PEPE and FLOKI extend gains as memecoins tease bull run
Release: 2024/05/27 17:21 Reading: 693
Pepe and Floki Extend Gains as Memecoins Tease Bull Run
Pepe's price has surged 80% in the past week and over 140% in the past 30 days. FLOKI has also jumped 36% this past week and 53% in the last 30 days.
Pepe (PEPE): Outperforming Top Meme Coins
Pepe has been the standout memecoin this past week, rising over 80% to reach a new all-time high of $0.0000169 on May 27. The 24-hour trading volume of Pepe stood at over $1.8 billion at the time of writing, making it the fourth-largest coin by volume behind Solana, Ethereum, and Bitcoin. Pepe's market cap has risen to $7.1 billion, making it the third-largest meme coin behind Shiba Inu and Dogecoin.
FLOKI: Benefiting from Investor Interest
FLOKI has surged to $0.0002656 amid fresh momentum in the memecoin market. The coin's price is up 18% in the past 24 hours and 53% in the past two weeks, reaching highs last seen in March 2024. Coinbase's announcement of support for FLOKI perpetual futures has catalyzed further interest ahead of its listing on May 30.
Crypto Upbeat Ahead of US Election
The past week has been largely positive for cryptocurrency after major regulatory-related developments in the US. The SEC approved spot Ethereum ETFs, and lawmakers passed key crypto bills, suggesting a shift in the regulatory landscape.
Other Memecoins Making Waves
Bonk (BONK) and MAGA (TRUMP) are other memecoins making waves in the market today. MAGA has surged over 25% in the past 24 hours to reach a new all-time high above $13.
Conclusion
The gains seen by Pepe and FLOKI suggest that the memecoin market is experiencing a bull run. With bullish predictions for Bitcoin and the altcoin market, it is likely that PEPE and FLOKI's price gains are just getting started.
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