As the total cryptocurrency market capitalization dropped by 2.7% today, falling below 4 trillion dollars (approximately 5,560 trillion won), the meme coin sector stood out with a notable rebound. This is an unusual phenomenon amid most cryptocurrencies experiencing adjustments, interpreted as a signal that investor interest is shifting back to community-driven coins.
The most prominent coins today were SPX6900 (SPX) and Fuzzy Penguin (PENGU). The Non-Fungible Token-based Fuzzy Penguin surged approximately 14.3% in the past 24 hours, reaching $0.04342 (about 60 won). Its weekly growth rate approached 40%. SPX broke through the $2 (about 2,780 won) mark with an 11.7% increase. These were the only coins with double-digit returns among the top 100 cryptocurrencies by market capitalization.
Unlike BTC and ETH showing weakness, major meme coins like Doge and SHIB also saw a slight rebound, adding strength to the overall meme coin sector's upward trend. Doge rose 2.2% today to $0.24 (about 334 won), while SHIB increased 2.7% to $0.00001405 (about 0.0195 won).
Additionally, Ethereum and SOL-based meme coins such as FLOKI, Pepe, and BONK continued their upward momentum today. BONK rose 3.4% to $0.0003544 (about 0.49 won), while PEPE increased 2.3% to $0.00001262 (about 0.0175 won).
The Solana-based meme coin Dogwifhat (WIF), which showed strong performance earlier this year, also showed signs of rebounding. WIF rose 1.6% to $1.07 (about 1,486 won) and is on the verge of re-entering the top 100 market capitalization.
In contrast, some small and medium-sized meme coins failed to avoid poor performance. Meme Core (M) dropped 7% in a day, and Build On (B) recorded a 5.5% loss, demonstrating continued volatility within the meme coin sector.
According to market data service CoinGecko, the meme coin category increased by 3.2% in a day, which was recorded as one of the top-performing sectors despite the overall market decline. Investors are showing a clear tendency to seek short-term swing opportunities by moving towards meme coins with a 'risk-taking' approach amid the adjustment period.
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