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Can't understand what L1 is? Newcomers favor meme coins, $TRUMP rose eight times in a month

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Meme Coins Surge in Value

According to CoinGecko data, meme coins such as DOGE, BONK, PEPE, SHIB have surged by 14%, 28%, 31%, and 19% respectively in the past 24 hours, outperforming major cryptocurrencies BTC at 2.81% and ETH at 4.8%.

Additionally, meme coins in the Shiba Inu category like DOGE, SHIB, FLOKI, BONK, WIF have all seen doubling in value over the past seven days, with SHIB and PEPE seeing over triple-digit gains.

A Meme Coin Rally! Both New and Old Generation Meme Coins Soar, FLOKI/SHIB Lead the Sharp Increase in a Single Day

Fueled by strong performance, meme coins have entered the top 100 market values:

  • Rank 10: Dogecoin

  • 12: Shiba Inu

  • 42: Pepe

  • 51: Bonk

  • 69: Dogwifhat

  • 76: Floki

  • 83: Apecoin

Trump Coin Surges 8-Fold in a Month

CoinMarketCap data shows that Trump coin MAGA TRUMP has surged by as much as 765% since February 5th, currently correcting to $9.2, still showing a 639% increase.

This is one of the meme coins continually promoted by venture capital firm Mechanism's co-founder Andrew Kang, who firmly believes that the end-of-year presidential election will lead TRUMP to another peak, and Mechanism has already built positions in meme coins led by TRUMP.

Meme Coins Surge, PEPE Triples in a Month, Andrew Kang Emphasizes DOGE Still Undervalued

TRUMP/USDT Daily Chart

Novice Investors Unaware of L1

Andrew Kang has been emphasizing the meme coins' ability to rise in this bull market, pointing out that investors who have profited from NVIDIA in the past will need a new target after taking profits.

The crypto community @ChenWainuo also agrees, stating:

Indeed, all my friends who have invested in NVIDIA and are semi-retired have only been discussing DOGE, PEPE, and SHIB in the past week. They don't want to touch anything else because they don't understand what L1 is, let alone L3 or any of the hottest discussions on Crypto Twitter.

Su Zhu Also Bullish on Meme Coins

Finally, here is the investment portfolio claimed by Su Zhu, co-founder of Three Arrows Capital 3AC.

Meme coins like Trump and Shiba Inu are also part of his investment portfolio.