SHIB, WIF, GOAT capitalize on DOGE rally to 3-year highs

As the crypto market posts consecutive gains, Meme Coins are posting impressive gains as Dogecoin continues to lead the way.

According to data provided by CoinGecko, the total meme coin market value increased by 18% in the last 24 hours, exceeding $94 billion. The increase in the daily transaction volume of the sector to 51 billion dollars shows that the interest of investors is high.

The meme coin rally started last week when Republican candidate Donald Trump won the US presidential election.

Dogecoin (DOGE) leads the category with a market cap of $41 billion, making it the sixth largest digital asset; DOGE outperformed XRP (XRP) and USD Coin (USDC) last week.

DOGE was also the top gainer with a 24% increase in the last 24 hours. The leading meme coin is trading at $0.28 at the time of writing.

DOGE price | Source: crypto.news

Moreover, Dogecoin broke its three-year high of $0.301 earlier today.

SHIB, WIF, GOAT benefit

Dogecoin’s rise has brought positive sentiment to other meme coins as well.

Shiba Inu (SHIB) skyrocketed 40% after its lead developer Shytoshi Kusama proposed establishing a strategic crypto hub in the United States on Sunday, November 10. The second-largest meme hit a five-month high of $0.0000278 following the announcement.

SHIB price | Source: crypto.news

After a quick correction, SHIB regained upward momentum, rising 12% in the past day. The asset is currently changing hands for $0.000025, with a market cap of $14.7 billion.

Dogwifhat (WIF) also saw a 20% increase in the last 24 hours and is trading at $3 at the time of reporting. Its market cap stands at $3 billion, making it the fourth largest meme coin.

WIF price | Source: crypto.news

Goatseus Maximus (GOAT), one of the youngest meme coins on the market, surged 20% on Sunday and its market cap approached $1 billion. However, the meme coin soon witnessed a price correction before reaching the milestone.

GOAT price | Source: crypto.news

Despite the decline, GOAT is still up 3.3% in the last 24 hours and is trading at $0.814 at the time of writing. Its market capitalization stands at $814 million and its daily trading volume is over $300 million.