30s Summary

Crypto prices have rebounded, with popular meme coins like Dogecoin, Shiba Inu, and Pepe seeing over 10% gains in the past week. Meme coin Cat in Dogs World saw a 47.5% increase, while Mog Coin and Brett climbed 39.6% and 25%, respectively. A single-day rally on October 18th gave additional boosts to these coins. Experts link Bitcoin’s recent surge past $68,000 with a potential major upswing for meme coins, spurring talk of a “memecoin supercycle.” The market cap for meme tokens increased by 48.6% over the past month, totaling $57.4 billion. Furthermore, meme coin trading has increased by 140% in less than a month.

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Crypto prices have been bouncing back, with the biggest meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) experiencing pretty impressive gains. They’ve all gone up more than 10% this past week.

But over the past week, Cat in Dogs World (MEW), a meme coin based on Solana, really stole the show. It shot up more than 47.5% over the last seven days and 9.3% just in the past day. In the past month, it’s more than doubled in value. Mog Coin (MOG) saw a significant 39.6% weekly boost too, and Brett (BRETT) climbed 25% in the same timeframe.

Then there’s the meme coin rally on October 18, with DOGE, SHIB and PEPE seeing increases of 10.2%, 4% and 2.8%, respectively, in just 24 hours. And Dogwifhat (WIF) took a huge 63% leap.

Some people are wondering if we might be in a “memecoin supercycle.” With Bitcoin (BTC) recently charging past $68,000, some experts think that a major meme coin upswing could be next.

The memecoin supercycle theory suggests a bunch of factors could ramp up the market and drive incredible growth for meme coins. For example, the growth of Bitcoin’s price could be a trigger. Plus, meme coins are becoming increasingly popular as they’re backed by passionate communities and represent a simple, fun way to potentially make big money.

Roughly speaking, the market capitalization of meme tokens has gone up 48.6% over the past month and up 4% just in the past day, reaching $57.4 billion. This suggests investors are really starting to feel confident about meme coins.

The amount of meme coin trading has also gone up by a whopping 140% from $3.8 billion on Sept. 18 to a high of $9.1 billion on Oct. 16. The current trading volume is still pretty solid at $7.4 billion.

Data also reveals that the weekly transaction flows for meme coins across all blockchains, including Ethereum, Solana and Tron, surged 161.7% from about $110.5 million in early September to $289.2 million in the first week of October.

All in all, it’s been a big period for meme coins. But as always, remember that all investment and trading comes with risks, so be sure to do your research before jumping in!

Source: Cointelegraph