Memecoins
Pepe Meme Coins Market Capitalization Adds 26% in 24 Hours
Vladislav Sopov
The price of pepper is skyrocketing despite the general pessimism of the market; BONK and WIF are also the highest earners
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Despite the cryptocurrency market’s lackluster performance, meme coins on Solana (SOL) and Ethereum (ETH) are posting impressive gains. Pepe’s (PEPE) capitalization returned above $3.3 billion, while its trading volume exceeded the equivalent of $1.45 billion.
PEPE Meme Coin Price Rises 26%; WIF and BONK post double-digit gains
Pepe (PEPE), the third largest meme cryptocurrency, today demonstrates the largest gains among all the top 100 cryptocurrencies by market capitalization. In just 24 hours, the price of PEPE increased by more than 26%, while net trading volume in spot and futures pairs exceeded $1.4 billion.
Image by CoinGecko
Other meme cryptocurrencies have also seen significant increases over the past day. Bonk (BONK) gained more than 22%, while Shiba Inu (SHIB) and Dogwifhat (WIF) gained 10.4% and 16%, respectively.
The meme cryptocurrency segment’s aggregate market capitalization targets $50 billion after rising 4.9% in 24 hours.
As previously explained by U.Today, major meme coins Dogwifhat (WIF) and Pepe (PEPE) were listed on Coinbase in April 2024.
The largest meme cryptocurrency, Dogecoin (DOGE), gained 10% overnight.
The aggregate capitalization of cryptocurrencies increased by only 3.3% and is trying to stay above the $2.32 trillion level.
PEPE enters the top 10 by trading volume, overtaking XRP
The surge in PEPE’s price led to the liquidation of $5.6 million of its futures positions. 71% of the positions canceled were short.
Additionally, Shiba Inu (SHIB), a spin-off of Ethereum (ETH) and Arbitrum (ARB), reached its highest local trading volume. PEPE replaced XRP to become the ninth most traded cryptocurrency, with an aggregate volume of over $1.45 billion.
While yesterday all the meme cryptocurrencies were in the red, today they seem to be leading the market recovery with excellent gains of 10-30%.
About the author
Vladislav Sopov
Blockchain analyst and writer with scientific background. 6+ years in IT analytics, 3+ years in blockchain.
He has worked in independent analyzes and start-ups (Swap.online, Monoreto, Attic Lab etc.)