Meme coins like BONK, WIF, BRETT, and PEPE have been on the rise in the cryptocurrency market, with significant surges of over 15% each. While Bitcoin experienced a slight downturn, it has managed to climb 3% in 24-hour trading.
Starting with Bonk, a Solana-based meme coin, it has seen a 12% increase in the last 24 hours. Trading at $0.000022, Bonk has a trading volume of around $319.5 million and a market cap of $1.52 billion. Despite the recent surge, Bonk is still down 52% from its all-time high reached on March 4.
Next up is Dogwifhat, another Solana-based meme coin that has surged by 22% and is currently trading at $1.99. With a daily trading volume of $580 million, Dogwifhat has a market cap of $1.98 billion. The coin is still down 60% from its peak on March 31.
Brett, inspired by a character from the “Boy’s Club” comic, has also seen an 8% increase and is trading at $0.12. With a daily trading volume of $42.7 million and a market cap of $1.13 billion, Brett is the 58th largest cryptocurrency.
Lastly, PEPE, an Ethereum-based meme coin, has surged by 8.6% and is exchanging at $0.0000090. With a daily trading volume of around $908 million and a market cap of $3.8 billion, PEPE has shown significant growth.
The surge in meme coins is often associated with Bitcoin’s performance, as it influences the broader cryptocurrency market. When Bitcoin performs well, it boosts investor confidence and interest in alternative coins, including meme coins. This increased interest can create a positive feedback loop, attracting more investors and driving up prices.
Bitcoin’s dominance is currently at 53.64%, reflecting a slight decrease over the day. The global crypto market cap has risen by 3.2%, reaching a total of $2.08 trillion.
Overall, the recent surge in meme coins like BONK, WIF, BRETT, and PEPE is a result of the positive momentum in the cryptocurrency market, driven by Bitcoin’s performance and investor sentiment. As the market continues to evolve, meme coins are likely to remain a popular choice for traders looking to capitalize on the volatile nature of the crypto market.