In the memecoin market, those themed around dogs, cats and frogs are currently dominating the charts. Despite the rise of frog and cat-themed tokens, those based on dogs continue to dominate trading volumes. Remarkable growth is seen in these meme coins like DOGE, Shiba Inu etc. Prices skyrocketed by triple and quadruple digits as crypto markets approached record highs.
How’s the memecoin market doing?
In the past day, dog-themed coins particularly Dogecoin (DOGE) and Shiba Inu (SHIB) have collectively generated more than $29 billion in trading volume, according to data from CoinGecko.
Conversely, cat-themed tokens like Solana-based Popcat (POPCAT) amassed a trading volume of $49.7 million in the same period, as reported by CoinMarketCap.
Among animal-themed tokens, some have outperformed others. In the past month, the top-performing dog token has been the Solana-based meme coin dogwifhat (WIF) which saw an impressive 593% increase in value, rising from $0.22 on Feb 4 to $1.51 as of press time.
Since its launch on Nov 20, WIF has yielded returns exceeding 100,000%. However, only a few traders would have realized such substantial gains on the token.
On the other hand, the best-performing cat-themed coin during the same period has been the Solana-based Popcat (POPCAT) which experienced gains of over 1,314% over the past 30 days, surging from $0.006 on Feb 4 to $0.089 at the time of writing.
Shiba Inu and DOGE’s ‘significant’ performance
Dogecoin and Shiba Inu have both seen significant spikes in value recently in a market where the word ‘significant’ can’t be used much. Dogecoin gained about 100% and Shiba Inu soared by over 273% in the past week.
Apart from these popular canine-themed coins, a few frog-themed tokens like Pepe (PEPE) have also performed remarkably well.
Considered dormant for a while after experiencing a substantial drop of 83% from its previous all-time highs in May 2023, Pepe suddenly saw a surge in both price and trading volume starting on Feb 25. Surpassing its previous peak value of $0.00000372 on March 2, Pepe’s value has since doubled.
As of now, Pepe is trading at $0.00000734, marking a remarkable 720% increase in the past 30 days. Pepe’s trading volume has been equally impressive, totaling over $4.2 billion in the last 24 hours alone.
