Memecoins
3 Meme Coins That Will Outperform Ethereum in May 2024
Following the recent market crash that shook the cryptocurrency world, there has been a significant change in market dynamics. With Ethereum (ETH) remaining at $2,915.90, recording declines of 1.76%, 4.93% and 5.68% over the past day, week and month, investors are seeking safety in other investments. The cryptocurrency sphere has been rocked by the recent market crash, which has caused both traditional assets and cryptocurrencies to suffer. However, in the midst of such turmoil, memecoins have emerged as unexpected saviors, going against market norms and outperforming even well-known giants like Ethereum. Pepe Coin (PEPE), Floki Inu (FLOKI) and GameStop (GME) are some of the emerging stars in the cryptocurrency world, attracting attention with their rapid growth and making waves in the industry.
What is the reason behind the surge in Meme Coins?
The resurgence of meme coins gained considerable momentum afterward GameStop rally on Wall Street, a phenomenon that caused a stir in the financial markets. GME stock price rose after Keith Gill, also known as The roaring kitten, he tweeted for the first time, after three years, and having been associated with Gamestop.
Following the rally, the meme coin industry saw a whopping 34% increase in daily trading volume, resulting in a significant increase of $5 billion to investors’ wealth. This sudden change in circumstances has thrust memecoins into the spotlight, igniting a wave of new interest and investment craze.
Top 3 Memecoins that outperform Ethereum
PEPE, FLOKI, and Gamestop (GME) emerged as the best-performing meme coins today, surpassing ETH.
1. Pepe Coin (PEPE)
PEPE, named after the famous Internet meme, has made waves in the cryptocurrency world with its performance. Currently trading at $0.00001092, PEPE price has seen a 22.69% increase over the past 24 hours and a 33.84% increase over the past week.
With a market capitalization of $4.6 billion and trading volume of $2.4 billion in the last 24 hours, PEPE is proving to be a force to be reckoned with. Its circulating supply amounts to 420,689,899,999,995 PEPE, indicating strong investor interest in this memecoin.
2. FLOKI
Taking inspiration from Dogecoin price results and his Shiba Inu mascot, FLOKI has intrigued investors with its dog-inspired brand. FLOKI is now valued at $0.0001949, with a slight increase of 10.83% in the last day and a steady increase of 9.66% in the previous week. With a market capitalization of $1.86 billion and a trading volume of $497.6 million in the last 24 hours, FLOKI is making a name for itself in the memecoin market. The circulating supply of 9,556,698,553,895 FLOKI shows growing interest from both traders and investors.
3. GameStop (GME)
After the infamous GameStop rally on Wall Street, GameStop Corp. (GME) has entered the memecoin realm in a bold way. At the current price of $0.01178, GME has seen an increase of 290.97% in the past day and a growth of 1588.16% in the past week.
GME has become popular among meme enthusiasts thanks to its market capitalization of $81.1 million and trading volume of $177.2 million over the past day. The circulating supply of this memecoin has not yet been established, but the excitement surrounding it is undeniable.
Conclusion
As Ethereum faces challenges following a recent market downturn, meme coins like PEPE, FLOKI, and GameStop are taking advantage of the moment to stand out. These meme coins they are captivating traders and investors globally with their unique themes, viral marketing and rapid surges in value. While the future success of memecoins is unknown, it is evident that memes are influential in the ever-evolving world of cryptocurrencies. It will be interesting to watch the performance of these meme coins in the coming weeks and months as the market recovers and adjusts.