Meme Coin Market Cap Explodes to $58B, A 10% Spike in 24 Hours

IconCNT16 May, 2024

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Meme Coin Market Cap Explodes to $58B, A 10% Spike in 24 Hours

**Meme Coin Market Cap Surges to New Highs** According to CoinGecko data, the total market capitalization of meme coins surged by an impressive 10% over the past 24 hours, reaching a staggering $58 billion. This significant increase highlights the growing popularity of these cryptocurrencies, which have captured the attention of investors and enthusiasts alike. The Block reports that the top five meme coins - DOGE, SHIB, PEPE, FLOKI, and BONK - collectively account for a remarkable 77% of the entire meme coin market. This concentration suggests that a substantial portion of recent cryptocurrency investments are being directed towards these specific coins. **Previously on [date], [one liner summary of previous news].**

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