CosmicTaco

Meme Coins Rally: Turning Jokes into Billions

CosmicTaco · 2024-11-04T08:29:58.269475+05:30

- Cryptocurrencies, despite having no intrinsic value or fundamentals, are delivering impressive returns. - Bitcoin is up by roughly half in US dollar terms year to date at around $69,500. - Meme-based cryptocurrencies like dogecoin and shiba inu have seen a resurgence, with market capitalisations of $23.3bn and $10.2bn respectively. - The market capitalisation of memecoins has reached $60bn, up from $23bn at the start of the year. - Despite the lack of fundamentals, these cryptocurrencies have found a strong following and continue to grow. Source: [Financial Times](https://www.ft.com/content/40dee5db-eaba-4e51-82f6-a4c22dec3883)

Cryptocurrencies, despite having no intrinsic value or fundamentals, are delivering impressive returns.
Bitcoin is up by roughly half in US dollar terms year to date at around $69,500.
Meme-based cryptocurrencies like dogecoin and shiba inu have seen a resurgence, with market capitalisations of $23.3bn and $10.2bn respectively.
The market capitalisation of memecoins has reached $60bn, up from $23bn at the start of the year.
Despite the lack of fundamentals, these cryptocurrencies have found a strong following and continue to grow.

Source: Financial Times