Meme Coins Skyrocket, SHIB Forms a 'W” Shape Pump, NEIRO Market Cap Hits $800 Million

Meme coins in the digital asset space have skyrocketed in the past 24 hours with the biggest gainers being Shiba Inu (SHIB), Popcat (POPCAT), dogwifhat (WIF), and First Neiro on Ethereum (NEIRO).

Meme coins in the digital asset space soared on Friday, with SHIB, POPCAT, WIF, and NEIRO posting significant gains. Notably, meme coins surged by 7.9% over the past 24 hours, reaching a market capitalization of $55 billion.

According to CoinMarketCap, meme coins achieved a market capitalization of a massive $55 billion, surging 7.9% in the past 24 hours. Meanwhile, the total volume traded in the sector stands at $10.2 billion. On the other hand, the total valuation of the crypto space also surged to $2.19 trillion.

Related: Meme Coin Madness: DOGE, SHIB, PEPE, BONK, and WIF Battle for Supremacy

Shiba Inu (SHIB) soared by 5.45% over the past 24 hours, surging to $0.00001786. Moreover, SHIB is trading within a crucial technical pattern that could propel the meme coin to prices above $0.00002. Notably, SHIB Knight, a popular SHIB influencer, highlighted the technical formation on Friday.

As highlighted by SHIB KNIGHT in a X (formerly Twitter) post on Friday, SHIB is forming a “W” shape pump. To explain, the price action first dropped from a high of $0.00002169 to a low of $0.00001548 and then surged to $0.00001885. Once again, the price dropped to $0.00001605.

With the price increase in the past 24 hours, if SHIB makes a move above $0.00002, the W pattern will be complete. Good Morning Friends ☕️☀️

While altcoins are rising slowly, memecoins are pumping hard

?$SHIB is forming a W shape pump.

$NEIRO pumped to $800M MC, 1 Billion is loading. pic.twitter.com/fHGgnS4oDa

Other Major Meme Coins soared on Friday

Other dominant meme coins including PEPE, POPCAT, WIF, and NEIRO also soared on Friday, surging by 5.5%, 7.9%, and 35.2% in the past 24 hours, respectively. Notably, NEIRO's market cap stands at $891 million while the digital currency's trading volume is well above $1 billion. At the time of writing, NEIRO is trading at $0.002109 after a 105.2% surge in the past week.

POPCAT is trading at $1.42 while WIF and PEPE stand at $2.71 and $0.059837, respectively. It is important to note that SPX6900 (SPX) soared by 60% and is trading at $0.8267.

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