The meme coin get together has been going fairly sturdy in latest weeks! While the large-cap meme cash like Dogecoin (DOGE) and Shiba Inu (SHIB) take a breather after the huge surge, the small-cap meme cash refuse to cease anytime quickly.
Small Cap Meme Coins Hit Fresh ATH
There’s an enormous surge in buying and selling volumes for small-cap meme cash like PEPE Coin (PEPE), dogwifhat (WIF), and BONK, with every of them hitting contemporary all-time highs.
At press time, the PEPE coin price is buying and selling 14% up at $0.00001003 with a market cap of $4.22 billion. Also, PEPE ranks because the ninth-most traded cryptocurrency with day by day buying and selling volumes taking pictures 100% to $2.3 billion. In simply the final two weeks, the PEPE value has surged by a staggering 820% now surging to its all-time highs. The latest surge within the PEPE Coin value comes amid rising hypothesis of Elon Musk’s support for the meme coin.
On the opposite hand, dogwifhat (WIF) has surged 30% within the final 24 hours hitting its new all-time excessive at $3.0 with its market cap of $3.0 billion. Also, the day by day buying and selling volumes for dogwifhat (WIF) have surged by 100% to $700 million. Over the final two weeks, the dogwifhat (WIF) value has additionally surged by a staggering 700%.
The Solana memecoin referred to as dogwifhat (WIF) has achieved a fundraising milestone, amassing over $650,000. As a consequence, plans are underway for a distinguished show within the Las Vegas skyline. Notably, the mascot of dogwifhat, that includes a “Shiba Inu-themed” design, will grace the Las Vegas skyline for a period of as much as one week.
Similarly, the Solana-based meme coin BONK has additionally surged 13% within the final 24 hours at present buying and selling at its all-time excessive of $0.00003366 with a market cap of $2.2 billion. The BONK price rally comes on the backdrop of its latest itemizing by prime crypto exchanges like BitMEX. The BONK positive factors during the last two weeks stand at a staggering 170%.
Capital Allocations to Meme Cryptocurrencies
Santiment, a number one on-chain knowledge supplier, reports a major uptick in meme cash as Bitcoin achieves a brand new all-time excessive, surpassing the $73,600 mark.
The exceptional efficiency of meme cash coincides with Bitcoin’s continued ascent in March, indicating a notable development of revenue redistribution in direction of speculative belongings characterised by low liquidity. With every surge in Bitcoin’s value, buyers seem like swiftly reallocating earnings to those different belongings, reflecting a rising urge for food for high-risk investments throughout the cryptocurrency market.
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