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Why Memecoins are Exploding

With a BTC all-time high likely imminent, meme coins are memecoining.

Jack Inabinet
Mar 4, 2024 • 2 min read

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📊 March Memecoin Madness. Bitcoin price held steady at $62k throughout Saturday but resumed its ascension towards all-time highs on Sunday, gaining nearly 10% before topping out at $67.5k and leaving BTC within inches of uncharted price territory…

As the Risk Rally continues across broader crypto markets, signs of heavy retail participation are making themselves abundantly evident, with popular memecoins surging to life and posting triple-digit gains on the week!

Memecoins dominate CoinGecko’s top gainers board on a weekly and daily basis, with the winners spanning a broad range of ecosystems, featuring Ethereum-based ERC20s such as PEPE, FLOKI, and SHIB, Solana-based SPLs like WIF and BONK, and the token of meme-centric blockchain DOGE.

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.