After a period of stagnation, meme coins have regained attention this July, signaling a recovery in market demand. Among millions of new coins, FLOKI, BONK, SPX6900, and others have surged today, standing out in the market. Notably, despite ongoing market volatility, the focus is undoubtedly on these popular tokens rather than Bitcoin.
Meme Coins are regaining investor favor, with today's trading volume soaring to $2 billion.
With the overall recovery of the cryptocurrency market, digital assets are thriving today, showing rapid growth. As the cryptocurrency week progresses and Donald Trump hints at approving the GENIUS Act, investor sentiment is high. The Fear and Greed Index from CoinMarketCap is at 70 (GREED), and its impact is clearly visible in meme coins.
The market capitalization of these meme-themed cryptocurrencies has now grown to over $50 trillion, reaching a milestone of $712.7 billion. Additionally, trading volume has surged by $2 billion (up 42% today), currently reaching $17.58 billion.
In this sector, top meme coins like DOGE, SHIB, and PEPE are all in the rising zone. Notably, coins like FLOKI and BONK are performing even stronger, achieving double-digit gains today.
This is why the prices of FLOKI, BONK, and SPX6900 Meme coins are soaring.
FLOKI is one of the stocks with the highest gain today, with trading volume surging by 402%. This growth stems from market prosperity and an increase in investors' risk appetite, leading to heightened demand for meme-themed cryptocurrencies. Additionally, the AltSeason Index is also rising, fueling optimism about the upcoming altcoin season.
Today, it has risen by 33%, with a trading price of $0.0001320 and a market capitalization of $1.25 billion. Notably, BONK has been rising for consecutive days, up 171% this month and 27% today. This surge is driven by the growing external systems, open interest (OI), and trading volume of Solana meme cryptocurrencies, along with investor demand and bullish technical setups.
Experts point out that 100 BONK have been sold this week, alleviating selling pressure. Additionally, demand on its issuance platform is strong. The resulting fees have funded the repurchase of BONK, driving the price surge. Currently, its trading price is $0.00003937, with a 24-hour trading volume of $2.54 billion, a year-on-year increase of 77%.
SPX6900's popularity is relatively low compared to the other two indicators, but nonetheless, it has recently become bullish. A few hours ago, it reached a new high, increasing by 10% within 24 hours, with a trading volume of $191.48 and a rise of 90%.
Currently, its trading price is $1.77, with a market capitalization of $1.65 billion. Like most meme-themed cryptocurrencies, its market performance has improved, influenced by US CPI, PPI data, and other macroeconomic events.
Overall, retail consumers' FOMO, bullish sentiment in the cryptocurrency market, and shifts in investor sentiment are driving the rise of these meme coins.
