Memecoins PEPE, Floki, Bonk, and More See 3,000% Surge in Weekly Volume: Altseason Imminent?

• Meme coins including Pepe, Bonk, and Floki have contributed to a 3000% surge in trading volume following rising interest. 

• An analyst admits that all meme coins would have a great period marked by an incredible price surge, but Pepe would stand tall. 

Meme coins announced their presence in a grand style in the ongoing broad market rally that has seen Bitcoin edging closer to its all-time high price of $69k. According to CoinMarketCap, the meme ecosystem has recorded a total market cap of $51 billion with a 24-hour trading volume of $17 billion. Santiment data confirms that trading volumes of Pepe, Floki, Shiba Inu, and Bonk have surged by more than 3000% in the past week. Among the several factors that might have triggered this explosive movement, the increase in public interest coupled with the general rise in price stands as the main driving factor.

As shown on various market data, Dogecoin has surged by 18% in the past 24 hours, trading at $0.161355. In the past week, the asset has recorded an 89% surge. 

Shiba Inu also appears to have overtaken several other cryptos by market cap in the past 24 hours with a price move of 18%. The asset is currently trading at $0.000026. 

Pepe is trading at $0.000007 after surging by 28% in the last 24 hours. In the past seven days, the meme coin has surged by 394%. Pepe’s trading volume is in billions, and its market cap of $2,977,798,854 positions it as the 41st largest crypto. Just two days ago, the market cap was around $1.5 billion. Pepe’s turnaround looks quite interesting as 70% of the asset holders “gnashed their teeth” some weeks back as reported by Crypto News Flash.

Price Analysis of Other Meme Coins 

Solana-based meme coin BONK has surged by 32% in just 24 hours, extending its weekly return to 182% to trade at $0.000033. Floki also had a 314% surge in the last seven days. In terms of trading volume, the asset is ranked 16th. A closer look at the market shows that the new meme coins are the ones recording triple-digit growth. That does not, however, take anything from the impressive run by the established ones like Dogecoin and Shiba Inu. According to an analyst, Doge could hit $0.11 as earlier reviewed by Crypto News Flash. 

Speaking on meme performance, a crypto analyst known as CryptoGodJohn believes that Pepe would certainly outrun its all-time high price. In this case, any consolidation would be a buying opportunity for the asset. Another analyst – MaxBecauseBTC appears to agree with this remark:

In my opinion $PEPE has the highest probability of being this cycle’s “Why didn’t I buy it” bag. The good news is that it hasn’t happened yet so you can still do something about it. I’ve had about 100 DM’s with people explaining to me how other meme coins are better than $PEPE for _____ reason. Here’s the thing, your meme coin is going to pump as well. But $PEPE is going to outperform. Pepe paired against all of these other meme coins looks fantastic. I am a chartist. I play the data. No emotions. Here’s the data. Hold whatever meme coin you want.

Several analysts believe that the anticipation around the Bitcoin halving event in April could be the main catalyst for the potential rallies in the broad market.