Memecoins
From 586,888% gains to a massive community!
In this crypto era, meme coins are benefiting the crypto community more than Bitcoin and Altcoins. This cycle has seen the rise of many meme tokens. Let’s look at three meme coins that are becoming very popular.
Pei-Pei
We have already talked about this token. It was born a month ago and is becoming very famous in the meme community. This red frog token, based on Pepe, has grown over the 28,000% in one monthIts market capitalization reached $139.01 million and is currently trading at $0.063279.
Source: Dexscreener
Analytical tools show that its main zone is around $0.062502 and the RSI indicates that it is oversold. This suggests that PeiPei could see a healthy price correction. The project’s Twitter account has 17,000 followers. PeiPei is ranked third among the top trending coins, behind Bitcoin and Render.
Source: CoinMarketCap
Its trading volume has increased by 49.77% in the last seven days. While the charts of the other two cryptocurrencies are in the red, PeiPei’s is in the green.
Pepu
Pepe Unchained is currently the most popular presale, having already raised $3 million. While the website states that this piece is for fun only, the presale performance suggests that the community is taking it seriously.
The speed of the fundraising indicates that it has attracted both retail investors and crypto whales. The pre-sale price is $0.0083591 and 273 million PEPU tokens have been staked.
Source: Pepe Unchained Official Website
According to the official website, the current staking reward is 608.82 PEPU per ETH block.
Source: Pepe Unchained Official Website
The popularity of PEPU comes from its white paperwhich describes PEPU as a Layer 2 solution built on the ETH ecosystem to offer improved speed and reduced fees.
BONK
Bonk is a Solana-based meme cryptocurrency based on the dog theme that has surpassed Dogewifhat. Since its launch in December 2022, the Bonk token has given its investors a return of 586,888.94% at its peak in March 2024. Many meme cryptocurrencies claim to go up to 500x, but Bonk has actually delivered on its promises.
Source: Dexscreener
It is currently trading at $0.00002420 with a market cap of $1.67 billion. On social media, its official Twitter account has a community of 325.5k followers. The charts indicate that this dog token is in the mood for some correction. Considering its rise in the last six months, who knows, it could also increase 500x from now on.
Conclusion
Currently, the total market cap of meme coins is $42 billion. In 2021, even when there were fewer meme coins, the market cap was almost $90 billion.
Source: CMC – Meme coin market capitalization in 2021 Source: CMC – Meme coin market capitalization in 2024
Back in the day, meme coins had more holding power, but today, some meme coin developers make a little money and then abandon the community. Therefore, it is important to do thorough research on any meme coin before investing. And remember to only invest what you can afford to lose.