Meme Coins Surge in Value, Gaining $6.7 Billion in a Month With BONK, PEPE, and SHIB Leading the Rally

Meme coins have been on a tear over the past month, increasing by $6.7 billion and 39.18% since Nov. 8. While bonk (BONK) led the pack this past week, rising 153% against the U.S. dollar, several other meme coins like dogecoin, shiba inu, and pepe recorded double-digit gains.

Explosive Growth in Meme Coin Sector as Market Cap Hits $23.8 Billion

The meme coin economy is currently valued at $23.8 billion, up $6.7 billion from the $17.1 billion mark recorded 30 days ago. Nine out of the top ten meme tokens have witnessed double-digit gains over the past week.

The top two leaders, in terms of market valuation, DOGE and SHIB, jumped 19.1% to 21.5%, respectively. The third-largest, pepe (Pepe), rose 43.5% against the greenback over the past week.

BONK is up 153%, while FLOKI increased by 24.2% this week. MEME saw a 34.3% gain, and BABYDOGE has increased by 30.8%. CORGIAI was the only member of the top ten without double-digit gains, but it did rise 4.5% over the past seven days.

The tenth largest meme coin, dubbed “harrypotterobamasonic10inu,” rose by 31.9% against the U.S. dollar. Other notable gainers in the world of meme coins were DOG, TOSHI, HUAHUA, and NFD.

In fact, including BONK, a total of 11 meme-based crypto assets recorded triple-digit gains. A total of 53 meme coin assets recorded double-digit gains against the U.S. dollar.

The top meme coin, dogecoin (DOGE), has a market valuation of $14.12 billion, which equates to 59.32% of the entire meme coin economy. Shiba inu (SHIB) has a $5.97 billion market cap on Dec. 9, 2023, accounting for just over 25% of the meme coin market’s $23.8 billion.

What do you think about the gains meme coins have seen over the past week? Let us know what you think in the comments section below.

by Jamie Redman via Bitcoin News