Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Memecoin Rally: PEPE, SHIB, and BONK Rally Post Bitcoin ETF Approval

Memecoin Rally: PEPE, SHIB, and BONK Rally Post Bitcoin ETF Approval

CoineditionCoinedition2024/01/16 14:16
By:Kelvin Munene
  • PEPE leaps over 20%, riding the Bitcoin ETF wave for massive gains in the meme coin market.
  • SHIB attracts a whale investor who purchases 136.86B SHIB, highlighting growing confidence in meme coins.
  • BONK’s market cap hits $1.04B with a 10% surge, emerging as a key player in the bullish meme coin rally.

Pepe (PEPE), Shiba Inu (SHIB), and Bonk (BONK) have shown remarkable growth in the cryptocurrency market following the U.S. Securities and Exchange Commission’s (SEC) recent approval of Bitcoin ETFs. This event marks a significant stride in the acceptance and mainstream adoption of digital assets.

 

Pepe (PEPE) Shows Strong Performance

PEPE, a meme coin inspired by the popular internet frog, has leaped 23% in the last 24 hours, signaling a vibrant upturn in the meme coin sector. This surge aligns with the broader market response to the SEC’s nod to Bitcoin ETFs, a decision positively impacting the crypto universe.

Memecoin Rally: PEPE, SHIB, and BONK Rally Post Bitcoin ETF Approval image 0 PEPE/USD 24-hour price chart (source: CoinStats ) 

PEPE’s trading session today highlighted a steady rise from $0.000001, with a current position at $0.000001442. This uptick reflects a 15% increase over the past day and a 20% gain over the last 24 hours.

 

Shiba Inu (SHIB) Attracts New Whale Investors

In a related development, SHIB, another prominent meme coin, witnessed a significant purchase by a new whale wallet, acquiring 136.86 billion SHIB, valued at approximately $1.38 million. The interest from heavyweight investors in SHIB underscores the growing confidence in meme coins. 

Memecoin Rally: PEPE, SHIB, and BONK Rally Post Bitcoin ETF Approval image 1 SHIB/USD 24-hour price chart (source: CoinStats )

Attributable to the whale transaction is the SHIB’s price trend , which has notably eliminated a zero, soaring by 12.82% to $0.00001047, a spike fueled by the overall positive sentiment in the crypto market.

 

Bonk (BONK) Rides the Bullish Wave

BONK, a newer entrant in the meme coin space, has not been left behind in this rally. Its price has surged 10% in the past 24 hours, reaching $0.00001625. During the rally, BONK’s market capitalization soared by 15.09% to $1.04 billion, reflecting the growing interest and investment in the coin. This surge in price and market capitalization demonstrates investors’ increasing confidence and support, positioning BONK as a promising player in the meme coin market. 

Memecoin Rally: PEPE, SHIB, and BONK Rally Post Bitcoin ETF Approval image 2 BONK/USD 24-hour price chart (source: CoinStats )

Moreover, a 33% surge over the past week in BONK’s recent performance and increased trading volume suggest a strong potential for further gains, especially if the SEC approves more Bitcoin ETFs.

 

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Trump and Wall Street: How long will the love affair last?

Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan2024/11/24 03:44

OpenAI could face a bigger problem than Elon Musk’s lawsuit against it

Share link:In this post: OpenAI’s much bigger threat comes from government regulation since it has more power than Elon Musk. If the government chooses to investigate the shift of OpenAI from a non-profit to a Public Benefit Corporation, there will be severe repercussions. The AI company’s dual model has sparked controversies

Cryptopolitan2024/11/24 03:44

Spot Bitcoin ETFs see record $2.42B inflows as Chinese ETFs suffer historic $2B outflows

Share link:In this post: Spot Bitcoin Exchange Traded Funds saw almost $2.5 billion in investments in a single week. However, the Chinese ETFs have seen a series of outflows, amounting to $2 billion worth of withdrawals. The Bitcoin rally helped elevate the spot ETF market, especially with Bitcoin close to reaching $100000.

Cryptopolitan2024/11/24 03:44

The clash of Bitcoin and benchmark stock indexes

Share link:In this post: The S&P 500 is up 25% this year, with financial and cyclical stocks leading, boosted by optimism around a Trump administration and steady economic growth. Bitcoin has surged 40% this month, nearing $100,000, driven by aggressive trading, retail investor enthusiasm, and headlines hinting at government support. MicroStrategy’s stock hit a $100 billion market cap, tripling its Bitcoin holdings’ value, but its wild 32% drop from intraday highs shows cracks in the frenzy.

Cryptopolitan2024/11/24 03:44