2 weeks Ago By Aniket Verma
Memecoins created on the Solana SOL/USD blockchain withstood the overall market drop on Monday to post encouraging gains. What happened : Dog-themed Bonk emerged as the best-performing billion-dollar capitalization meme coin in the last 24 hours and the third-best cryptocurrency overall, surging over 8%. The token's trading volume soared 92% to $486 million, indicating heightened demand.
Dogwifhat , the largest memecoin on Solana by market capitalization, jumped 4.6% to extend its weekly gains past 40%. In fact, both BONK and WIF were up more than 40% over the week.
Cryptocurrency Gains +/- Price (Recorded at 11:15 p.m. EDT) Bonk BONK/USD +8.
06% $0.00002485 dogwifhat (WIF) +4.66% $2.
51 Popcat (POPCAT) +1.08% $1.01 Popcat , the cryptocurrency market's biggest gainer this year, also traded in the green.
The feline-themed coin was up a massive 12317% year-to-date. Meanwhile, blue-chip meme currencies like Dogecoin DOGE/USD and Shiba Inu SHIB/USD retraced 3.90% and 1.
68%, respectively. The total meme coin market valuation shrank nearly 5% in the last 24 hours. See Also : Pay Taxes With Bitcoin? Ohio Senator Proposes Bill For Crypto Tax Payments, But There’s A Catch Why It Matters : The strong performance of Solana-based meme coins coincided with the broader market decline owing to an escalation in geopolitical tensions in the Middle East.
Bitcoin BTC/USD , the market bellwether, was down 1.36% in the last 24 hours, while Ethereum ETH/USD traded flat as of this writing. SOL, Solana’s native coin, lost 1.
35% from yesterday. Image via Shutterstock Read Next: If You Invested $1,000 In Dogecoin When Mark Cuban And The Dallas Mavericks Welcomed The Meme Crypto, Here’s How Much You’d Have Now © 2024 Benzinga.com.
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