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The ongoing cryptocurrency rally, primarily driven by euphoria over the Bitcoin (BTC) halving, which has already seen BTC surge above $65,000 and toward its all-time highs, has hardly left the traditional wild cards of the crypto market – meme coins – out.
In fact, multiple prominent meme coins have already found themselves among the biggest gainers on the market in the last 7 days, and according to data provided on X by Santiment, a market intelligence platform, many of them have seen volume in the same period increase by approximately 3,000%.
PEPE’s price is also 37.92% in the green in the last 24 hours and at the time of publication, its price is $0.000007136. Judging by its recent performance, the overall crypto market trend, and Bitcoin’s own searching for a new all-time high, Pepecoin is likely in for even greater gains in the coming period.
Bonk (BONK)
While Bonk (BONK), the original meme coin of the Solana (SOL) blockchain, owes much of its popularity to the strange arbitrage opportunity linked to the first issue of cryptocurrency-ready Saga smartphones, it has also proven that it can surge on its own.
Looking at the crypto market in the past 7 days, BONK is the fourth-biggest gainer and is 172.05% in the green in the time frame.
Additionally, not only do the latest 24 hours of trading hint at a continuation of the trend as BONK is up another 31.46% to $0.00003239, but it may also receive another major boost in the coming months as the Solana mobile team is working on a new smartphone – making now a particularly opportune time for anybody wishing to gain from upcoming developments.
Shiba Inu (SHIB)
Perhaps the world’s best-known joke-based cryptocurrency, Shiba Inu (SHIB), has been hot on BONK’s tail in the last week of trading. At the time of publication, the dog-themed meme coin is the fifth-biggest crypto market gainer in the time frame and is up 168.49%.
Much as is the case with BONK and FLOKI, Shiba Inu’s price performance in the last 24 hours indicates that the rally is far from exhausted, and the Ethereum (ETH)-based token is 20.90% in the green with a press time price of $0.00002585.
Floki (FLOKI)
Over the course of the previous 7 days, the combination of a shiba inu dog and Gustav Skarsgard’s Vikings character – Floki – has also proven highly successful as Floki Inu (FLOKI) rose as much as 312.81%.
The meme coin, known as one of the leading such assets in the Web3 ecosystem, has also offered a strong performance – albeit with significant volatility – in the last full trading day and is up 13.49% in the time frame with a price of $0.0001502 at the time of publication.
Finally, FLOKI recently hit a record of $525 in total value locked (TVL), surpassing the combined TVL of PEPE, BONK, WIF, DOGE, and SHIB, making it a particularly strong pick.
Dogecoin (DOGE)
While it would be hard to talk about meme coins without mentioning Dogecoin (DOGE), it would appear it is likewise hard to have a meme coin rally without DOGE surging as well.
On the list of last week’s top-performing cryptocurrencies, Dogecoin has taken the seventh spot as it is a significant 90.06% in the green in the time frame.
DOGE’s 24-hour performance has also placed well outside the list of top cryptocurrencies under $0.10 as it rose another 19.53% to the press time price of $0.1609.
Conclusion
Given meme coins’ positioning in the crypto market, as well as the general prominence of the listed assets, their recent performance hardly comes as a surprise.
What is exciting, however, is that despite their recent skyrocketing, the five cryptocurrencies are likely to continue offering a strong performance thanks to the upcoming developments, including the forthcoming Bitcoin halving and, given they are based on internet jokes, the approach of April 1 which is likely to lead to some interaction between Dogecoin supporter Elon Musk and the asset class.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.