The value of bitcoin reached a new high on Wednesday, surpassing $70,000. As a result, the leading meme coins also experienced significant increases in the past 24 hours. Shiba Inu (SHIB) saw a rise of 7.7%, while Dogecoin (DOGE) increased by 2.1%. Among the top five meme coins in terms of market capitalization, Floki (FLOKI) had the highest increase with a growth of 21.2% in the past day. However, the biggest gainer of the day was Boden (BODEN), which skyrocketed by 46%.
The overall meme coin market has seen a 4.6% increase against the US dollar, reaching an estimated value of $68.78 billion. Four out of the top five meme coins experienced gains, with FLOKI leading the pack with a 21.2% rise. The only exception was Pepe (PEPE), which declined by 0.8%.
DOGE saw a 2.1% increase, SHIB climbed by 7.7%, and WIF grew by 4.1%. While most of the top meme coins showed positive performance, JEO Boden emerged as the top gainer of the day, with a staggering 46.4% increase. Non-playable coin (NPC) surged by 35.7%, and the meme token Wojak (WOJAK) recorded a 32.3% increase. Other notable meme coin gainers with double-digit rises include PENG, TYBG, TREMP, and MEOW.
On the other hand, several meme coins experienced significant declines on Wednesday. OPTI fell by 23.7%, OMIKAMI dropped by 19.3%, GME decreased by 18.7%, and STRUMP declined by 17.9%. Most meme tokens associated with the Gamestop, Roaring Kitty, and Wall Street Bets trend recorded losses in the past 24 hours. Meme coins have had a remarkable performance this year, and the current market cap of $68.78 billion represents 2.48% of the entire $2.77 trillion crypto economy.
What are your thoughts on the rise of meme coins on Wednesday? Feel free to share your opinions in the comments section below.