Memecoin prices surge after crypto market crash
On August 6, 2024, a day after Bitcoin crashed below $50,000, most of the top 20 memecoins by market cap regained their lost ground, adding 20% or more.
One of the growth leaders was Pepe (PEPE), which rose by more than 26%, according to CoinMarketCap. At the time of publication, PEPE is still trading below $0.00001, with a market cap of about $3.22 billion. Over the past seven days, the asset’s price has fallen by almost 35%.
Another memecoin, BONK, launched on the Solana network, has risen by 21% and is trading at $0.00001925 at the time of writing. The market capitalization of the asset is estimated at $1.3 billion.
Some memecoins have grown by about 40% in a day - for example, Popcat (POPCAT), Ponke (PONKE), MAGA. The Brett coin (BRETT), launched on the second-layer Base network from Coinbase, has risen by 46%.
