In the ever-evolving world of cryptocurrencies, trends can shift in a matter of hours. In this line, staying updated with the latest market movements is crucial.
According to the data retrieved by Finbold, the top three trending cryptocurrencies on May 15 are Pepe (PEPE), Doge CEO (DOGECEO), and Homer (SIMPSON). The findings are based on CoinMarketCap’s trending cryptocurrencies list, which reveals digital assets that people are most actively searching for on the platform.
Interestingly, the list is dominated by meme coins. While meme coins do happen to dominate the list, it’s important to note that this may not be entirely coincidental. In recent months, meme-inspired cryptocurrencies, or meme coins, have gained significant attention and popularity among crypto investors and enthusiasts.
Just like Dogecoin (DOGE) and Shiba Inu (SHIB) back in the day, there are several new cryptocurrencies built on the premise of humor and entertainment, often with little to no actual use case or utility.
Despite this, they offer investors an opportunity for quick profits and have caused a surge in demand, leading to a spike in their market capitalization.
PEPE price analysis
Although its price has dropped significantly in recent days, PEPE has been taking the crypto community by storm. This meme coin, inspired by the internet meme Pepe the Frog, saw its price skyrocket by 5,000,000% a few weeks ago. On May 5, the day it was listed on Binance, PEPE hit its all-time high of $0.00000431.
But since then, the cryptocurrency lost a notable percentage of its value, probably due to an investor sell-off aimed at taking profits. At press time, PEPE was trading at $0.000001666, down 6.7% in the past 24 hours, and 27% since last week.
Still, thanks to its meteoric rise, it remains the third-biggest meme coin in the world, with a market cap of $652.6 million
DOGECEO price analysis
More recently, DOGECEO, which many refer to as a “Dogecoin clone” or “Dogecoin copycat,” saw an outstanding price surge in recent days. Built on BNB smart chain, DOGECEO has also lured the attention of many investors looking for the next big hit among meme-inspired cryptocurrencies.
At the time of the writing, DOGECEO was changing hands at $0.000000000013, up 94% on the day. Over the past week, the cryptocurrency soared by almost 390%.
SIMPSON price analysis
Finally, number three on this list is Homer (SIMPSON), the meme coin that registered the highest price surge in the past few days.
Described as the first-ever “DOH coin,” this cryptocurrency was inspired by the legendary Simpsons character, Homer Simpson. Just like most meme coins, SIMPSON’s developers said the coin has no roadmap or a specific use case. However, that hasn’t stopped its price from surging since its launch.
In the past 7 days, the “DOH coin” saw a mouthwatering price jump of 10387.01%. On the day, SIMPSON fell around 44%, trading at $0.000000000024 at press time.
Did you know? Crypto companies raised $2.6 billion in VC funding in Q1 2023
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.