The interest in meme coins such as PEPE, SHIB, Bonk, and FLOKI has seen significant activity in 2024. Here's a detailed look at the current state of these coins:

- **Market Activity**: The volume of futures tracking meme coins has risen sharply, with over $50 million in liquidations for shorts against these tokens in a 24-hour period, indicating a surge in prices.

- **Price Movements**: PEPE, the frog-themed meme token on Ethereum, saw a 100% increase, setting record highs. Similarly, WIF, a dog-themed token on Solana, climbed by 80%, crossing the $1 price mark.

- **Trading Volume**: Ethereum-based DOGE, SHIB, PEPE, and FLOKI have captured most of the meme trading volume on their network, while BONK and WIF have become proxies for Solana.

- **Investor Interest**: Open interest in PEPE, SHIB, BONK, and FLOKI has grown to a cumulative $1.5 billion, indicating new money entering the market.

- **Market Sentiment**: Before the Bitcoin halving event in 2024, meme coins rallied up to 100%. In the Indian crypto exchange Bitcoiva, these meme coins reached their all-time high and maintained a 65% increase for three days.

Meme coins are often considered to have no intrinsic value but are gaining favor among traders for their potential profitability and as a reflection of online culture and memetic value. While they are risky investments, they can be a profitable way to benefit from ecosystem growth. It's important to note that the market for meme coins can be highly volatile and speculative. Investors should exercise caution and conduct thorough research before engaging in trading or investing in these assets.