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Ethereum meme coin Pepe and its Shiba Inu-themed Solana competitors Dogwifhat and BONK have posted some huge gains while riding the wave of Bitcoin's 11% gain past $56,000.
Pepecoin (PEPE) has leapt 36% in the past 24 hours and is trading for $0.00000215 at the time of writing. That's an 80% gain from just a week ago and the highest PEPE has been since May 2023, according to CoinGecko data. At the time, PEPE had just entered the top 100 digital assets with a market capitalization of $540 million.
To put in perspective just how much the crypto market has grown since then, PEPE has seen its market cap almost double to $900 million and ranks as only the 102nd largest coin.
As the price has skyrocketed, a number of PEPE holders have cashed in. Six different wallets account for roughly $4 million worth of PEPE tokens sold today on Binance today, netting the holders about $2 million worth of profit.
Meanwhile, the Shiba Inu-themed meme coins on Solana have seen big gains as well.
Dogwifhat (WIF) has gained 46% in the past day and is currently trading for $0.5634. The meme coin has been in new all-time high territory since yesterday, when it surpassed $0.45 yesterday afternoon.
And BONK, which was originally airdropped to Solana developers in 2022 and then saw a massive surge in December that culminated in the token setting an all-time high of $0.000025, has increased 16% since this time yesterday. At the time of writing, BONK is trading for $0.00001445, according to CoinGecko data.
Dogecoin (DOGE) and Shiba Inu (SHIB), two of the original meme coins, have seen their own—albeit, much smaller—price rallies over the past day. DOGE, the first ever meme coin, is currently trading for $0.09652 after having gained 12% since Monday morning. And SHIB has gained 8% since yesterday, and is currently trading at $0.00001051, according to CoinGecko data.
For the past couple weeks, Dogecoin has been struggling to remain in the top 10 ranking of cryptocurrencies by market capitalization on price aggregators, like CoinGecko and CoinMarketCap. Today it's still solidly outside the top 10, with a $13.8 billion market cap compared to the next largest coin, Avalanche (AVAX), which is sitting at $14.8 billion market cap.
Edited by Andrew Hayward