Memecoin Market Cap Hits $55 Billion: Moo Deng Popcat Neiro Lead
Memecoin Mania
- The memecoin market dominance shows no signs of slowing down this October.
- NEIRO and POPCAT have emerged as the top performers over the past 30 trading days.
This memecoin dominance appears firmly entrenched as the excitement remains high leading into a potential market recovery in Q4 2024.
As the market bounces back, Moo Deng [MOODENG], Popcat [POPCAT], and First Neiro on Ethereum [NEIRO] are spearheading the memecoin resurgence.
Source: CoinMarketCap
Charitable Contributions in Memecoins
The remarkable recovery of MOODENG on October 8 is noteworthy, considering it had plummeted by over 60% during recent days.
Vitalik Buterin, Ethereum’s founder, has publicly praised several memecoin teams for their commitment to charity by offering him tokens meant for donation—MOODENG being one among them.
I applaud memecoins that allocate a portion of their supply for charitable causes. Moodeng, thank you for your donations! Today’s contribution of 10 billion will be directed towards technological advancements to combat airborne diseases.
Buterin advocates for meaningful meme coins specifically aimed at charity while discouraging favoritism towards certain internal teams. Earlier in August, he donated a substantial amount of NEIRO.
The Growing Market Size
The late September rebound has significantly bolstered the overall memecoin market cap.
Citing CoinMarketCap data: total market capitalization surged from $25 billion to $55 billion by September’s close..
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Despite slight fluctuations; recent upswings indicate progress toward reaching $50 billion—this represents an additional $15 billion value amassed within meme coins over just one month.
According to Kaito’s report; specialized attention within the memecoin sector reached record levels reinforcing its narrative around dominance and supercycle conditions.
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