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After a dramatic fall during the first two days of the week, Cryptocurrency prices are recovering rapidly. In the particular case of memecoins, they rise with notable strength this Wednesday. All of the meme tokens that make up the top 10 in market capitalization display green numbers, according to CoinMarketCap.
The capitalization of the sector in general terms reaches $123 billion dollars at 15:38 GMT this Wednesday. The price recovery during this day was related to Bitcoin’s reaction to inflation data in the United States. The Department of Labor revealed that the year-on-year consumer price index was 2.7%.
This means the Federal Reserve will almost certainly deliver another rate cut in December. The result of this was soon reflected in the so-called memecoins. Some of these tokens like BRETT, POPCAT, PNUT, and SHIB break double digits in 24 hours. In total, 7 of the top 10 meme coins in market cap had +10% or more in 24 hours.
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In the case of the queen of the sector, DOGE, it shows a growth of +8.97% and its capitalization once again reaches $61 billion dollars.
The capitalization of memecoins continues to clearly recover. Source: CoinMarketCap
Memecoins regain space compared to other sectors
Now that memecoins are rising with great force, their role as performance leaders in the crypto world reappears. So far this year they maintain a strong lead over rival tokens such as AI and gaming. Meanwhile, so far in December they still show lower numbers, but the distance is much shorter.
Beyond the top 10, meme coins become much wilder territory in terms of risk. However, it is where the greatest increases are also evident. For example, TURBO coin (#12) shows a weekly performance of over 51% and FARTCOIN exceeds +60%.
Within the sector of coins not yet included in CoinMarketCap, the matter is much more acute. Among these meme tokens, returns are usually counted even in four digits percentage-wise. With these elements in perspective, it can be said that the meme sector seems to once again occupy a significant position among investors’ preferences.
Expectations remain, especially in currencies like DOGE, which has enormous popularity among young investors in the US. With the prominence given to it again by magnate Elon Musk, this token could reach a capitalization of $100 billion in 2025.
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