In this week’s meme coin news, the global cryptocurrency market cap is currently at $2.47 trillion, and meme coins are not performing well. Among the top 10 meme coins, BONK saw a significant loss of 7%, while Dogecoin (DOGE) remains at the top per market capitalization. However, over the past 7 days, Dogecoin has seen significant gains, appreciating by 12.76%. Other meme coins such as Dogwifhat (WIF), Pepe, Floki, and Shiba Inu have also experienced increases in the past week. Looking at the performance of the top 100 meme coins, BONE has been the best performer, with only seven other coins showing gains. On the other hand, Kangal, Dogebonk, Wen, and Shib Original Vision have all experienced losses between 95% to 99.9%.
The biggest meme coin news this week is that Tesla is now accepting DOGE as payment for its products. The payment page has been updated to include Dogecoin as a payment method for Tesla products. Users will need a Dogecoin wallet to make a purchase, and all Dogecoin purchases are final, meaning orders cannot be canceled or returned. Despite these drawbacks, the inclusion of DOGE as a payment method is a significant milestone for the meme coin.
Dogeverse, one of the hottest meme coins currently, is the first meme coin operating across six major blockchains. The project raised over $13 million through its presale, with plans to list its native token (DOGEVERSE) on different exchanges. The main idea behind Dogeverse is to create a joint crypto universe for coin holders to trade across different blockchains. The rising investment in Dogeverse suggests investor confidence in the project’s potential and market demand for the token.
In other meme coin news, a whale withdrew 915.85 billion PEPE coins from the Binance exchange, totaling 1.238 trillion PEPE in two transactions. The whale made withdrawals at an average price of $0.000008424, equivalent to $10.4 million. Additionally, a smart trader made their ninth trade, swapping 1.262M USDC for 142.96B PEPE at an average price of $0.000008831, realizing a cumulative profit of $917,000 with a win rate of 75%. This whale and smart trader’s transactions with PEPE coins highlight the dynamic trading environment of meme coins.
Overall, meme coins continue to be a significant part of the cryptocurrency market, with various coins experiencing fluctuations in value. From the acceptance of DOGE as a payment method by Tesla to the successful presale of Dogeverse and large withdrawals of PEPE coins by a whale, meme coins are making headlines in the crypto space. Investors and traders interested in meme coins should monitor market trends and developments to make informed decisions about their investments in this volatile market.
