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Cryptocurrency Meme Coin Market Update
Solana and Ethereum, which host some of the most significant and widely recognized meme coins, have shown gains in the past day. At the time of this report, SOL has surged by 10%, reaching $189.98, while ETH has increased by 6%, climbing to $3,541.
When analyzing the performance over the past week, a different trend emerges. ETH is currently 10% lower than its value a week ago, despite the recent implementation of the Dencun upgrade on the mainnet. This upgrade was eagerly awaited due to its potential impact on fees and transaction speeds on Ethereum Layer-2 networks, with benefits being gradually realized.
In contrast, SOL has seen a 10.2% increase since the previous Thursday. This positive performance has extended to various tokens trading on the network, particularly benefiting meme coins, including Floki Inu (FLOKI), which has recorded a 27% gain in the last 24 hours.
However, although FLOKI has experienced growth, with a current trading value of $0.0002297, it remains 19% lower than the previous week. Despite coming close to its all-time high in the recent crypto market rally, it fell short of surpassing $0.0003365, a level last reached in November 2021.
FLOKI and TokenFi Partnership Announcement
FLOKI AND TOKENFI TO BE THE OFFICIAL CRYPTO PARTNER FOR WORLD TABLE TENNIS CHAMPIONSHIP IN SOUTH KOREA, SET TO REACH HALF A BILLION PEOPLE#Floki and #TokenFi are making waves in the sports world by becoming the Official Cryptocurrency Partner for one of the largest World Table… pic.twitter.com/OxkXkzjcvh
— FLOKI (@RealFlokiInu) March 21, 2024
Recently, FLOKI was appointed as one of the official crypto partners for the World Table Tennis Championship in South Korea. Initially a meme coin inspired by Elon Musk’s dog, FLOKI has evolved into a comprehensive Web3 ecosystem, incorporating NFTs, a metaverse, DeFi, as well as Floki Visa and Mastercard gift cards.
Moreover, Dogecoin (DOGE) and PepeCoin (PEPE) have also observed substantial gains, with DOGE rising by 15% to $0.154 and PEPE increasing by 12% since the previous day. These meme coins typically mirror the movements of Bitcoin and the broader market, characterized by heightened volatility due to their meme status.
On Solana, Dogwifhat (WIF) has outperformed its Shiba Inu-themed competitor, BONK. WIF has surged by 15.5% recently, currently trading at $2.39 according to CoinGecko.
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