Key Points
- CZ expects memecoins like DOGE to remain strong because of their “staying power”.
- The memecoin sector surged by 1.5%, with some coins seeing significant gains.
Today, the memecoin sector recorded an ascendant trajectory and it’s up by 1.5%. This recent surge comes following a drop in the crypto market triggered by multiple factors recently,
Yesterday, Trust Wallet shared a video on their X account in which Binance’s CZ expresses his opinion about the memecoin landscape.
Memecoin Sector Surges
Today, the memecoin sector is up by 1.5%, surpassing $63,3 billion, while the 24-hour trading volume is currently above $9,1 billion, according to CoinGecko data.
PAIN memecoin is trending and today it’s up by 30%. DOGWIFHAT is also trending with a surge of over 6% in the past 24 hours.
DOGEai is among the top gainers with a surge of over 131% today, and YOUR OUTIE is up by almost 169%.
PEPE recorded a price surge of over 9%, while SHIB is up by almost 7% today. PENGU also recorded a remarkable price surge of over 19% in the past 24 hours, according to CoinGecko data.
The recent surge in the memecoin sector comes after CZ addressed the ecosystem, showing support in a recent video.
CZ Explains the Memecoin Trend
Trust Wallet shared a part of an interview with Binance’s CZ via X in which he addresses various subjects including the memecoin landscape.
He said that while the ecosystem has been recently seeing a cooling down, the trend could still shift with some memecoins like DOGE remaining strong in the crypto space due to “staying power.” He also mentioned Elon Musk’s support for DOGE.
CZ said that he potentially sees a sentiment shift in the memecoin space and he’s now a passive supporter of the community, supporting more sectors in the industry.
Recently, CZ was in the spotlight in relation to the BNB Chain and multiple memecoins launched via four.meme and other platforms. TST was a memecoin that stood out, followed by BROCCOLI coins inspired by CZ’s doge.
Earlier this month, he released the name and photo of his dog, allowing the creation of memecoins on the BNB Chain which led to huge activity and a successful stress test for the chain.
