market sentiment must remain bullish like in Q1 2024 and 2021. Both time frames saw BTC and meme assets rally to new all-time highs.
Top Meme Coin Gainers
The market has recorded sustained growth in old and new meme tokens this week. Base Pro Shops is the highest gainer with 148% while United Base Postal and Higher notched 130% and 81% respectively.
Meme coin leader, Dogecoin (DOGE) is up 5% today and 13% in the last seven days while Shiba Inu trades sideways today but saw 8% inflows this week. PEPE is the biggest gainer among top meme coins with 23% daily growth and 18% weekly surge.
Lowering inflation and the inflows to crypto assets by institutional investors can rally the price of meme tokens as bulls set sights on a new run.
Also Read: PEPE Vs GME: Which Meme Coin is Close to $1?
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