Why are memecoins up today?
Memecoins are up today and have strongly outperformed the entire crypto market over the last week.
The recovery in cryptocurrency prices has seen the largest memecoins by market capitalization, with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) recording double-digit gains over the past week.
Cat in Dogs World (MEW), a Solana-based memecoin, rallied the most, gaining over 47.5% over the last seven days and 9.3% over the past 24 hours. It has added 112% to its value over the last 30 days. Mog Coin (MOG) followed with 39.6% weekly gains, and Brett (BRETT), came in third after climbing 25% in the same period.
Performance of top meme tokens by market capitalization. Source: CoinMarketCap
