Can Memecoins such as PEPE, WIF, and BONK Break New All-Time Highs and Emerge as the Next Prominent Trend?
Article Rewrite:
Key Takeaways:
– PEPE, BONK, and WIF have joined the billion-dollar club with their market caps soaring high.
– PEPE’s trading volume has surged by 50%, reaching $2.48 billion, while WIF has spiked by 38%.
– According to the Santiment report, investors are attracted to trending meme coins for high returns.
Meme coins with relatively low values are stealing the spotlight in the world of cryptocurrency, overshadowing big-cap meme coins like Dogecoin and Shiba Inu. These small-cap meme coins, including PEPE Coin (PEPE), dogwifhat (WIF), and BONK, have reached new heights in recent weeks.
Entering the Billion-Dollar Club
Pepe, BONK, and WIF have recently become part of the exclusive billion market cap club. Pepe’s market cap stands at $4.47 billion, marking a gain of 16.20%, while Bonk’s market cap is currently at $2.23 billion, with an impressive gain of 18.32%. Additionally, Dogwifhat (WIF) has emerged as a newcomer with a market cap exceeding $3.27 billion, showcasing an impressive gain of 40%.
Small Caps, Big Gains
Amidst this surge, the trading volumes for PEPE Coin have skyrocketed, attracting attention from crypto enthusiasts. With a value gain of 50%, the 24-hour trading volume for PEPE Coin now stands at $2.48 billion. Despite this surge in trading volumes, the current price of PEPE Coin reflects a 14% increase, reaching $0.00001053.
Meanwhile, dogwifhat (WIF) has surged by 38% in the past 24 hours, reaching a new all-time high of $3.3. The daily trading volumes for dogwifhat have also doubled to $851 million. Over the past two weeks, the price of dogwifhat has soared by an impressive 700%. Notably, there are plans for a high-profile display of Dogwifhat’s mascot, featuring a “Shiba Inu-themed” design, in the Las Vegas skyline, following a successful fundraising effort that exceeded $650,000.
Moreover, BONK, a Solana-based meme coin, has surged by 20% in the past 24 hours and is currently trading at an all-time high of $0.000036. BONK’s recent rally follows its listing on top crypto exchanges like BitMEX, with gains over the past two weeks reaching an impressive 170%.
Cash Flow Into Meme Coin
As meme coins continue to make headlines, investors are drawn to their potential for high returns. Santiment, a leading on-chain data provider, reports a significant increase in meme coins as investors seek alternative assets with the potential for exponential growth. The surge in meme coin popularity reflects a broader trend of diversification within the crypto space, as investors look beyond traditional cryptocurrencies for investment opportunities.
#Memecoins had another big day as #Bitcoin’s #AllTimeHigh notched above $73.6K. With each $BTC rise in March, it appears profits are quickly being redistributed to speculative assets with low liquidity. Track #memecoin metrics on this useful watchlist:
https://t.co/XgaeFiQ8XG pic.twitter.com/9bl4L2TVbm
— Santiment (@santimentfeed)
March 13, 2024