In the past few days, meme coins have gained popularity as Bitcoin and Ethereum took a break. Pepe, a frog-themed meme coin, outperformed other meme coins such as Shiba Inu and Dogecoin with a 70% increase in the past 24 hours and weekly and monthly gains of 400% and 700%, respectively. Trading volumes for meme coins surged 3000% in the past week, with SHIB, FLOKI, PEPE, and BONK recording significant upticks in social dominance. The total market cap for meme coins surpassed $50 billion, with overall trading volume reaching $16 billion in the past 24 hours.
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