Memecoin's market capitalization increased by more than 9% in the past 24 hours, significantly outperforming other crypto markets that recorded a slight decline of more than 0.2% during the same period.
The top five meme coins by market cap in the CoinGecko meme coin market cap category account for approximately 35% of the meme coin market cap of over $66 billion.
Of the top 5 meme coins, dogwifhat recorded the most impressive rise in the past 24 hours, reaching an all-time high. According to The Block's price page, the coin is up more than 42% in the past 24 hours, trading at $3.18.
Dogwifhat price hit an all-time high, leading the meme coin's rise over the past 24 hours. Image: The Block.
Elon Musk hints at Tesla Dogecoin payments
The rise in the memecoin subsector came after a video posted on X.com showed Elon Musk discussing the possibility of customers buying Tesla cars with Dogecoin..
“When will you be able to buy a Tesla with Dogecoin? I think it should be possible at some point,” Musk said in the paper. video X Uploaded by user @dogeofficialceo. Tesla's CEO made the comments during a recent visit to the company's Gigafactor in Berlin. “HiYou can buy Tesla goods at Doge. This is great. So let’s send Dogecoin to the moon,” he added.
Meme coin market activity following news that Solana-based Dogwifat mascot (a Shiba Inu wearing a hat) has successfully raised $650,000 from the community and could grace the Las Vegas skyline has further accelerated. Dogwifhat's logo will now be displayed in full LED on the Las Vegas Sphere for one week.
According to the fundraising organization's webpage, the call for community donations exceeded its fundraising goal, reaching $672,288.156 in USD Coin (USDC).
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