The meme cryptocurrency sector is in the process of stunning recovery
Solana-based meme coin upstart dogwifhat has managed to outperform both Dogecoin and Shiba Inu by daily trading volume, according to data provided by Pepe , another prominent meme coin, is in second place with $518 million worth of trading volume over the same period of time. Shiba Inu, the second-biggest meme coin with a market cap of $10.2 billion, is only in sixth place with a relatively modest trading volume of $172 million. In fact, it has fallen below Bonk and Floki Inu .
The figures show that traders show more interest in less established meme coins compared to the current market leaders. Overall, the entire meme coin sector is in the green, with some prominent meme coins recording double-digit price gains.that the meme coin could be in the process of building a massive descending wedge on higher time frames.
In the meantime, PeiPei has found itself among the leaders of the meme coin sector with its trading volume approaching the $150 million mark. The relatively obscure altcoin is up as much as much 37% over the past 24 hours, becoming one of the best-performing cryptocurrencies in the top 10. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.
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