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Crypto memecoins are experiencing a sudden price explosion and are taking over the market

Crypto memecoins are experiencing a sudden price explosion and are taking over the market

The Bitcoin (BTC) price has moved very quickly in the last few days. This is currently around 20 percent higher than three days ago and rising All-time high of $69,000. If you thought Bitcoin was the only one in the spotlight, you are wrong. Crypto memecoins have also catapulted to the top of the market with some notable price increases.

Bonk, Shiba Inu, Dogecoin and Pepe are skyrocketing

If you look at the currently fastest risers within the top 100 cryptocurrencies, the rise of memecoins quickly becomes clear.

The five best-performing cryptocurrencies include three memecoins. Solana (SOL)-based Bonk (BONK) is the big winner today with a price increase of 61.24 percent.

However, the price is still around 47 percent away from its all-time high from last December. In the last 7 days, BONK has roughly doubled in value.

Second in terms of fastest rises is Shiba Inu (SHIB), the second largest memecoin in the industry. In the last 24 hours, the price of SHIB has increased by 21.20 percent. As a result, SHIB has reached its highest price in about a year.

Dogecoin (DOGE), the absolute leader in the memecoin landscape, is also currently stealing the show. The price of DOGE is 16.42 percent higher than 24 hours ago and even 46.74 percent higher than a week ago.

Pepe (PEPE) has put together the most impressive rally in recent memory. Today the price of PEPE is currently in the red, but in the last few days the price has skyrocketed. PEPE is currently up a staggering 141.54 percent compared to 7 days ago.

According to CoinMarketCap, the total market capitalization of all memecoins combined increased by 15.02 percent today to nearly $33 billion.

Bitcoin turns red

While BONK, SHIB and DOGE had an excellent day, Bitcoin has hit the brake pedal for now.

Yesterday, Bitcoin price rose to an all-time high of just over $64,000. However, today the price is largely moving sideways and is in a range between $62,000 and $63,600.

Over the past few hours, the price has seen a slight decline and is at $60,653 at the time of writing.

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