Book of Meme jumps 18% as MOG, MEW, FLOKI, and WIF spike

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Written on Oct 18, 2024

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Book of Meme led other meme coins among top 100 coins by market cap with 18% in 24-hour gains.
Surging meme coins as investor interes returned saw gains for MOG, FLOKI and MEW among others.
Meme coins were at the core of TRON's revenue, TVL and DEX volume in Q3, 2024 according to Messari.

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Book of Meme surged in the past 24 hours as meme coins led the crypto market rally on Oct. 18.

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Following Bitcoin’s (BTC) impressive rise above $68k, meme coins have taken the spotlight.

Dogecoin (DOGE) jumped 10%, reaching an 11-week high, while other dog-themed tokens like Brett, Bonk, and Popcat also saw significant gains.

According to DEGEN NEWS on X, seven of the top 10 gainers among the top 100 coins by market cap during early US trading on Friday were meme coins.

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NEW: THE 7 BIGGEST 24H GAINERS AMONG THE TOP 100 TOKENS BY MARKET CAP ARE ALL MEMECOINS

1:56 pm · 18 Oct 2024

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BOME jumps 18%

Per CoinMarketCap data at the time of writing, the top three tokens in terms of 24-hour gains among the top 100 by market cap are Book of Meme (BOME), Mog Con (MOG), and cat in a dogs world (MEW). Floki (FLOKI) and dogwifhat (WIF) were also among the top gainers.

For Book of Meme, the upside also saw a surge in trading volume, with traders doing over $337 million for a 26% spike over the same period.

While this decent increase suggested bulls are aggressive, BOME was trading at levels last seen on Oct. 15 as prices dipped from above $0.011 amid increased volatility.

The Solana-based meme coin is up more than 55% in the past week and over 986% in the past year.

MOG, MEW, FLOKI, and WIF tokens gain

Other meme coins also surged as analysts forecast a strengthening of the meme narrative in the expected bull cycle.

MOG and MEW each registered an upside movement that beat top altcoins. For instance, Mog Coin’s price changed hands around 11% higher, and cat in dogs world traded 9% up.

FLOKI and WIF also recorded an increase in both price and daily volume, with a 19% and 14% jump respectively.

TRON ecosystem benefited from meme coin surge

The top 100 market cap meme coin gainers are largely on Ethereum and Solana.

However, a recent report from crypto platform Messari highlights how meme coins played a crucial role in TRON (TRX) price gains in the last quarter.

SunPump, TRON’s new meme coin launch platform is what ignited this growth, Messari posted on X. This growth was reflected in decentralized finance (DeFi) metrics for TRON, including a surge in Q3 revenue by 29% to a new all-time high.

Tron-based meme coins such as Sundog (SUNDOG) are lagging.

But on-chain metrics show that in the last quarter, they led TRON’s decentralized exchange (DEX) volume to a 150% increase in QoQ.

The platform’s total value locked reached $8.09 billion with a 4% spike.