The sharp rise in cryptocurrencies at the beginning of March had a significant impact on the entire market. As always, Bitcoin led the surge, reaching historic highs. During this period, BTC‘s price successively set new all-time highs (ATHs), turning the world’s attention to cryptocurrencies. The biggest beneficiaries of this process were meme coins. Meme coins like PEPE, SHIB, and BONK reflected the market’s volume increase in a visibly noticeable manner. So, what is the current situation with these meme coins?
What’s the Dollar Value of Shiba Coin Now?
For Shiba, the escape from the price level of $0.000009 was the trigger for a full-fledged rally. After that, the price first surpassed the $0.00001 level and then started an unstoppable rise.
During the meme coin rally, SHIB attracted all the attention and briefly returned to the top 10 in volume rankings, securing the 10th spot. During this time, the price rose above $0.00004, approaching its previous ATH.
Subsequently, a sharp pullback in SHIB’s price began due to a market downturn. SHIB fell below $0.00004 again and then dropped below $0.000030.
As of the time of writing, SHIB is trading at $0.00002683 after a 1.66% increase over the last 24 hours. SHIB’s market capitalization also saw a nearly 2% increase to $15,739,095,795 during this period.
While all this was happening, SHIB’s 24-hour trading volume also decreased. The drop was 12.19%, reducing the value to $1.6 billion. Despite the price increase, this could be interpreted as investors being hesitant to sell their SHIB holdings.
PEPE Coin Challenges the Market
One of the biggest surprises of the meme coin rally was undoubtedly PEPE. At its peak, PEPE’s price reached $0.00001, effectively erasing a zero. Over the past month, PEPE has shaken the market with a 582% increase.
Looking at the last 7 days, there is a 10% decrease in PEPE’s price. However, in the last 24 hours, PEPE’s price has started to rise again. During this period, PEPE’s price increased by 11% and is trading at $0.00000795.
What’s the Latest on BONK Coin?
Lastly, BONK, one of the meme coins that made a mark last year on the Solana network, has had a truly successful past 30 days.
During this period, BONK’s price increased by 93%, delighting its investors. Although this increase was modest compared to its competitors, it still represented a strong performance against the rest of the market.
Considering the last 24 hours, BONK’s price has increased by 5%. Following the rise, the price stood at $0.00002373.
BONK’s 24-hour trading volume decreased by 14%, indicating a waning interest in the meme coin among investors.
In the coming days, a potential rise in BTC could trigger a new meme coin rally and set the stage for price increases. Conversely, a BTC downturn could pave the way for sharp declines in meme coin values.
