Memecoins are having a blast right now. The cryptocurrency market went into a frenzy after Bitcoin (BTC) hit an all-time high of $111,814 on May 22. Many assets began to follow BTC’s trajectory. While we witnessed a market-wide rally, other tokens seem far from hitting new peaks. BTC’s rally seems to have cooled off today. Memecoins, however, continue to register big gains.
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Meme Cryptocurrencies Ride The Bitcoin Wave
BTC’s rally may have led to a surge in investor confidence. The latest BTC surge was likely due to a spike in institutional investments. Retail investors may have taken a backseat in the current market rally.
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Meme cryptocurrencies have maintained gains even after BTC’s rally seems to have cooled off. Some memecoins have even registered double-digit gains amid a market-wide consolidation phase.
Top 3 Meme Cryptocurrencies Outperforming BTC Right Now
1. Dogwifhat (WIF):
WIF has had an explosive rally over the last few days. The asset has rallied 8.5% in the daily charts, 19.4% in weekly charts, 75.5% in the 14-day charts, and 123.8% over the previous month. The meme cryptocurrency’s price is still down 58.2% since May 2024.
2. Pepe (PEPE):
PEPE is also currently performing better than Bitcoin (BTC). Frog-themed meme cryptocurrency has risen 8.5% today, 17.1% over the last 7 days, 19.4% over the last 2 weeks, 72.2% during the past month, and 10.5% since May 2024.
3. Bonk (BONK):
BONK is now the third memecoin that is performing better than the original cryptocurrency. Over the past several days, the asset has performed amazingly well. The daily charts show an 8.9% increase in BONK’s price, the weekly charts a 12.3% rise, the 14-day charts an increase of 14.4%, and a jump of 53% in the last month. Since May 2024, the value of BONK has decreased by 32.5%.
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