New entrants making the noise
As meme coins continue to rally, Solana (SOL) -based meme coins are having their own spectacular run. Over the past 90 days, Solana-based meme coin dogwifhat (WIF) has soared by over 134%, now trading at $3.39.
But that’s just the beginning. A new player, Book of Meme (BOME), has rocketed into the top 100 cryptos, with a jaw-dropping gain of over 1,385% in the last 90 days, currently trading at $0.01354.
https://crypto.news/is-the-meme-coin-market-cap-surge-a-sign-of-bigger-things-to-come/What can you say about this news?
in my own opinion it's tough to say whether the increase in meme coin market capitalization is a hint of bigger things to come. The meme currency market is known for its volatility and speculation, so the spike could be a one-time occurrence. However, other investors believe meme coins have long-term potential as a digital money or a way to interact with online communities. Finally, only time will tell if meme currencies' value and relevance in the cryptocurrency market continue to climb.
You are right that crypto market of meme coins is unpredictable and highly volatile, how the capitalization of meme coins has increased significantly which seems to be driven by speculative behavior of market participants. This is also surprising that some investors see long term potential in meme coins, as means to engage with communities. Despite all this potential , it is wise to proceed with caution and keep an eye of market trends and developments.