The cryptocurrency arena has recently experienced a significant surge in value, with Bitcoin setting a new all-time high mark. Bitcoin’s value soared to a record $69,990 on Binance, and even edged past $70,000 in the futures market. Ethereum (ETH) also experienced substantial growth, climbing to $3,990 and momentarily breaching the $4,000 threshold in futures trading. This surge raises questions about the performance of meme coins in the current market climate.
Continued Surge of Meme Coins
This week echoed the previous week’s meme coin craze, spearheaded by Dogecoin (DOGE) and Shiba Inu (SHIB). These lower-volume cryptocurrencies left a notable footprint throughout the week. Despite the AI craze, meme coins clinched the top spots in market listings, with FLOKI leading the charge. FLOKI’s value spiked to $0.0002304, marking a staggering 69% increase in the last day and over 150% in the past week. With a market cap now exceeding $2.3 billion, FLOKI stands out significantly.
Rising Stars in the Meme Coin Space
Following closely, Pepe (PEPE) secured the second rank with a 33% hike in price, propelling its market cap past $3.8 billion. PEPE’s frog theme distinguishes it from the prevalent dog-themed meme coins. Dogwifhat came in third, recognized previously by Arthur Hayes, and saw a 31% upswing in a single day and a 97% surge over the week, pushing its market cap to $2.3 billion. Lastly, BONK landed in fourth position, contributing to the Solana network’s boost last year. BONK’s value rose by 20.6% to a new price of $0.00003317, and its market cap now stands over $2.1 billion.