The crypto market has shown a positive swing in sentiments with upward price movements across Bitcoin (BTC), altcoins, and meme coins. As expected, several meme coins have soared above the wider market, clinching triple-digit gains at the start of the year. Digital asset analysts tip the overall trend to continue following macro factors, although corrections will be recorded in multiple assets. At press time, the total crypto market cap stands at $3.5 trillion, a 2.5% growth in the last 24 hours. The total meme coin figure is up 14% in the same period as it soared to over $127 billion. While bulls continue to push trading activities, bear traders warn of sharp volatility in January. Top Meme Coins Gainers According to data from CoinGecko, these assets are leading meme coin charts on the heels of massive community participation. Nexus Erebus (NXR) leads the pack with a 503% gain today to trade at 0.001682. The asset’s growth pattern can be seen across multiple timeframes, showing resilience despite periods of price corrections. Last week, NXR picked up a strong performance, posting 1292.5% and making a recovery from 307% gains in the last 30 days. The asset’s market cap is above $1.6 million, with low figures driving new users. Traditionally, crypto traders prefer early positions in meme coins to get an edge. MLG follows with a 269% inflow surge in inflows today. The meme coin exchanges hands at $0.009225, taking its market capitalization above $8.8 million. MLG recorded 196% gains this week alongside a similar monthly number. Reasons for the asset’s growth ranged from community participation to high volumes. Trumpius Maximus (TRUMPIUS) has picked up a 215% increase today to trade at $0.2685. Like other fast-rising meme coins, the asset posted huge wins in the short-term window. Is a Meme Coin Frenzy On The Cards? Several crypto users have projected a meme coin frenzy this year, citing a string of market-moving factors. Meme coins are known to jump in line with wider market trends, leading to a close monitoring of altcoin fundamentals. Last year, the market notched two meme coin rallies after Bitcoin soared to new all-time highs. The first came following the approval of spot Bitcoin ETFs, while the second was recorded after the U.S. Presidential elections. Days after Donald Trump’s inauguration, crypto traders have repositioned holdings. Recently, meme coin bulls have also made large asset purchases, swinging sentiments upwards.
