Meme Coins Brett, Bonk, and Pepe Surge as Market Goes Down
Release: 2024/07/11 18:04 Reading: 457
Meme Coins Brett, Bonk, and Pepe Surge Amid Market Downturn
In the wake of a broader market stagnation, meme coins are emerging as top performers. Brett (BRETT), a token on Base chain, has taken the lead.
While major cryptocurrencies like Bitcoin and Ethereum have remained relatively stable, Brett has surged by 7%, Pepe (PEPE) by 6%, and Bonk (BONK) by 4% over the past 24 hours. This performance places them among the top six gainers in the top 100 cryptocurrencies by market capitalization, with Brett claiming the top spot.
Brett Leads the Pack
Brett has also led the pack over the past week, soaring by an impressive 51%. In comparison, the second-largest gainer, Injective (INJ), has seen a modest 10% increase. In contrast, Bitcoin and Ethereum have experienced declines of 4% and 6.5%, respectively, over the past seven days.
Other prominent meme coins have not fared as well, with Dogecoin (DOGE) falling by 13%, Shiba Inu (SHIB) dropping by 14.5%, Dogwifhat (WIF) plummeting by 23%, and Floki (FLOKI) declining by 27%.
Brett is currently priced at $0.1673 on Gate.io and has seen nearly $130 million in trading volume over the past 24 hours.
Inspired by Matt Furie's comic series "Boy's Club," Brett is marketed as Pepe the Frog's "best friend." According to its official website, Brett is a "dancer and loves video games."
Brett Surpasses $1 Billion Market Cap
Last week, Brett surpassed a $1 billion market cap after a single-day increase of 24%. Currently, the token boasts a market cap of $1.7 billion, making it the 67th largest cryptocurrency on CoinGecko. It is now poised to surpass its Solana-based competitor, BONK, which is just $200 million ahead in market cap.
Meanwhile, PEPE, a meme coin dedicated to Brett's more famous friend, has a market cap of $5.6 billion, ranking it as the 23rd largest cryptocurrency and the third-largest meme coin.
Understanding the Key Meme Coins
Brett (BRETT):
Inspired by the "Boy's Club" comic series, Brett is depicted as Pepe the Frog's best friend and has a focus on gaming and entertainment. It has gained significant attention and surpassed a $1 billion market cap.
Pepe (PEPE):
Rooted in internet culture, Pepe has leveraged its widespread recognition to become a major crypto player, with a market cap of $5.6 billion and a large community.
Bonk (BONK):
Operating on the Solana blockchain, BONK has carved a niche for itself in the meme coin landscape, offering unique advantages in terms of transaction speed and scalability.
Dogecoin (DOGE):
Created as a joke, Dogecoin has grown in popularity and market value, partly due to endorsements from Elon Musk. It remains a staple in the cryptocurrency market with a strong community.
Shiba Inu (SHIB):
Branded as a "Dogecoin killer," SHIB has gained popularity through clever marketing and community engagement, establishing itself as a significant meme coin.
Dogwifhat (WIF):
Inspired by dog-themed internet culture, WIF has attracted a niche following in the meme coin community, offering a playful twist on the trend.
Floki (FLOKI):
Named after Elon Musk's Shiba Inu, FLOKI combines meme culture with tangible utility through partnerships and projects, maintaining a notable presence in the space.
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