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Meme Token Economy Jumps Close to 10% Higher After Dogecoin Spike Fuels the Pack

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26
Apr
Meme Token Economy Jumps Close to 10% Higher After Dogecoin Spike Fuels the Pack

The top meme tokens by market capitalization saw a significant jump on Monday after being fueled by dogecoin’s recent price rise. Crypto meme coins like shiba inu, dogelon mars, and floki inu saw 2-13% gains over the last 24 hours. The entire meme token economy is worth $35.8 billion, up 9.4% today.

Meme Token Assets See Double-Digit Gains on Monday Following Dogecoin’s Rise

Following Elon Musk’s acquisition of Twitter for $44 billion, digital currency markets jumped in value and crypto meme tokens saw a significant spike. 24-hour statistics at 4 p.m. (ET) on Monday had shown dogecoin (DOGE) jumped 26.3% in value against the U.S. dollar.

Dogecoin (DOGE) is still up 18.8% today and is hovering just above the $0.15 zone. Many believe the rise is based on mere speculation that Musk could possibly implement dogecoin payments into some of Twitter’s operations.

Meme Token Economy Jumps Close to 10% Higher After Dogecoin Spike Fuels the Pack
DOGE/USD on April 25, 2022 at 9:00 p.m. (EST).

While dogecoin jumped in value against the dollar, a number of other popular meme coin assets followed DOGE’s lead on Monday. Shiba inu (SHIB) jumped 1.7% and dogelon mars (ELON) rose 13% higher against the USD during the last 24 hours.

Meme Token Economy Jumps Close to 10% Higher After Dogecoin Spike Fuels the Pack
ELON/USD on April 25, 2022 at 9:00 p.m. (EST).

While DOGE, ELON, and SHIB all saw percentage gains, the fourth largest meme coin asset baby doge coin (BABYDOGE) is still down 0.8% at the time of writing. Floki inu (FLOKI) on the other hand, jumped 2.1% higher against the U.S. dollar during the last 24 hours.

Meme Token Economy Jumps Close to 10% Higher After Dogecoin Spike Fuels the Pack
SHIB/USD on April 25, 2022 at 9:00 p.m. (EST).

Other notable meme token increases came from coins like kishu inu, samoyedcoin, catecoin, the doge NFT shards, and hoge finance. Litedoge (LDOGE) spiked 162.6% higher and vitoge (VITOGE) saw a 98.8% gain on Monday.

Jejudoge, dogefi, hotdoge, and shih tzu, all saw double-digit gains during the last day as well. Additionally, during the past 24 hours, dogecoin (DOGE) has seen $4.54 billion in global trade volume, while SHIB has seen $1.25 billion today.

Tags in this story
Baby Doge Coin, BABYDOGE, crypto assets, dogecoin, Dogecoin (DOGE), dogefi, floki, floki inu, hotdoge, JEJUDOGE, Markets, meme assets, Meme Coin Markets, Meme Tokens, Prices, shib, shiba inu, shiba inu (SHIB), shih tzu

What do you think about the meme token market action on Monday after Elon Musk acquired Twitter? Let us know what you think about this subject in the comments section below.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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