Memecoins Dominate Crypto Sector, According to Recent Report

Memecoins continue to dominate the crypto market with their gains, being the best performers not only in the past 24 hours, but last week as well.

As the crypto market started to recover after the recent decline, following Iran’s attack on Israel, some memecoins managed to register significant gains.

During the past 24 hours, as Bitcoin showed bullish momentum, almost reaching the $64,000 price level, the two biggest gainers were Mog Coin (MOG) and dogwifhat (WIF). MOG surged by over 16% and currently has a market cap of around $656 million, while WIF jumped by almost 15% and has a market valuation of around $2.6 billion.

In the past 7 days another memecoin caught crypto investor’s attention – the Solana-based Popcat (CAT). The altcoin surged by over 44% to $1.40, reaching a $1.37B market cap.

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Interestingly, the latest CoinMarketCap Q3 report confirms that memecoins have been the most popular category in the crypto space – a trend. that started gaining steam in September. Additionally, Solana topped Ethereum.

Memecoins are gaining steam, as investors are expecting the so called “altcoin season” to begin, propelling prices ot new highs.

Despite Bitcoin’s attempt to break past the $64,000 level, its price declined to around $63,000 at the time of writing.

Alexander Stefanov