Memecoins
Ethereum-based meme coins surge up to 161% fueled by ETF speculation
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The possibility of an Ethereum ETF spot approval this week has triggered price jumps among Ethereum Virtual Machine-based meme coins, according to data aggregator DefiLlama. HarryPotterObamaSonic10Inu (BITCOIN) and Mog Coin (MOG) jumped 46.8% and 51.7%, respectively.
Wojak and Hemule saw an even more significant rise, rising 66.3% and 89% respectively over the same period. Other Ethereum-based meme coins with double-digit gains include Milady Meme Coin (LADYS), Welsh Corgi Coin (WELSH), and lmeow (LMEOW), with growth of 40.8%, 23.5%, and 56.5% respectively. .
Pepecoin (PEPE), which is now the third largest meme coin by market cap, jumped 32% in the last 24 hours.
In particular, meme coins in the Base ecosystem have seen up to triple-digit gains, such as Base Pro Shops (BPS) and its daily jump of 161%. United Base Postal (UBPS) is also among the rising Base meme coins, up 102% over the same period.
Dog Ski Mask (SKI), in addition to its 111% gain, has also surpassed $1.6 million in trading volume since May 20. Normie (NORMIE), one of Base’s “gems”, has seen even greater interest from investors with its trading volume of over $9 million. , which led to an increase of 73.6%.
Briun Armstrung (BRIUN), which is the misspelled name of Coinbase founder Brian Armstrong, also made significant moves with a rise of 55.2%.
The recent price increases witnessed by meme coins have caused the total market capitalization of this cryptocurrency sector to exceed $62 billion, surpassing cryptocurrency categories such as liquid staking tokens, DePIN and decentralized exchange tokens, as well as cryptocurrency wallets. investment from funds such as DragonFly Capital, Coinbase Ventures and Binance Labs.
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