Meme Coins Go Ballistic, Led By Sector Titans PEPE, DOGE, SHIB And BONK
Meme coins skyrocketed over the past 24 hours with sector titans Pepe (PEPE), Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) leading the charge with turbocharged gains.
PEPE soared 66%, BONK jumped 54% SHIB skyrocketed over 30% while the DOGE price had surged more than 26% as of 4:15 a.m. EST. The latest overnight pump took weekly gains off the chart, with Pepe up 388%, Bonk 181%, Shiba Inu 178% and Dogecoin 91%.
Data from CoinMarketCap shows that all of the top 10 meme coins saw their prices rise more than 10% over the past 24 hours. This boosted the collective market capitalization of the meme coin sector by more than 33% to over $52.7 billion.
Anticipation Of A Dogecoin ETF Ignites A Meme Coin Rally
The founder of Mechanism Capital, Andrew Kang, predicted on X that a Dogecoin ETF (exchange-traded fund) may even be approved.
In a Mar. 4 post, Kang said that the odds of an eventual Dogecoin ETF is above 30%, adding that “anything is possible with recent regulatory developments.” He said that Donald Trump potentially becoming president again might boost the chances of a DOGE ETF. He also claimed that DOGE, much loved by Elon Musk, is the “most decentralized alt,” another factor that he said may increase the chances of a Dogecoin ETF becoming reality.
Current Securities and Exchange Commission chair Gary Gensler, who opposed even a spot Bitcoin ETF, might have other ideas.
