The third week of August 2024 has been eventful for meme coins. Unlike the second week, when a ton of the top-ranking cryptos endured losses, most meme coins posted gains.

Among the plethora of tokens, Ethereum-based Pepe Âź PEPEUSD, Solana's Popcat (POPCAT), and the recently launched Sundog (SUNDOG) on Tron were the standout performers. Here is a breakdown of what drove their massive gains.

PEPE's Trading Volume Soars, Comes Back Alive

After a low period of activity, the price of frog-themed PEPE increased by 25% in the last seven days. The surge was largely driven by renewed interest, especially on August 23. On the mentioned date, the price of the meme coin jumped from $0.0000080 to $0.0000090 within a few hours.

This price increase was also accompanied by a sudden rise in trading volume, leading to

speculation that PEPE's price could be primed for more gains. As of this writing, the trading volume is almost $1 billion, representing a 106% hike in the last 24 hours.#pepeâŁïž $PEPE