After the halving on the Bitcoin network, which took place on April 20, meme tokens again began to be in great demand.
Instead of investing in Bitcoin, many traders chose to invest in meme-based cryptocurrencies, so their total value increased by 11% over the past 24 hours to reach $54.7 billion. Among these coins, Bonk (BONK) turned out to be the leader in the rate of appreciation, having risen in price by 42% over the past 24 hours. The second place was taken by Popcat (POPCAT), which increased in price by 35%, and the top three was closed by MOG Coin (MOG), whose rate soared by 24%.
Top 5 meme tokens by rate growth rate
The leading meme-based cryptocurrencies in terms of capitalization, Dogecoin (DOGE), Shiba Inu (SHIB) and Dogwifhat (WIF), also rose in price, but not so much. The SHIB rate increased by 26%, WIF — by 10%, and DOGE — by 5%. It is noteworthy that, even despite DOGE Day, which coincided with Hemp Day, which was celebrated on April 20, the king of meme tokens failed to attract a large amount of investment.
Bonk's incredible popularity can be partly attributed to the Crypto Fight Night 4 tournament taking place in Dubai on April 19. The startup BONK sponsored this competition and advertised the cryptocurrency brand during the competition.
Bonk advertisement at the Crypto Fight Night 4 tournament