The world of meme-based cryptocurrencies is witnessing a thriving market, with Dogecoin and Shiba Inu leading the rally. These popular meme coins have demonstrated significant market movements, with recent periods showing a positive trend. Alongside these giants, lesser-known meme coins are also climbing to record-breaking heights, contributing to a lively trading environment within the meme coin sector.
Lesser-Known Meme Coins Skyrocket
Cryptocurrencies such as PEPE Coin, dogwifhat, and BONK have seen a remarkable surge in their values. PEPE Coin’s value soared by 14% to $0.000010049, pushing its market capitalization beyond $4.22 billion. Additionally, its trading volume spiked by 64%, making it the ninth most traded cryptocurrency. The coin’s price has risen by an astonishing 820% over the past two weeks, potentially influenced by speculations of Elon Musk’s endorsement.
Dogwifhat also made headlines with its market valuation breaching the $3 billion mark, and its trading price hitting $2.91, reflecting a 27% increase in value. The trading volume for dogwifhat doubled to $700 million, further emphasizing the coin’s 700% price jump within a fortnight. This Solana-based meme coin has recently secured significant financial support for an extensive marketing campaign.
Meanwhile, BONK continues its upward trajectory with a 13% price hike, maintaining trade at its peak value of $0.00003384, with a market capitalization of $2.2 billion.
Bitcoin’s Bull Run Boosts Meme Coins
The rising tide of Bitcoin, which hit a new all-time high of $73,600, appears to have had a positive ripple effect on the meme coin market. According to on-chain data provider Santiment, the enthusiasm surrounding Bitcoin’s performance in March has spilled over, bolstering the momentum of various low-volume cryptocurrencies, particularly those categorized as meme coins.