Vladislav Sopov
Pepe price rocketing despite overall market pessimism; BONK, WIF also top gainers
Despite the apathetic performance of cryptocurrency market, meme coins on Solana (SOL) and Ethereum (ETH) are printing impressive gains. Pepe (PEPE) capitalization is back above $3.3 billion, while its trading volume exceeded $1.45 billion in equivalent.
PEPE meme coin price surges by 26%; WIF, BONK post double-digit gains
Pepe (PEPE), the third-largest meme cryptocurrency, demonstrates the largest gains today out of all top 100 cryptos by market cap. In just 24 hours, the PEPE price added over 26%, while net trading volume in spot and futures pairs exceeded $1.4 billion.
Other meme cryptocurrencies also posted significant increases in the past day. Bonk (BONK) added over 22%, while Shiba Inu (SHIB) and Dogwifhat (WIF) added 10.4% and 16%, respectively.
The aggregated market capitalization of the meme cryptocurrency segment targets $50 billion after a 4.9% increase in 24 hours.
As covered by U.Today previously, major meme coins Dogwifhat (WIF) and Pepe (PEPE) accomplished Coinbase listings in April 2024.
The largest meme cryptocurrency, Dogecoin (DOGE), added 10% overnight.
Aggregated crypto capitalization only increased by 3.3% and is attempting to stay above the $2.32 trillion level.
PEPE jumps into top 10 by trading volume, surpasses XRP
The upsurge of PEPE price resulted in $5.6 million of its futures positions liquidated. A total of 71% of the positions erased were shorts.
Also, Shiba Inu (SHIB), spin-off on Ethereum (ETH) and Arbitrum (ARB), reached its local trading volume high. PEPE replaced XRP as the ninth most traded cryptocurrency, with an aggregated volume over $1.45 billion.
While yesterday all meme cryptocurrencies were in red, today they seem to be leading the market recovery with excellent 10-30% gains.
