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The meme coin frenzy has been strong in current weeks! While main meme cash like Dogecoin (DOGE) and Shiba Inu (SHIB) pause after vital surges, smaller-cap meme cash present no indicators of slowing down anytime quickly.

Small Cap Meme Coins Hit Fresh ATH

There’s an enormous surge in buying and selling volumes for small-cap meme cash like PEPE Coin (PEPE), dogwifhat (WIF), and BONK, with every of them hitting contemporary all-time highs.

At press time, the PEPE coin price is buying and selling 14% up at $0.00001003 with a market cap of $4.22 billion. Also, PEPE ranks because the ninth-most traded cryptocurrency with day by day buying and selling volumes taking pictures 100% to $2.3 billion. In simply the final two weeks, the PEPE value has surged by a staggering 820% now surging to its all-time highs. The current surge within the PEPE Coin value comes amid rising hypothesis of Elon Musk’s support for the meme coin.

On the opposite hand, dogwifhat (WIF) has surged 30% within the final 24 hours hitting its new all-time excessive at $3.0 with its market cap of $3.0 billion. Also, the day by day buying and selling volumes for dogwifhat (WIF) have surged by 100% to $700 million. Over the final two weeks, the dogwifhat (WIF) value has additionally surged by a staggering 700%.

The Solana memecoin referred to as dogwifhat (WIF) has achieved a fundraising milestone, amassing over $650,000. As a end result, plans are underway for a distinguished show within the Las Vegas skyline. Notably, the mascot of dogwifhat, that includes a “Shiba Inu-themed” design, will grace the Las Vegas skyline for a length of as much as one week.

Similarly, the Solana-based meme coin BONK has additionally surged 13% within the final 24 hours at present buying and selling at its all-time excessive of $0.00003366 with a market cap of $2.2 billion. The BONK price rally comes on the backdrop of its current itemizing by prime crypto exchanges like BitMEX. The BONK positive factors over the past two weeks stand at a staggering 170%.

Capital Allocations to Meme Cryptocurrencies

Santiment, a number one on-chain knowledge supplier, reports a big uptick in meme cash as Bitcoin achieves a brand new all-time excessive, surpassing the $73,600 mark.

The outstanding efficiency of meme cash coincides with Bitcoin’s continued ascent in March, indicating a notable pattern of revenue redistribution in direction of speculative property characterised by low liquidity. With every surge in Bitcoin’s value, traders seem like swiftly reallocating income to those different property, reflecting a rising urge for food for high-risk investments throughout the cryptocurrency market.

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Bhushan is a FinTech fanatic and holds aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is constantly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and typically discover his culinary abilities.

The introduced content material could embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.