Meme Coin Market Capitalization Rises 29% in July

Since the beginning of July, the value of meme coins has increased by nearly $17 billion, reaching $72 billion as of Thursday — a 29% increase from the $55 billion market capitalization on June 30.

According to CoinMarketCap data, meme coin trading volume in July was higher than in the previous month. On Thursday, daily trading volume in the sector peaked at over $18 billion. The second-highest 30-day trading volume was $17.09 billion on Saturday.

Many leading meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), have shown significant growth over the past seven days. However, the largest weekly gains came from Floki (FLOKI), up 45%, Pudgy Penguins (PENGU), up 58%, and Bonk (BONK), which surged by 72%.

See also: "XRP Price Hits New Record High Driven by Influx of New Investors"

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