Meme coins stay on top as FLOKI, BOME, DOGE lead markets

May 14, 2024 at 3:07 pm

Edited by Brian Stone

Markets

Recent data highlights notable price and trading fluctuations in meme coins such as FLOKI, Book of Meme, and DOGE.

FLOKI has seen a significant increase in its price and trading volume over the last 24 hours. The token’s price has surged by 10.54% to $0.0002047. This growth has elevated its market capitalization by 10.05% to $1.95 billion, ranking it 51st in the crypto market. Additionally, its trading volume has soared by an impressive 225%, reaching $573.05 million.

In a recent X analysis, crypto analyst Captain Faibik highlighted a promising trend for FLOKI. According to his observations, FLOKI is currently breaking out of a bullish pennant pattern on the daily timeframe chart, suggesting a highly optimistic outlook for the midterm. The analyst expects a bullish rally of 180% to 200% for FLOKI.

Meme coins stay on top as FLOKI, BOME, DOGE lead markets - 1 — 24-hour chart of FLOKI from CoinMarketCap

Book of Meme (BOME), another meme coin, experienced a 4.60% rise in price to $0.01137. Its market capitalization has increased by 4.54% to approximately $784.44 million, positioning it at 96th in the market standings. According to CoinMarketCap, the trading volume for BOME also increased by 122.35%, totaling $620.69 million.

A user known as shatter.sol on the Solana network experienced a mixed fortune with BOME token, crypto.news reported. On March 13, the user bought 170.25 million BOME tokens for 50 Solana (SOL), equivalent to $8,500.

The following day, the tokens were sold for 767 SOL, valued at around $130,000. However, a surge in the token’s value the next day meant the Solana user missed out on a potential $950,000 profit.

Meme coins stay on top as FLOKI, BOME, DOGE lead markets - 2 — 24-hour chart of BOME from CoinMarketCap

DOGE, also known as the original meme coin, has witnessed a 3.8% increase in its price, now at $0.1532. Its market capitalization has grown by 4.33%, reaching $22.11 billion and securing the ninth rank among cryptocurrencies. According to CoinMarketCap, the trading volume for DOGE has risen by 103.73% to $2.11 billion.

Crypto trader AutoMcNatic recently tweeted about DOGE, suggesting a potential upward movement for the token. According to the post, if DOGE’s price exceeds $0.15, it could be set to rise towards $0.22, emphasizing the importance of macroeconomic factors.

Meme coins stay on top as FLOKI, BOME, DOGE lead markets - 3 — 24-hour chart of DOGE from CoinMarketCap

Crypto.news also reported earlier today that Pepe (PEPE) surged 21% in the last 24 hours, now trading at $0.0000102. The frog-themed meme coin’s whale transactions increased by 416%, with a notable rise in exchange activity. The asset’s Relative Strength Index suggests it is currently overvalued, indicating potential high price volatility.