JAKARTA - The GMCI index for meme coins has risen nearly 10 percent in the past 24 hours, driven by rising key token prices such as SHIB, DOGE, and PEPE.
The token that experienced the highest increase was SHIB, which jumped 5.36 percent to US$0.000019 in the past day. Now, SHIB has more than a quarter of the weight of The Block's GMCI meme index.
DOGE is in second place with a weight of 23.3 percent, an increase of 3.88 percent to 0.13 US dollars. Meanwhile, PEPE is in third place with a weight of 16.4 percent, an increase of 19.55 percent to 0.000012 US dollars in the past day, according to data from The Block Prices.
Shift to Political Meme Coin
Political Meme coins have also changed in the last 24 hours. CoinGecko reports that BidenCoin, a Meme coin whose name was deliberately misspelled for United States President Joe Biden, increased 4.1 percent to 0.035 US dollars. Meanwhile, MAGA tokens decreased by 4.35% to 7.87 US dollars.
SEE ALSO:
After Republican presidential candidate Donald Trump voted for US senator JD Vance of Ohio as vice president, Coin Meme MAGA VP decreased by about 56 percent to USD 0.1192 during the same period, according to crypto price tracker CoinMarketCap.
Price increases on Meme Coins such as SHIB, DOGE, and PEPE show strong interest from investors in this category of digital assets. While volatility remains the hallmark of Coin Meme, this significant price move reflects positive market sentiment and strong speculation from the crypto community.
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