The cryptocurrency market’s early March upswing has especially favored meme-based digital currencies. With Bitcoin spearheading the rally to record-setting levels, niche meme coins PEPE, SHIB, and BONK have seen their values soar, capturing mainstream attention. This piece explores the current trajectory of these popular meme tokens.
Shiba Coin Escapes Its Low, Eyes Previous Highs
Shiba Coin, commonly referred to as SHIB, broke free from its $0.000009 price point, embarking on a meteoric ascent. The token swiftly crossed the $0.00001 threshold, setting its sights on record highs. SHIB’s surge catapulted it back into the top 10 by volume, only to witness a subsequent sharp pullback below $0.00004 and then down to below $0.000030. Despite this, SHIB’s value has recently inched up, with a nearly 2% market capitalization gain.
PEPE Coin Surprises with Significant Gains
PEPE coin emerged as one of the biggest surprises of the meme coin frenzy. After a staggering 582% surge over the past month, PEPE has witnessed a recent 10% dip in price, followed by an 11% recovery in the last 24 hours, now trading at $0.00000795.
BONK Coin Rallies on the Solana Network
BONK, another meme coin originating from the Solana network, has enjoyed a successful month with a 93% appreciation. Although it experienced a 5% rise in the past day, BONK’s 24-hour trading volume decline suggests possibly reduced investor interest.
The future of these meme coins could be closely tied to Bitcoin’s performance. A BTC rally might prompt another surge in meme coin prices, while a downturn could lead to significant value drops across the board.