Memecoins winners of the week

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Last Updated on 26 May 2024 by CryptoTips.eu

You would think that given last Monday’s 20% jump, Ether would be among the best-scoring altcoin of the past seven days. However, as is often the case in 2024, it is the memecoins that take the top spot.

As always, we will leave open whether investing in meme coins is smart, but it is clear that some of these funny crypto coins are very volatile. During a crypto bull run, memecoins can rise as much as 50% in one day.

This week we once again noticed two memecoins in the top 10 of the best altcoins of the week.

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Pepe ā€“ 56% higher in a week

This is my personal opinion, but given Donald Trump’s popularity among young men who are into gaming, memes and crypto (a fairly large group in the United States), it seems logical to me that this would become a very good year for Pepe.

That is because in the United States the Pepe figure is seen as a symbol for the far right and the MAGA movement. As Trump is leading in the polls, the Pepe symbol is increasingly seen on sites such as 9gag and Memedroid, which is where his supporters post memes and commentary.

Pepe has had a fabulous 2024 already. This politically charged memecoin is closing in on the top 20 of CoinMarketCap and once again saw its price increase by 56% in the past seven days.

Bonk ā€“ 24% higher in a week

We told you about Bonk, the memecoin of the Solana ecosystem, for the very first time back in November 2023. At that time the coin was not even featured in the coinmarket cap top 100, but it did manage to rise by some 2,000% in a single month. By now, Bonk has continued in that manner and now ranks 50th in the CoinMarketCap top 100.Ā 

Bonk was already launched in December 2022, which is when the Solana ecosystem was in trouble due to the bankruptcy of the very large crypto exchange FTX that was closely linked to Solana (as Sam Bankman-Fried was an early investor in Solana).

Since the conviction of Sam Bankman-Fried in early November, it turned out that the Solana price was not dependent on the FTX investment and since then Solana has started an incredible rally. The coins that depend on the Solana blockchain progressed much faster, of course.

In the past week, Bonk gained 24% and is climbing to his ATH again.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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