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- While the major meme coins like DOGE and SHIB have slowed down over the past week, the smaller cap coins like PEPE, WIF and BONK have continued to surge and set new all-time highs.
- PEPE and BONK hit new record highs today, with the former bursting into the top 30 coins, but it’s WIF that has grabbed the headlines with a 33% surge in the past 24 hours.
It has been the meme coin bull market, with market leader Dogecoin gaining 130% in the past month, as Crypto News Flash reported. Its main rival, Ethereum-based Shiba Inu, surged by over 250% in that time. However, while the major cap meme coins have slowed down recently, the smaller tokens have continued to surge and look poised to keep making gains.
The total meme coin market cap now stands at $65.7 billion, gaining 7% in the past day, while trading volume shot up 40% to hit $12.75 billion.
PEPE has been one of the star performers. In the past 15 days, the token has shot up over 800%, setting a new all-time high today at $0.0000108 for a $4.46 billion market cap, the third-highest in the meme coin world. The gains have continued for PEPE even after DOGE and SHIB slowed down, with the meme coin surging 50% over the past week and 14% in the past day.
The unprecedented gains have pushed PEPE to the top 30, flipping mainstay projects like Ethereum Layer 2 scaling solutions Optimism, Stellar and Stacks, the Bitcoin Layer 2 scaling solution.
A trader bought 600B $PEPE($1.04M) from #Binance at a high price last year.
After 10 months of patient holding, $PEPE has experienced a surge!
He deposited 200B $PEPE($1.48M) to #Binance for profits, with 400B $PEPE($2.91M) left.
His total profit on $PEPE is ~$3.35M. pic.twitter.com/cUzWDRkcOb
— Lookonchain (@lookonchain) March 4, 2024
Solana-based BONK has continued to surge, and at press time, it changes hands for $0.00003428. In the past day, it has surged 12.77% for a market cap of $826 million. BONK was among the coins that surged as part of the broader Bitcoin-inspired rally a month ago, and since then, it has gained 165%.
FLOKI and WIF Star in Meme Coin Rally
The two biggest stars in the meme coin rally have been dogwifhat (WIF) and FLOKI. The former is the biggest gainer in the top 100 coins in the past day, accumulating 36% in that time to trade at $3.16 at press time. In the past week, it has gained 67% for a market cap of $3.157 billion to sneak into the top 50 coins.
While WIF’s appeal was that it was the ‘meme-est’ of the meme coins, it’s now become one of the major players and is only bettered by PEPE, SHIB, and DOGE. Its community is also growing quickly, and recently, it raised enough money to advertise in Vegas.
A recent fundraising effort raised $690,000 worth of USDC in four days in donations from community members, exceeding the $650,000 target. The plan is to have the project’s logo, a dog with a pink hat, on the famous Sphere in Las Vegas.
iight bros, it's time, we're putting dogwifhat on the vegas sphere 🫨 https://t.co/lVm0Hjog8o pic.twitter.com/vK4LlXYs8G
— Ansem 🐂🀄️ (@blknoiz06) March 10, 2024
FLOKI, on the other hand, has outperformed all its peers in the past week, surging by 114% to hit $2.859 billion in market cap to also sneak into the top 50.
