Meme Coin Market Goes Ballistic With 21% Pump As Coin Supercycle Debate Intensifies

The meme coin market has gone crazy like a hype around a coin the supercycle intensifies.

The light sector of the crypto industry has seen its market capitalization increase of more than 21% in the last 24 hours.

Smaller-cap tokens led the charge, with Act I The AI ​​Prophecy (ACT) the best performer after its price soared over 248%. Fartcoin (FARTCOIN) and Goatseus Maximus (GOAT) are in second and third place, respectively, having posted 24-hour gains of 73% and 35%.

Popcat Posts Best Performance as Meme Coin Leaders Lag Ahead of Meme Coin Supercycle

Solana Popcat Token (POPCAT) outperformed the rest of the 10 largest coins even by market capitalization. Data from CoinGecko shows the crypto’s price climbed 18% to trade at $1.63 as of 2:45 a.m. EST.

#CMCNews: Popcat (POPCAT) continued its surge, up 11% in the last 24 hours, to overtake the leading memecoin, Dogecoin (DOGE).

– CoinMarketCap (@CoinMarketCap) October 23, 2024

POPCAT’s strong performance comes as nearly all of the 10 largest coins by market cap suffered 24-hour losses, with leaders Dogecoin (DOGE) and Shiba Inu (SHIB) both posting smaller, minor 24-hour losses at 1%.

Only Dogwifhat (WIF), Pepe (PEPE) and Bonk (BONK) recorded gains. After POPCAT’s 18% increase, the next best result was WIF with a 4% increase.

Is a Meme Coin supercycle underway?

The market’s rise over the past 24 hours comes amid much debate over whether a coin supercycle is underway. Discussions about the possibility intensified after investor and influencer Murad Mahmudov spoke on the topic at Token2049 in Singapore.

He claims that a coin supercycle, fueled by social media hype and viral trends, is now underway and will lead to a prolonged period of explosive growth.

Meme Coins are certainly outperforming the broader crypto market at present. While meme coins have risen over the past day, the rest of the crypto market has undergone a slight correction.

Over the past 24 hours, the overall valuation of the digital asset space has fallen by more than 1%. Despite this decline, the market capitalization remains above $2,410 billion.

While Bitcoin (BTC) saw a marginal gain, altcoin leader Ethereum (ETH) slipped more than 2%. Almost all cryptos in the top 10 followed ETH’s lead and also suffered losses. Only Solana (SOL) and Binance Coin (BNB) saw 24-hour gains, with the former’s price increasing by more than 4%.

Best way to play Meme Coin supercycle

As investors position themselves to capitalize on a potential coin supercycle, some are turning to presales to find the next crypto to explode.

One of the current favorites is Pepe Unchained (PEPU)which has just surpassed $22 million in funds raised in one of the most successful ICOs of the year.

Another ICO that is attracting a lot of attention is Crypto Stars (STARS)an innovative new project that is the first to allow investors to stake multiple top coins on a single platform. More than $2.6 million has already been raised.

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