Meme Coin Market Cap Surges $17 Billion: Dogecoin, Shiba Inu Lead Gains

The meme coin market is experiencing a significant rally, with its total market capitalization increasing by approximately $17 billion this month. According to CoinTelegraph, citing CoinMarketCap data, the market cap has jumped from $55 billion to $72 billion. This surge is fueled by increased trading volume and positive price action across major meme coins. Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have all shown gains over the past week. Other notable performers include Floki (FLOKI), Pudgy Penguins (PENGU), and Bonk (BONK), which have seen rises between 45% and 72%. The rise of Ethereum (ETH) and Solana (SOL) may be contributing factors, providing platforms for new meme coin launches and increased accessibility for traders. This renewed interest suggests a continued appetite for speculative crypto assets within the broader market. ```