Home > Information news > Meme Coin Trading Volume Surges 93% with PEPE and WIF Soaring

Meme Coin Trading Volume Surges 93% with PEPE and WIF Soaring

Release: 2024/02/29 06:17 Reading: 1000

Original author:CryptosHeadlines.com

Original source:https://coinmarketcap.com/community/articles/65df5b088c670863dcc198ad

With the ongoing bull run, investors and traders are shifting their attention to meme coins. In recent times, the trading volume of these coins has skyrocketed by more than 90%, accompanied by a 7.5% increase in the overall market cap.

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Notably, Pepe (PEPE) and Dogwifhat (WIF) have emerged as the focal points of interest within the meme coin space, witnessing significant price surges in the past 24 hours.

Meme Coins Surge: PEPE and WIF Tokens Lead the Way

On January 26, 2024, Arthur Hayes, a prominent trader and former CEO of BitMEX, hailed Dogwifhat (WIF) coin as the next big thing in the cryptocurrency industry, expressing disinterest in other cryptocurrencies. Following his endorsement, the WIF token’s price surged by over 100%.

The momentum behind this surge was further fueled by the breakout in the PEPE token and the prevailing bullish sentiment across the cryptocurrency landscape. Notably, top meme coins like DOGE and SHIB also witnessed substantial price increases in this bullish market.

Presently, the world’s third-largest PEPE token is trading close to $0.000003, experiencing over 40% upside momentum in the last 24 hours. On February 27, 2024, it saw a remarkable 50% increase. Over the past 7 days, PEPE surged by more than 150%, and in the last 30 days, it recorded a 175% price surge, attracting increased attention from investors and traders.

Similarly, the WIF token is trading around $0.76, with a significant price surge of over 40% in the last 24 hours. Over the past week, WIF experienced a surge of over 120%, while in the last 30 days, it saw a rise of over 135%. These impressive performances have further contributed to the growing interest and investment in both PEPE and WIF coins.

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Cryptocurrency Surge: Meme Coins and Top Cryptos Rally

Examining the performance of meme coins, Dogecoin (DOGE), the world’s largest meme coin, is currently trading around $0.098. Over the last 24 hours, it has seen a notable 6% increase in price. In the past 7 days, DOGE surged by over 16%, and in the last 30 days, it recorded a gain of more than 25%, reflecting significant upside momentum.

Also Read: BTC Hits $59K with $520M in BlackRock Bitcoin ETF

Amidst these substantial price surges in meme coins, leading cryptocurrencies like Bitcoin and Ethereum have also experienced noteworthy gains in the past 24 hours. Bitcoin, for instance, witnessed a surge of over 4.5%, bringing it closer to the $60,000 mark.

Meanwhile, Ethereum recorded a 2.3% increase in the last 24 hours, surpassing the $3,300 level. This collective bullish movement across meme coins and top cryptocurrencies underscores the current positive sentiment prevailing in the cryptocurrency market.

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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