Memecoin Market Value Soars Over 27% in Last 24 Hours

Memecoin's market capitalization has risen more than 27 percent in the last 24 hours, with major modal coins such as Dogebonk and Bonk up about 34 percent and 54 percent, respectively, according to the block. Market analysts said, "Bitcoin is rapidly approaching its previous all-time highs, and as market risk increases, capital will begin to flow into more speculative tokens, with diecoins at the top of the list."

Venture capitalists are increasingly interested in memecoins, including Floki, a token named after Elon Musk's Shiba Inu, and Ajav Dhingra, head of research at Unizen, said some of the recent memecoin rally "has been driven largely by venture capital firms like DWF Labs. Ajav Dhingra, head of research at Unizen, said that some of the recent memecoin rally "has been largely driven by venture capital firms like DWF Labs.