The meme coin frenzy continues as Shiba Inu, PEPE, Floki, and Bonk are seeing massive rallies in prices, with trading volumes skyrocketing. According to analytics platform Santiment, these memecoins have experienced an average trading volume increase of over 3,000% in the last seven days.
PEPE, an Ethereum-based memecoin, has surged over 370% in the past week, with its trading volume reaching billions and ranking as the eighth most traded token by volume. Despite being ranked 44th in market cap, PEPE’s market value has doubled from $1.5 billion to $3 billion in just two days.
On the Solana blockchain, Bonk has also seen a significant increase, with its price jumping 190% in the last week, approaching its all-time high at $0.0000345. Floki has charted a 350% rise on the weekly price index, ranking 16th in trading volume.
Meanwhile, popular meme cryptocurrencies like Dogecoin have witnessed a 91% weekly gain, while Shiba Inu is up 176%.
This surge in meme coin prices comes in the wake of Bitcoin reaching $65,000 on Monday, eyeing its all-time highs of $69,000. The total market capitalization of the top 100 meme coins has increased by 30%, reaching $52 billion, with a single-day trading volume of $17 billion.
The meme coin craze continues to attract attention and investment as these digital assets experience unprecedented price surges and trading volume spikes. Investors and traders are closely monitoring the meme coin market for potential investment opportunities and trends in this rapidly evolving space.
