Meme coins are seeing strong performance, with Bitcoin (BTC), which faced a downturn this week, climbing 3% in 24-hour trading. BONK, WIF, BRETT, and PEPE have all surged over 15%. Let’s dive into each.

Bonk

At the time of writing, Solana-based meme coin Bonk (BONK) was up 12% in the last 24 hours. The leading dog-themed Solana coin was trading at $0.000022. In the same timeframe, its trading volume saw a drop of 1%, hovering around $319.5 million, suggesting traders could be holding on to their BONK tokens and expecting a further price jump.

Moreover, BONK’s market cap stood at $1.52 billion, making it the 50th largest cryptocurrency. Despite the latest price surge, the coin is still down 52% from its all-time high of $0.000047, which it reached on March 4.

Dogwifhat

Dogwifhat has seen a greater jump of 22%, currently trading at $1.99. The 41st largest cryptocurrency in terms of market cap had a daily trading volume of $580 million.

At the time of publication, WIF’s market cap stood at $1.98 billion. The canine-themed meme coin, also a Solana-based coin, is still down 60% from its all-time high of $4.85 attained on March 31.

Brett

BRETT, the meme coin launched four months ago, was still up 8%, trading at $0.12. During the same period, the meme coin had a daily trading volume of $42.7 million, down 29%.

Additionally, the crypto asset’s market cap rose to $1.13 billion, making it the 58th largest cryptocurrency.

Pepe

PEPE, an Ethereum-based meme coin, was also up 8.6% over the past day and exchanging hands at $0.0000090. In the same timeframe, the daily trading volume of the crypto asset hovered around $908 million, down over 32%. Meanwhile, its market cap had jumped by 8%, and it now stands at $3.8 billion.

The general surge in all these meme coins follows a rise in the largest crypto asset by market cap, Bitcoin, which had risen by 3% over the past day to $56,713 on Saturday. Its 24-hour lows and highs were recorded as $54,839 and $56,856, respectively.

Bitcoin’s dominance is currently 53.64%, a decrease of 0.31% over the day, reflecting a notable jump in altcoin market activity. Meanwhile, the global crypto market cap has risen by 3.2%, bringing its total market cap to $2.08 trillion.

The big jump in the meme coin market is often linked to Bitcoin’s performance due to its influence on the broader cryptocurrency market. When Bitcoin performs well, it often leads to increased investor confidence and interest in alternative coins (altcoins), including meme coins. This phenomenon can create a positive feedback loop, where rising prices attract more investors, further driving up prices.

Stay informed with the latest updates and trends in the cryptocurrency world by exploring more news on Global Crypto News.

Post Views: 6