According to a tweet from the KuCoin exchange, the crypto world should expect Dogecoin (DOGE), Shiba Inu (SHIB), and Dogelon Mars (ELON) to the moon again before October ends. Seemingly, with no doubt, this moves in line with the stunning performance of altcoins nowadays.
In fact, it is obvious that most of the news orchestrated these days are mostly crypto-related. However, this makes sense to how altcoins and other heavyweight cryptos prices are showing green in the crypto market.
Also, along with the positive sentiment growing around cryptocurrency, meme coins have also given out their best. More especially, DOGE, SHIB, and also with ELON following the dog family. On top of this, KuCoin gave some of the crucial factors that support meme coins growth.
This time, the exchange emphasized that meme coins’ growth and performance are tied to how influencers like Elon Musk and other investors promote such coins via jokes, internet memes, and sometimes the kind of images they share on social media.
More so, another key factor is how they come with a cheap price in terms of purchasing. Citing from the report, meme coins occupy nearly about 2.8% of the crypto market while its sector also holds a threshold value of $38 billion.