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Pepe (PEPE) has been one of the best-performing crypto assets since the beginning of the year, with a year-to-date (YTD) gain of over 400%. This crypto analyst predicts that PEPE can continue this impressive run and become the largest meme coin by market cap, ahead of Dogecoin and Shiba Inu.
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Illustration by Mitchell Preffer for Decrypt.
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The top memecoins are far from previous highs, yet retail investors may view them as fairer opportunities than VC-backed coins with high fully diluted valuations.
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The crypto market saw extra turbulence after Samourai Wallet’s CEO and chief technology officer faced legal action from the U.S. DOJ.
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Once dismissed as a fad, Meme coins are now emerging as serious contenders in the crypto market.
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Meme coins such as Dogecoin, PEPE, and WIF have continued to enjoy greater acceptance, which is evident in recent data showing that the demand for them has clocked a new high.
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While the broader cryptocurrency market has been relatively flat, meme coins have been on a tear, with Dogwifhat leading the pack. The most popular Solana memecoin reached a new all-time high earlier today.
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Solana and Ethereum, homes to some of the biggest and most popular meme coins, have both posted gains in the past day.
At the time of writing, SOL has increased by 10% and ETH by 6% compared to this time yesterday. That puts Solana at $189.98 and ETH at $3,541 at the time of writing.
Bitcoin may have dipped from its new all-time high it hit yesterday—but smaller cap meme coins and tokens are up big.
The biggest winner is Dogwifhat (WIF), which is up nearly 34% in 24 hours and is priced at $3.21, CoinGecko data shows at time of writing.
The Dogecoin (DOGE) status as the foremost meme coin has been strengthened by a recent development, which shows that the crypto token still has an edge over other top meme coins like Shiba Inu (SHIB) and Pepe (PEPE).
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March meme madness rages on as Floki Inu (FLOKI), Dogwifhat (WIF), and PepeCoin (PEPE) have all posted double-digit gains in the past day.
Altogether the three meme coins have seen $2.8 billion worth of volume in the past 24 hours, according to CoinGecko data.
With the crypto market recovering, meme coins such as PEPE, WIF, BONK, and MYRO are all back in the spotlight as they make their way toward new all-time highs.
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With a crypto market surge propelling Bitcoin to $65,000, just 6% below its all-time high, meme coins like PepeCoin, Dogecoin, and BONK are following in its wake with double-digit gains on the day.
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