PEPE saw a huge jump of more than 420%, with its price surging over 670% in the last 30 days. Besides PEPE and SHIB, BONK, based on Solana, and FLOKI also performed well, with increases of over 37% and 12% respectively in the last 24 hours.
The surge in trading volume is fueled by the rising prices of these meme coins and the increasing interest of crypto enthusiasts in meme tokens. Alongside the substantial trading volume, SHIB, PEPE, FLOKI, and BONK have all seen significant price increases in the last 24 hours.
Meme Coins Reignite Frenzy and SHIB’s Notable Surge
Once again, meme coins are causing a stir in the cryptocurrency market, witnessing substantial gains in recent days. According to Santiment, an on-chain analytics firm, popular meme coins like SHIB, PEPE, FLOKI, and BONK have experienced a significant surge in trading activity, with trading volumes surging by over 3,000%.
📈 #Memecoins, particularly those that have been trending over the past week, have skyrocketed in trading volume due to surging prices and increased crowd interest. On average, $SHIB, $PEPE, $FLOKI, and $BONK has seen volume rise +3,000% in the past week. https://t.co/MMHxbMotu0 pic.twitter.com/AiIaEbgGIz
— Santiment (@santimentfeed) March 4, 2024
SHIB, a prominent meme coin, is currently trading near $0.000027, boasting a remarkable 30% increase in the last 24 hours alone. Zooming out, SHIB’s price has surged by over 185% in the last 7 days and an impressive 200% in the last 30 days.
Meme Token Performance Amid Cryptocurrency Momentum
Recent analysis highlights the remarkable performance of meme tokens such as PEPE, SHIB, BONK, and FLOKI. Over the past 7 days, PEPE surged by an astounding 420%, while in the last 30 days, it saw an impressive 670% increase. Similarly, BONK and FLOKI experienced significant gains of over 37% and 12%, respectively, in the last 24 hours.
Digging deeper into their performance over longer periods reveals even more staggering numbers. BONK and FLOKI witnessed massive surges of over 170% and 300% in the last 7 days, and over 215% and 420% in the last 30 days, respectively. Remarkably, all these meme tokens also saw a surge of over 100% in trading volume in the last 24 hours.
However, it’s crucial to consider that this significant price surge is closely tied to the ongoing upward momentum in major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). These top cryptocurrencies are steadily approaching their all-time highs, with Bitcoin merely 5% below its ATH, Ethereum down by 28%, and Solana by 50%.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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