Brakes are far from being applied to the meme coin craze that the market is witnessing currently, thanks to Roaring Kitty. Meme stocks and meme coins have been astronomically surging, and people aren’t tired of cheering “to the moon” under every meme investment’s post on CT.
The aggregate meme coin market cap has seen a 9% uptick over the past day, with the number clinching $55.7 billion. Amongst large and mid caps, Pepe coin stole the show by scripting a new all-time high around $0.00001118. In fact, Pepe’s 24-hour volume [$2.9 billion] was also higher than than of top coins like Solana [$2.4 billion].
A recent post by Lookonchain revealed that a trader shelled out 1.86 million USDC to buy 195 billion PEPE tokens pre-pump. Within half-a-day, he was sitting on an unrealized profit of $236k.
Several New Meme Coins Launched
Several meme coins with the GME ticker have also started floating around in the market lately. One rose by more than 1900% within a day. In fact, after Keith Gill posted a video featuring X Men’s Wolverine, several WOLVERINE tokens were also put to sea. Most tokens faded away within a few hours. The ones that managed to uphold their short-term green streak, weren’t liquid enough.
Dogecoin and Shiba Inu - the OG memes that individually led the meme coin hype phases in 2021 - were also trading in green. However, their 24-hour upticks ranged only in the 1-2% bracket, bringing to light their tarnishing interest amongst meme-hoarders. In fact, WIF and BONK were also in the same boat and registered insignificant single-digit deviations.
Coincidentally, Roaring Kitties posted a video with the lyrics, “The dog days are over," with cats walking around in the background. Unlike dog-memes, cat-themed tokens including MOG and POPCAT contradictorily rose by more than 20% each. Most of Gill’s videos have been cryptic so far, but people have been making speculations left-right-center. One among them is the bidding on cat memes.
Even meme stocks continued their upward streak on Tuesday. Both GME and AMC were trading 80% higher when compared to yesterday’s close.
