The meme coin market has been particularly active over the past 24 hours, but not all movements have been positive. The market capitalization of meme coins fell by 6%, bringing the total down to $40 billion. Despite this decline, a few coins managed to post gains, with Wrapped DOG (WDOG) leading the charge with a 45% increase, reaching $0.01731.
Top Meme Coin Performances Several meme coins related to Donald Trump and MAGA have also seen varied performances. While some of these coins experienced gains, many others faced losses. For instance, IlluminatiCoin (NATI) rose by 10.3%, AMATERASU OMIKAMI (OMIKAMI) increased by 2.4%, and Cat-Dog (CATDOG) saw a modest rise of 1.2%. However, other coins like Smoking Chicken Fish (SCF) suffered a significant drop of 33.1% to $0.04063, with several others showing double-digit losses as well.
All top 10 meme coins by market capitalization are currently in the red. Turbo (TURBO) and Dogwifhat (WIF) experienced the most substantial declines, dropping by 11.6% and 10.8%, respectively. PEPE saw a 9% decrease, while Baby Doge Coin (BABYDOGE) recorded the smallest decline, down by 6.4%.
Iggy Azalea’s MOTHER Token Goes Live In a significant development, Australian rapper Iggy Azalea announced that her meme coin, Mother Iggy (MOTHER), is now live on the crypto exchange Bybit. The MOTHER/USDT perpetual contract, which allows for up to 12.5x leverage, is available for trading on the platform. Azalea has expressed her intention to have her token listed on more major centralized exchanges (CEXes) in the future. Alongside the listing, she announced a “Cexy MOTHER X BYBIT merch drop,” with special airdrop opportunities for new users who register under Mother Iggy during the event.
Despite the excitement surrounding its launch, the price of MOTHER has dropped by 9.3% in the last 24 hours, trading at $0.04252. However, it remains up by 32% over the week and 28.6% over the past month, showing resilience in the volatile market.
TRUMP/MAGA Coins Show Mixed Performance Meme coins associated with former President Donald Trump and his “Make America Great Again” (MAGA) slogan have shown mixed results. Pepe Trump (PTRUMP) fell nearly 11%, and Super Trump (STRUMP) dropped by 9.6%. On the other hand, the largest of these coins, MAGA (TRUMP), declined by 2.1% but is still up 5% over the past week. Notably, MAGA Hat (MAGA) surged by 21% to $0.0000608, and Maga Fight For Trump (TRUMPCOIN) saw a 41.1% increase.
Donald Trump Jr. recently announced plans to launch a new decentralized finance (DeFi) platform aimed at challenging traditional banks, although specific details are yet to be revealed. The Trump family’s engagement with the crypto space seems to be increasing, likely as part of broader strategies tied to the upcoming 2024 U.S. presidential election.
KAMA Coin: Kamala Harris-Linked Token Sees Ups and Downs The KAMA coin, associated with U.S. Vice President Kamala Harris, experienced a 9.1% decline in the last 24 hours, trading at $0.01447. Despite this short-term drop, the coin has seen a significant rise of 45% over the past week and 48.5% over the past month. This performance has outpaced the MAGA (TRUMP) coin, which has fallen by 50% in the same period.
In political developments, Kamala Harris has overtaken Donald Trump in some recent polls and betting markets predicting the 2024 U.S. presidential election winner. However, Harris has been relatively quiet on cryptocurrency issues, a stark contrast to Trump’s more vocal stance. As the election approaches, Harris may face increasing pressure to clarify her position on digital assets, which could influence voter support.
Conclusion The meme coin market remains highly volatile, with significant fluctuations in both lesser-known tokens and those tied to prominent figures like Iggy Azalea, Donald Trump, and Kamala Harris. As the market evolves, investors should remain cautious, given the rapid and often unpredictable changes in token values.
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