Crypto Blog
With the top 100 meme coins posting massive gains over the past week, the on-chain data suggests that profits are swiftly flowing into speculative assets with limited liquidity.The OG meme coin – Dogecoin – surged by over 23% during the same period, catapulting its price to $0.188. Over the past 24 hours alone, the token gained approximately 10%.
PEPE, the third-largest meme coin by market cap according to CoinMarketCap, was up by 51.17% over the past week. The latest price action has extended its monthly gains to nearly 825%, even as whales took FLOKI – the fifth largest meme coin – has gained almost 130% in the past week. A factor that could have contributed to the impressive price surge might be the Floki DAO’sto burn more than 190 billion tokens. This move effectively reduces the available supply of FLOKI in circulation, which could lead to an increase in its value due to heightened scarcity, provided that demand remains stable or rises.
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