Meme coins bounce back: Shiba Inu leads market surge with 6.4% gain

Several large-cap meme coins, including Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) registered upticks in the last 24 hours.

Data from the crypto price tracking website CoinGecko shows that the value of the overall meme coin market is up 2.4% to $44.75 billion. 

Shiba Inu has been one of the main drivers of this improvement, registering an uptick of 6.4% over 24 hours. 

In that time, the meme coin’s price oscillated between $0.00001596 and $0.0000171 and is currently at $0.00001698. The uptick was accompanied by a 24-hour trading volume of $217.8 million.

Shiba Inu’s price was also nearly 7% higher than a week ago, although it lost 0.8% of its value in the previous fortnight. The news was also similarly bleak over 30 days, with the price of SHIB depreciating by nearly 21% in that time. 

Another notable performer among meme coins in the last 24 hours is Brett (BRETT), up 5.1% at this writing.

Ranked at #72 in terms of market cap among all cryptocurrencies and #7 among meme coins, Brett has endured a torrid month, losing more than 22% of its value. 

Interestingly, the slide started soon after the meme coin hit its all-time high (ATH) price of $0.1933 on June 9. It largely stayed above the $0.15 level until July 4, when it slid to as low as $0.1079. 

Its current price is still 40% lower than its ATH, although it is a whopping 13,564% higher than its all-time low price from earlier in the year.

Dogwifhat (WIF) and Pepe are also up 4% in the last 24 hours. Like the other meme coins mentioned in this piece, WIF and PEPE have endured a difficult 30 days, with the price of WIF down 36.8% and that of PEPE down 30% in that time.

Over the past seven days, WIF has lost 19.2% of its value, while PEPE has dropped 4.5%. Both have underperformed in the global crypto market, which is up 2.6%. 

According to CoinGecko, PEPE also underperformed similar Ethereum ecosystem cryptocurrencies, which are up 12.70%.