Memes on Solana (SOL) and Ethereum (ETH) are generating significant returns despite the sluggish performance of the cryptocurrency market. The capitalization of Pepe (PEPE) has risen beyond $3.3 billion, and its trading volume has surpassed $1.45 billion in equivalent value.
PEPE meme coin price surges by 26%; WIF, BONK post double-digit gains
Out of the top 100 cryptocurrencies by market capitalization, Pepe (PEPE), the third-largest meme cryptocurrency, is showing the most growth as of right now. The PEPE price increased by more than 26% in a single day, and net trading volume in spot and futures pairings above $1.4 billion.
Significant gains were also reported by other meme cryptocurrencies on the previous day. While Dogwifhat (WIF) and Shiba Inu (SHIB) contributed 10.4% and 16%, respectively, Bonk (BONK) contributed more than 22%.
After rising 4.9% in just one day, the meme cryptocurrency segment’s total market valuation is aimed at $50 billion.
Major meme currencies Dogwifhat (WIF) and Pepe (PEPE), as previously reported by U.Today, successfully completed Coinbase listings in April 2024.
Dogecoin (DOGE), the biggest meme cryptocurrency, increased by 10% over night.
The total value of cryptocurrency rose by just 3.3%, and it is still trying to remain over $2.32 trillion.
PEPE jumps into top 10 by trading volume, surpasses XRP
$5.6 million worth of PEPE’s futures holdings were liquidated as a result of the price increase. Shorts made up 71% of the positions that were removed.
Additionally, the local trading volume of Shiba Inu (SHIB), a spin-off of Ethereum (ETH) and Arbitrum (ARB), achieved a record high. With a total volume of over $1.45 billion, PEPE surpassed XRP to become the ninth most traded cryptocurrency.
All meme cryptocurrencies were in the negative yesterday, but with fantastic increases of 10–30% today, they appear to be driving the market rebound.
