April 20th was celebrated as Doge Day, and within 24 hours, Dogecoin – the beloved dog-themed meme coin – was among the cryptocurrencies that saw a significant increase in value as the crypto market regained its stability.
Dogecoin Makes Strides
As reported by the crypto data aggregator CoinMarketCap, Dogecoin (DOGE) experienced a 6.22% increase in value over the past 24 hours, with over $1.5 billion worth of DOGE being traded during this time period.
Currently priced at $0.1615 per token, Dogecoin has seen a 6.2% rise from a week ago and a 3.6% increase from a month ago. However, it is still down by nearly 19% compared to its value two weeks prior.
Shiba Inu Surges
Ranked as the 11th largest cryptocurrency in terms of market capitalization and the second-largest meme coin globally, Shiba Inu (SHIB) also experienced a positive 24 hours, with its price increasing by over 16%.
This increase marks a continuation of Shiba Inu’s upward trend that began over a week ago, following a period of correction. The coin saw a trading volume of $1.4 billion, making it the eighth most traded cryptocurrency in the market.
Floki Leads Meme Coins
Among the top five meme coins by market cap, Floki (FLOKI) showed the highest price increase in the past 24 hours. Trading at $0.0001705, FLOKI saw a more than 20% rise, despite having a lower trading volume compared to DOGE and SHIB.
Floki’s current value is over 16% higher than a week ago and a staggering 454% higher than a year ago. However, the coin is still down by nearly 17% over the past seven days and over 23% lower over the last 30 days.
ERC20 Takes the Lead
The top-performing meme coin in terms of price increase over the last 24 hours was ERC20, which saw a remarkable 1,231% surge in value during that period. Solama, Popcat, and Bonk (BONK) also showed strong performances, with price increases of 96%, 48%, and 41%, respectively.
Overall, the meme coin market saw significant movements, with some coins experiencing substantial gains while others faced challenges.