Meme Coin Frenzy: SHIB, WIF, BONK Lead Crypto Market Surge

Over the last 24 hours, so much of meme cash, at the side of Shiba Inu and Floki Inu, possess experienced a predominant surge in value, boasting positive factors exceeding 50%.

Indeed, this necessary designate performance has propelled many investors to unprecedented profits, underscoring meme tokens’ rising hobby and doable profitability.

SHIB Takes Centre Stage in Meme Coin Rally

Per pricing files from BeInCrypto, SHIB has surged by a ambitious 69% within the past 24 hours. This upswing in Shiba Inu’s value marks a continuation of a optimistic pattern, with the token having gained 128% over the final week.

“Shiba Inu is the most up-to-date meme coin surging in value after Dogecoin, Bonk, Floki, and Pepe possess all taken their turns within the solar as the work week attracts to a shut,” blockchain analytical firm Santiment mentioned.

These unprecedented positive factors possess prompted many holders to capitalize on their SHIB investments, ensuing in some promoting off their holdings.

Indeed, a crypto whale no longer too prolonged ago pocketed over $2.5 million in profits after depositing 365.36 billion SHIB to Binance. This crypto whale before every thing withdrew the funds from Binance when it amounted to $3.24 million between November 17 and December 27, 2023, as reported by on-chain analytics firm Lookonchain.

Study more: 7 Scorching Meme Money and Altcoins which could well perhaps be Trending in 2024

Meme coins social dominance
Meme Money Social Dominance. Supply: Santiment

The cryptocurrency market has furthermore seen a meteoric upward push in varied meme cash. Over the last week, so much of cryptocurrencies like PEPE, WIF, BONK, DOGE, and FLOKI possess all witnessed indispensable surges.

As an illustration, WIF, a meme coin constructed on the Solana blockchain, has soared by 32% within the final 24 hours. It marks a staggering 319% elevate within the past week. This distinctive performance has propelled every early and late investors into unprecedented profits.

Lookonchain furthermore reported that a single crypto whale holds an unrealized revenue of roughly $1.35 million after purchasing 673,394 WIF for 7,059 SOL, comparable to $918,000. This whale has purchased a total of two.82 million WIF tokens at an moderate designate of $0.71 for 16,857 SOL, value $2 million.

Study more: 6 Completely Platforms To Defend Shiba Inu (SHIB) in 2024

In an identical diagram, BONK, but one more Solana-primarily based mostly meme coin, has surged 11% within the past 24 hours. This introduced its accumulated positive factors for the week to more than 100% and its market capitalization to $1.65 billion. Meanwhile, Dogecoin has experienced a critical uptick of 16.7%, culminating in a weekly contain of 66.6%, and PEPE has resurged by a ambitious 250%.


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