- Meme coins PEPE, BONK and WIF have joined the exclusive $1 billion market cap club.
- While their hype have sustained them, they all need additional use cases to thrive in the future.
With the growing hype in the digital currency ecosystem, meme coins like Pepe, BONK, and dogwifhat (WIF) are riding the train to print impressive prices and market valuations. In the latest run in Bitcoin’s price to its All-Time High (ATH) above $69,100 and $70,000, the three meme coins extended their market cap into the exclusive $1 billion club, solidifying months of sustained growth trends.
The PEPE, BONK, and WIF Historical Growth Trends
For meme coins, the hype is often the major determinant that distinguishes which project will record massive embrace from the community and translate the adoption to price and market cap surge.
Dogecoin (DOGE) and Shiba Inu (SHIB) have showcased how it is possible for a meme coin to truly compete with established Layer-1 and Layer-2 protocols based on the power of the community. Dogecoin with a price and market cap of $0.1658 and $23,788,897,993 and Shiba Inu whose similar figures come in at $0.00003456 and $20,368,447,265 respectively have proven that for any meme coin, there is nothing impossible.
PEPE, BONK, and WIF are already on their path toward registering related valuations. PEPE has jumped by more than 4.1% in the past 24 hours to $0.000008696 with its market capitalization now pegged at $3,644,090,059. PEPE’s valuation has jumped by over 92% in the past week, capitalizing on the most historic week in the market concerning BTC’s price.
BONK has also registered its feet among the $1 billion-strong meme coins. Its price of $0.00003097 is currently masked by a 9.07% slump, a needed correction from the 22.2% it recorded over the past week. Amid its latest rally, Solana’s flagship memecoin saw its market cap top $2,018,642,023, placing it as the 61st largest digital currency in the market.
dogwifhat is arguably the most sensational of the meme coins considering it is the youngest of the three profiled tokens. At the time of writing, the token is down 9% to $2.08 with its market capitalization pegged at $2,072,252,531, bolstered by a 60% jump in the past week.
Maintaining the Legacy: Adding Use Cases
Experts in the digital currency ecosystem believe that hype can only get any project far in joining the exclusive $1 billion club, sustaining the momentum might require the eventual addition of a use case beyond the overheated hype.
Shiba Inu and Floki have particularly made this move over the past year. Echoing earlier coverage by Crypto News Flash, Shiba Inu launched Shibarium, its layer-2 scaling solution built on the Ethereum network as a way to support smart contract innovations and drive intense adoption that can place good demand on SHIB.
In recapitulation of Crypto News Flash’s earlier news, Floki is also undergoing intensive burning, a complement to the TokenFi platform it launched last year. With the goal to compete for a share of the $16 trillion tokenization industry, Floki hopes to drive more value to its ecosystem, a trait PEPE, BONK and WIF may need to learn from.
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