The Memes Olympics: Both Old and New Generation Meme Coins Soar Together, FLOKI/SHIB Takes the Lead with a Massive Single-day Surge

After Bitcoin briefly touched 64K and ETH reached 3500, their prices fluctuated around 62K and 3400 respectively. During the same period, meme coins experienced significant increases and entered the meme season commonly seen in bull markets. Meme coins from the dog series, FLOKI and SHIB, led the surge, with both coins seeing a 111% and 82% increase in the past 24 hours. On March 2nd, meme coins dominated the daily gainers list among the top 100 cryptocurrencies.

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Meme coins on the rise: FLOKI and SHIB lead the way, while new-generation PEPE and WIF skyrocket

During the previous bull market, meme coins FLOKI and SHIB emerged as mainstream meme coins after the traditional meme coin DOGE (2013) and showcased astonishing gains in the meme season of 2024. FLOKI has already surged by 323% in the past 30 days, while SHIB has seen a 155% increase.

In this current bull market, new-generation meme coins have emerged (April 2023):

PEPE
With a 442% increase in the past 30 days and nearly 70% increase on March 2nd. Another meme coin from the 2023 generation:

dogwifhat (WIF)
With an almost 500% increase in the past 30 days, it also operates on the Solana blockchain, setting it apart from other meme coins.

Additionally, Bonk (BONK), which gained popularity due to the Solana airdrop on mobile phones, also originated from the Solana blockchain. It was created during the bear market period at the end of 2022 and is included in today’s meme coin surge.

(BitMEX founder continuously bullish on WIF)

DOGE, a meme coin created in 2013, has become one of the top ten cryptocurrencies by market capitalization after experiencing multiple bull and bear cycles. It represents the classic meme coin. However, its gains in this meme coin craze have fallen behind FLOKI/SHIB and other new-generation meme coins.

On February 3rd, meme coins occupied the entire top gainers list among the top 100 cryptocurrencies, including some meme coins that are not traditionally considered meme coins, which may also demonstrate their meme nature.

For example, Terra Classic (LUNC), which collapsed due to the LUNA/UST incident, the ancient Bitcoin fork coin Bitcoin Cash (BCH), and ApeCoin (APE) created by the BAYC community, all enjoyed fame but lacked practical ecosystems and applications.

The period of meme coin frenzy in the past has often been a sign of the end of a bull market, which has sparked discussions. However, with Bitcoin yet to reach a new all-time high, the idea of the end of a bull market may not convince everyone. Both the Bitcoin and Ethereum communities still have many topics to explore, especially in the context of non-Bitcoin ETF trading days, where market factors are not complete.

Regardless, interesting and low-priced meme coins often attract many people to invest. However, due to the difficulty of predicting price fluctuations, risk management should be considered.

Ape
DOGE
Floki
PEPE
SHIB
WIF
Meme coins