Meme Coins Go Ballistic, Led By Sector Titans PEPE, DOGE, SHIB And BONK

Meme cash skyrocketed over the previous 24 hours with sector titans Pepe (PEPE), Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) main the cost with turbocharged positive factors.

PEPE soared 66%, BONK jumped 54% SHIB skyrocketed over 30% whereas the DOGE worth had surged greater than 26% as of 4:00 a.m. EST. The newest in a single day pump took weekly positive factors off the chart, with Pepe up 388%, Bonk 181%, Shiba Inu 178% and Dogecoin 91%.

Information from CoinMarketCap reveals that the entire high 10 meme cash noticed their costs rise greater than 10% over the previous 24 hours. This boosted the collective market capitalization of the meme coin sector by greater than 33% to over $52.7 billion.

Anticipation Of A Dogecoin ETF Ignites A Meme Coin Rally

The founding father of Mechanism Capital, Andrew Kang, predicted on X {that a} Dogecoin ETF (exchange-traded fund) might even be authorised. 

I put odds of eventual $DOGE ETF at >30%. Something is feasible with current regulatory developments, Trump successful the presidency and Doge being probably the most decentralized alt

Everyone seems to be speaking in regards to the ETH ETF commerce however nobody is speaking in regards to the $DOGE ETF commerce pic.twitter.com/8ujjRyty4d

— Andrew Kang (@Rewkang) March 4, 2024

In a Mar. 4 publish, Kang stated that the chances of an eventual Dogecoin ETF is above 30%, including that “something is feasible with current regulatory developments.” He stated that Donald Trump doubtlessly turning into president once more would possibly increase the possibilities of a DOGE ETF. He additionally claimed that DOGE, a lot cherished by Elon Musk, is the “most decentralized alt,” one other issue that he stated might improve the possibilities of a Dogecoin ETF turning into actuality.

Present Securities and Trade Fee chair Gary Gensler, who opposed even a spot Bitcoin ETF, may need different concepts.

Greater than $100 million has been locked in perpetual futures contracts for SHIB. That is the primary time the collective greenback quantity has surpassed this threshold since August of 2023, in response to information from CoinGlass.

In the meantime, the founding father of 10X Analysis, Markus Thielen, stated {that a} “wave of retail [trading] exercise” has shifted from altcoins to the meme coin market. 

Different Scorching Contenders

This revived curiosity within the meme coin house may additionally bode effectively for smaller, up-and-coming meme cash and presale.

Amongst analysts favorites are new Solana meme coin, Smog, which rode the bullish tsunami this previous week with a 74% surge.

Different crimson scorching presales embrace Meme Kombat, which is gearing up for a number of main trade listings imminently, and Scotty the AI, one other dog-themed meme coin that flaunts its AI capabilities. 

Final however not least is Sponge V2, which guarantees to repeat the explosive 100X launch of its predecessor, Sponge V1.

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