Elon Musk's Surprising Twitter Follow, Slim Jim's Meaty Adventure, Dogecoin's Legal Drama, Floki's Surge, And Pepe Coin's Leap: Meme Coins' Week In Review
Portfolio Pulse from Benzinga Newsbot
This week in meme coins saw Elon Musk following Ethereum co-founder Vitalik Buterin on Twitter, Slim Jim entering the metaverse, legal changes in a Dogecoin lawsuit, and surges in Floki and Pepe Coin. Top meme coins' performance varied, with Dogecoin up 8.28%, Shiba Inu up 14.90%, Pepe up 61.98%, Floki up 19.47%, and Bone ShibaSwap up 13.71%.
June 24, 2023 | 11:06 am
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NEUTRAL IMPACT
Elon Musk followed Ethereum co-founder Vitalik Buterin on Twitter, sparking speculation about potential collaboration and its impact on Dogecoin. Dogecoin's price increased by 8.28% this week.
While Elon Musk's Twitter activity has previously influenced Dogecoin's price, it is unclear if this new connection will have any direct impact on the cryptocurrency. The 8.28% increase in price this week could be attributed to various factors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Shiba Inu's price increased by 14.90% this week, despite being outperformed by other meme coins like Floki and Pepe Coin.
Shiba Inu's price increase could be attributed to various factors in the crypto market. The fact that it was outperformed by other meme coins does not necessarily indicate a negative impact on its price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Floki's price increased by 19.47% this week, outperforming top meme coins like Dogecoin and Shiba Inu, possibly due to a strong bounce back in the cryptocurrency market.
Floki's price increase could be attributed to a strong bounce back in the cryptocurrency market, largely driven by Bitcoin, as well as new exchange listings and partnerships.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Pepe Coin's price surged 61.98% this week, outperforming Dogecoin and Shiba Inu, possibly due to positive developments in the crypto market.
Pepe Coin's significant price increase could be attributed to positive developments in the crypto market, such as major institutional buy-ins and the launch of a new crypto exchange.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60