Leading
meme coins
have surged by up to 110% during the past week due to the escalating trade tensions between the U.S. and China
recently eased
.
A meme coin serves as a satire of a major cryptocurrency like
Bitcoin
It is named this way because it acknowledges memes that become wildly popular online.
The
Solana
—a meme coin called dogwifhat — saw a surge of 120% in the past week and was priced at $1.15 when this report was filed.
Dogecoin, the trailblazing meme coin that caught the eye of industry giants such as Elon Musk, surged by 40% and was trading at $0.2389.
The Shiba Inu, yet another popular dog-themed meme coin, saw an increase of 30% and was being traded at $0.00001631.
Pepe has surged by up to 85% within a single week and was trading at $0.00001465.
Officially launched by President Trump,
Donald Trump
Prior to his inauguration, it has increased by 23%. At the time of writing, TRUMP was trading at $13.46.
In the meantime, Bonk has surged over 40%, trading at $0.00002321 as of press time. Similarly, Floki has seen an increase of 55%, currently priced at $0.0001182 when last reported.
Currently, the overall market capitalization of meme coins is around $80 billion.
At the same time, the total market capitalization of the entire cryptocurrency sector was valued at $3.5 trillion.
Bitcoin
—that Dogecoin parody—was trading at $104,284 when this was written, showing an increase of 10% over the past week.
The price fluctuation mirrors the overall upward trend in the cryptocurrency market seen recently, coinciding with tariff negotiations between China and the U.S. over the past weekend.
On May 12, the U.S.
lowered tariffs
On Chinese imports from 145% to 30% for a 90-day period. Conversely, China decreased tariffs on U.S. imports from 125% to 10%.