Floki Inu, Dogwifhat, and PepeCoin Surge in Meme Madness
In the midst of March meme madness, three popular meme coins—Floki Inu (FLOKI), Dogwifhat (WIF), and PepeCoin (PEPE)—have experienced significant gains over the past 24 hours. CoinGecko data reveals that these three meme coins have collectively generated $2.8 billion in volume during this period.
Floki Inu Soars in Market Capitalization
Floki Inu, an Ethereum token inspired by the Shiba Inu dog and Norse mythology, has witnessed a remarkable surge in its market capitalization. Previously ranked as the 75th largest digital asset by market cap, Floki Inu has now catapulted to the 69th position. At present, the FLOKI price stands at $0.0001837, marking a 38% increase in value over the past day. Additionally, its market capitalization has reached $1.8 billion—a significant milestone for this meme coin.
It is worth noting that Floki Inu recently made its debut on Coinhako, a Singapore-based cryptocurrency exchange. While it is difficult to determine the exact impact of this listing on trading volume, several notable figures associated with Floki Inu have identified Coinhako as Singapore’s largest licensed exchange.
Dogwifhat Achieves Impressive Growth
Dogwifhat (WIF), a meme coin based on Solana blockchain technology, has also experienced substantial growth. Within the past day alone, WIF has surged by 22% and is currently trading at $2.14. Earlier this week, Dogwifhat achieved a market capitalization of $2 billion for the first time. By Friday morning, this figure had risen to nearly $2.1 billion.
CoinSpot, an Australian exchange, recently added WIF to its list of supported cryptocurrencies. While the reserves and volume of this coin are not publicly disclosed on U.S.-accessible price aggregators, the absence of such data does not seem to have hindered its impressive performance.
Moreover, WIF has been in direct competition with another Solana meme coin called BONK. Although the market capitalizations of these tokens have fluctuated over time, WIF currently maintains a higher value than BONK—creating a gap of approximately $58 million between the two.
PepeCoin’s Persistence in Meme Craze
PepeCoin (PEPE), inspired by the popular Pepe the Frog meme, has remained consistently successful throughout the week. Over the past day, PEPE has recorded a 17% increase in value and is currently trading at $0.0000007844. Impressively, it has surged by 144% within just one week.
PEPE has frequently emerged as one of the top-performing meme coins in recent times. Its popularity soared when it was launched in May last year, sparking a meme craze. Remarkably, its current price is now 20% higher than its previous all-time high set in May 2023.
Hot Take: Meme Coins Dominate the Crypto Scene
Meme coins continue to dominate the cryptocurrency landscape, attracting significant attention and generating substantial trading volume. The recent success of Floki Inu, Dogwifhat, and PepeCoin highlights the enduring appeal and potential profitability of these meme-based digital assets.
While meme coins may be characterized by their playful nature and speculative nature, they have undeniably become a force to be reckoned with in the crypto market. Their ability to capture the imagination of investors and traders alike demonstrates the power of viral content and community engagement.
As meme madness persists, it will be interesting to see how these meme coins evolve and whether they can sustain their current momentum. With their unpredictable nature and the ever-changing dynamics of the cryptocurrency space, meme coins are sure to continue surprising us in the days to come.
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