According to CryptoPotato, meme coins have experienced significant gains in the past 24 hours, with Shiba Inu (SHIB) and Dogwifhat (WIF) outperforming others. The market is generally recovering, but these meme coins are showing particularly strong performance. Shiba Inu has seen a 13% increase in the past day, trading just below $0.0003, although it remains down 10% on the weekly chart due to recent volatility. In comparison, Dogecoin (DOGE) has only increased by 5.7% in the past 24 hours.
The Solana-based meme coin Dogwifhat has emerged as the top performer in the meme coin market, with a 30% increase in the past day, currently trading at around $3. This surge coincided with a photo posted by Elon Musk on Twitter, featuring his dog and a couple of others celebrating its birthday and wearing a hat. Despite no obvious connection between the photo and the meme, the market responded positively to the tweet.
