Meme Coins Soar as Dogecoin Leads Rally to 3-Year Highs

In the ever-volatile world of meme coins, the latest rally is certainly one for the books. As the broader crypto market enjoys a rare streak of consecutive gains, meme coins—led by Dogecoin (DOGE)—are leading the charge, fueling investor excitement and driving some impressive numbers.

According to the latest data from CoinGecko, the meme coin market cap surged 18% in just the last 24 hours, surpassing a staggering $94 billion. More remarkably, daily trading volume has jumped to $51 billion, signaling that investors are keenly eyeing these quirky digital assets. This newfound energy has lifted the fortunes of popular meme coins like Dogecoin, Shiba Inu (SHIB), and a few lesser-known players like WIF and GOAT.

The meme coin rally started last week as the Republican candidate Donald Trump won the U.S. presidential elections.

Meme Coins Surge, DOGE Steals the Show

Dogecoin DogecoinDOGE24.07%Dogecoin is leading the category with a market cap of $41 billion, making it the sixth-largest digital asset — DOGE overtook XRP XRPXRP-0.63%XRP and USD Coin USDCUSDC0.2%USDC over the past week.

DOGE also emerged as the top gainer with a 24% surge in the past 24 hours. The leading meme coin is trading at $0.28 at the time of writing.

DOGE price | Source: crypto.news

Moreover, Dogecoin even breached a three-year high of $0.301 earlier today.

SHIB, WIF, GOAT take advantage

Dogecoin’s rally brought positive sentiment to other meme coins as well.

Shiba Inu Shiba InuSHIB12.02%Shiba Inu skyrocketed 40% after Shytoshi Kusama, its lead developer, suggested building a strategic crypto hub in the U.S. on Sunday, Nov. 10. The second-largest meme touched a five-month high of $0.0000278 following the announcement.

SHIB price | Source: crypto.news

After a quick correction, SHIB gained upward momentum again, rising 12% over the past day. The asset is currently changing hands for $0.000025 with a market cap of $14.7 billion.

Dogwifhat dogwifhatWIF22.57%dogwifhat also saw a 20% rise in the last 24 hours and is trading at $3 at the reporting time. Its market cap is sitting at $3 billion, making it the fourth-largest meme coin.

Goatseus Maximus Goatseus MaximusGOAT2.11%Goatseus Maximus, one of the youngest meme coins in the market, registered a 20% rally on Sunday as its market cap approached the $1 billion mark. However, the meme coin soon witnessed a price correction before hitting the milestone.

Despite the downfall, GOAT is still up 3.3% in the past 24 hours and is trading at $0.814 at the time of writing. Its market cap is hovering at $814 million with a daily trading volume of over $300 million.