- PEPE jumped 718% in a month to claim a fresh all-time high this Tuesday.
- Ultimate Memecoin Rally continues with BONK, FLOKI, and WIF price tripling.
- Massive FLOKI transfer piques the interest of a crypto whale-watching agency.
The escalating memecoin frenzy has seetoa flurry of animal-themed cryptocurrencies counting triple-digit gains over the past month. PEPE, FLOKI, and BONK all scorched back into the TOP 100 by crypto global market capitalization. PEPE even leaped to an all-time high nine hours ago to $0.000008518.
Mid-Caps Linger in the Green as Top Dogs Fight
Meanwhile, the dog-themed BONK is closely approaching TOP 50 by global market cap, whipping up 288.8% gains over the past seven days, to trade at $0.00003987 at publication. This marks a slight market correction from a new all-time high of $0.00004547, set on March 4, 2024.
Many small and mid-cap memecoins picked up on Dogecoin’s bullish wave as it embarked on a 132% weekly run. Further, SHIB now challenges DOGE for the top dog’s throne, as the former skyrocketed with a magnificent 289% run to approach a $24 billion worldwide market capitalization.
Binance Whale Moves 28B FLOKI: A Bullish Sign?
FLOKI is still 57.9% down from its all time-high set over two years ago. However, FLOKI can potentially recapture some of its former glory, based on this week’s tremendous price performance with 222.2% gains over the past seven days.
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Bringing Floki’s monthly spike to above 400%, whales on the BNB chain have been spotted relocating massive amounts to decentralized addresses. A BNB whale shifted 28.19B FLOKI tokens to a DeFi wallet worth $4.29 million at stamped transaction time in one such move.
The gargantuan transfer was spotted by LookOnChain, which estimated the whale’s profit at $1.58 million if they sold. That’s 628 more than the initial investment, but the whale hasn’t sold the holdings yet and has a net worth of $3,984,997.42 in FLOKI, according to DailyCoin’s on-chain research.
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Ultimately, PEPE, BONK and some of the recently soaring mid-cap memecoins have just claimed a new all-time high, which makes it difficult to determine the trendline for price movement. FLOKI is still over 57.9% down from its all-time high, which signifies potential, given that FLOKI’s high price correlation with its bigger siblings continues.
On the Flipside
- Some Bitcoin and Ethereum Maxis have voiced their opinion about memecoins leading the race not being “good for the space”.
- This is because most memecurrencies have a drastic market correction after crypto bulls lose their grip.
Why This Matters
Memecurrencies are known for their mass appeal, which often leads to tremendous social hype and contributes to retail blockchain tech adoption.
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