The meme coin market is back in the spotlight, with Pepe (PEPE) leading the charge with a staggering 70% surge over the past 24 hours. This incredible leap solidifies PEPE’s position as the top gainer in the cryptocurrency realm, amidst a broader altcoin season revival.
Weekend Surge for Meme Coins
Over the weekend, meme coins experienced a collective upswing, signaling a potential resurgence of the altcoin market. Alongside PEPE, other notable gainers included Shiba Inu (SHIB), Bonk (BONK), dogwifhat (WIF), and Floki (FLOKI), all securing spots in the top five gainers’ list.
While some meme coins experienced minor corrections, PEPE showcased remarkable resilience. Despite a 13.84% dip on February 29th, PEPE has bounced back remarkably, securing three consecutive days of substantial gains. This resilience underscores investor confidence in PEPE’s potential.
PEPE’s Meteoric Rise
PEPE’s current surge comes on top of a cumulative seven-day gain of 411%. This meteoric rise has allowed PEPE to conquer multiple resistance points, with its sights now set on breaching the $0.00000760 mark.
The broader meme coin market has witnessed a significant surge in trading volume, with Santiment data revealing a staggering 3,000% increase over the past week. Investors are flocking to meme coins like FLOKI, SHIB, PEPE, and BONK to capitalize on the ongoing rallies.
Market Cap and Trading Volume SoarLSO
CoinMarketCap data confirms the escalating interest in meme coins. The market’s trading volume has surged by 29% in the last 24 hours alone, reaching an impressive $16.78 billion. Bolstered by price appreciations, the global meme coin market cap has also skyrocketed to a staggering $51.75 billion.
Also Read: Meme Coins Make a Meme-orable Comeback: FLOKI Up 300%+, WIF Soars 400%+ in 7 Days!
Dogecoin and Shiba Inu Remain Dominant
Dogecoin (DOGE) still reigns supreme within the meme coin market, accounting for a significant 46.7% of the total valuation with a market cap of $24.2 billion. Shiba Inu follows closely behind, commanding 31% of the market cap with a valuation of $16 billion.
PEPE’s remarkable surge serves as a testament to the enduring appeal of the meme coin market. While inherent volatility remains a factor, the potential for substantial gains continues to fuel the ongoing meme coin mania, presenting exciting opportunities for investors willing to take the ride.
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