Pepe (PEPE), Ponke (PONKE), and Peanut the Squirrel (PNUT) Lead the Surge of Memecoins to New Heights

Memecoins are surging to new heights, with Pepe (PEPE), Ponke (PONKE), and Peanut the Squirrel (PNUT) leading the pack.

Memecoins, a class of cryptocurrencies inspired by internet memes and known for their high volatility and community-driven nature, have experienced a surge in recent times, driven by a wave of interest and speculation. Among the top memecoins, Pepe (PEPE), Ponke (PONKE), and Peanut the Squirrel (PNUT) have notably led the pack.

According to the latest data from CoinEdition, the memecoin market now commands a staggering $126.54 billion in market capitalization, with $31.96 billion being traded in the last 24 hours alone. This marks a significant presence in the cryptocurrency market.

Examining the Performance of Top Memecoins

PEPE, inspired by the popular Pepe the Frog meme, dropped 3.64% in the past 24 hours and is trading at $0.00002028. Despite the slight decrease, the memecoin has skyrocketed 51.94% in the last seven days, showcasing strong buying pressure.

In the last month, PEPE has surged a significant 96.95%, highlighting the coin's remarkable price appreciation. Moreover, since November 2023, the altcoin’s price has increased by an impressive 1687.70%.

With a market cap of $8.53 billion, PEPE is ranked as the third-largest memecoin by valuation and claims the 18th position overall. PEPE printed its all-time high at $0.00002524, indicating that it is currently trading at a discount of 19.82%.

Meanwhile, Peanut the Squirrel (PNUT), the memecoin featuring the animated squirrel from the "Surreal Entertainment" collective, dropped 4.4% in the past 24 hours and trades at $1.63. This marks a substantial decrease from its all-time high of $2.47, which was observed five days ago, showing a price decline of 34.06%.

Despite the recent drop, PNUT has exploded a whopping 229.37% in the past week alone and has printed 2972.25% in gains in the past 30 days. The cryptocurrency’s tremendous price surge has allowed PNUT to claim a market cap of $1.62 billion, making it the ninth-largest memecoin by market capitalization.

Diving Deeper into Ponke (PONKE)

PONKE, a Solana-based memecoin project, is ranked 150th on CoinMarketCap and is up 11.77% in the past 24 hours, currently trading at $0.8139. With a market cap of $452.17 million, the coin has shown significant growth potential.

In the past week, PONKE’s price increased 60.99%, and over the last 30 days, the coin has seen impressive gains of 104.34%.

Over the past year, PONKE surged 910.40%, showcasing remarkable price appreciation. The altcoin hit its all-time high at $0.8409 just two hours ago and is currently down 3.14% from it.

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