Memecoin market capitalization has increased by more than 9% in the past 24 hours, significantly outperforming the rest of the cryptocurrency market, which has seen a slight decline of more than 0.2% over the same period.
CoinGecko The top five memecoins by market capitalization in the memecoin market capitalization category account for approximately 35% of the total memecoin market cap of $66 billion.
Among the top 5 memecoins, dogwifhat reached an all-time high in the most impressive rally of the last 24 hours. According to The Block’s pricing page, the coin is trading at $3.18, up more than 42% in the last 24 hours.
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+42.37%
Memecoin has led a rally over the past 24 hours, with the price hitting an all-time high. Image: Block.
Elon Musk hints at Tesla Dogecoin payments
The rally in the Memecoin subsector came after Elon Musk discussed the possibility of customers purchasing Tesla cars with Dogecoin in a video posted on X.com..
“When can I buy a Tesla with Dogecoin? I think we’ll have to enable it at some point,” Musk said. video Uploaded by X user @dogeofficialceo. The Tesla CEO said the following during a recent visit to the company’s Giga Factor in Berlin: “whyYou can purchase Tesla products through Doge, which is great. So Dogecoin has reached the moon,” he added.
Another boost in memecoin market activity comes after news that the Solana-based Dogwifhat mascot (a Shiba Inu in a top hat) could grace the Las Vegas skyline after successfully raising $650,000 from the community. The Dogwifhat logo can now appear in full LED form in the Las Vegas Sphere for a week.
According to the fundraiser’s webpage, requests for community donations exceeded the fundraising goal, reaching $672,288.156 in USD Coin (USDC).
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