PEPE emerged as the latest meme coin mania this week after prices abruptly skyrocketed 180% over the past 7 days. The retail-driven crypto asset hit $0.0000033 Tuesday before retreating slightly to $0.0000031, leading the category’s renewed hype.
Floki Inu and Dogecoin also posted 20-30% returns amid the frenzy as trading volumes and futures funding rates spiked across meme exchanges. The bevy of dog-themed cryptocurrencies traces its momentum to Bitcoin cracking $60k, but also new traders chasing hype after seeing examples of parabolic profits.
In total, the meme coin sector vaulted to a $27 billion valuation as animal-inspired tokens once shunned as jokes again captivated speculators with their volatility. While risky bets, small buys can morph into windfall gains. As crypto veterans advise, never underestimate meme coins and the power of collective belief to manifest dramatic value spikes.
Powered by community excitement and fueled by tweets, memes and coin manias emerge in waves, enticing gamblers to try timing peaks. But like most trends, they fade quickly too. So traders should remember: get in, get out, secure profits.
