Meme Coin Market: The meme coin craze is back again and growing super fast, thanks to Bitcoin jumping to a brand new all-time high of more than $118,000. After this major rise, meme coins started going up too. A report by CoinCentral shared that coins like Dogecoin, Shiba Inu, and even some weird tokens like Fartcoin and Pengu are now getting a lot of attention and showing strong gains.
according to ET, the total value of all meme coins together has touched $66 billion. Dogecoin went up by 18%, Shiba Inu jumped by 15%, and Pepe exploded with a 30% rise, all within a week, which shows how fast things are moving in the meme coin world. These kinds of coins are known for being fun, silly, and unpredictable, but this week, they’re performing better than many serious ones.
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On July 10, reports said Dogecoin grew 5.5% and reached a market value of $28.7 billion. At the same time, Shiba Inu moved up by 4.8% and hit a market value of $7.7 billion. This wasn’t just limited to the popular ones though.
The whole meme coin space is booming. Pepe saw a boost of 8.2%, Bonk gained 10.3%, and some of the strangest ones like Fartcoin rose 13.4% and Pengu soared 26.6%. These numbers came from The Street’s report, which also said this whole part of the market is in full rally mode right now.
What’s interesting is that these coins don’t always have strong technology or real-world use behind them. But they still attract lots of people, especially younger traders and internet users who like the idea of turning jokes into money. It’s like the internet is making fun of how serious the finance world is, but people are still making real profits off these silly coins.
The growth in meme coins is also happening while Bitcoin and Ethereum keep going up. Ethereum just passed $3,000 again. All this energy in the market is making investors more excited. But the reasons go deeper than just big prices. There’s a lot of fear building about rising inflation in the US.
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When regular money loses value because prices keep going up, many people look for new places to put their money. That’s why more and more are turning to crypto. Meme coins, even though they started as jokes, are now being taken seriously by some of these investors.
A lot of this anti-fiat money feeling got more attention after Elon Musk made a bold comment on social media. Someone asked him if his possible political group, the America Party, would support Bitcoin.
Elon replied, “Fiat is hopeless, so yes.” This reply, reported by CoinCentral, shows that even powerful tech billionaires are losing trust in traditional money systems. Comments like this can push more people into crypto, especially into tokens that go against the rules of normal finance.
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