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Meme coin frenzy! Both new and old generation meme coins surge together, with FLOKI/SHIB leading the way in a single-day massive spike.

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Meme coin frenzy! Both new and old generation meme coins surge together, with FLOKI/SHIB leading the way in a single-day massive spike.

Bitcoin briefly touched 64K and ETH hit 3500 before their prices settled around 62K and 3400 respectively; during the same period, meme coins saw significant increases, entering the typical meme season of a bull market. Dog-themed meme coins FLOKI and SHIB led the way with gains of 111% and 82% respectively in the past 24 hours. On 3/2, meme coins dominated the list of top gainers among the top 100 cryptocurrencies.

New and Old Generation Meme Coins Soar Together: FLOKI Leads the Dog Family, New Generation PEPE and WIF Surge

Last Bull Market Memes: FLOKI/SHIB

In the last bull market in 2020-2021, SHIB and FLOKI emerged, following the traditional meme coin DOGE in 2013, showcasing remarkable gains in the meme season of 2024. FLOKI has surged by 323% in the past 30 days, while SHIB has risen by 155%.

Current Bull Market Memes: PEPE/WIF

During this current bull market, the new generation meme coin PEPE from April 2023 has surged by 442% in the past 30 days, with nearly 70% increase on 3/2. Another meme coin of the 2023 generation, dogwifhat WIF, has surged nearly 500% in the past 30 days and is based on the Solana blockchain, distinguishing it from other meme coins.

Additionally, Bonk BONK, which gained popularity due to Solana's mobile airdrop, also originated from the Solana blockchain. Created in the bear market era at the end of 2022, it is also listed in today's meme surge rankings.

BitMEX founder continuously recommends WIF recently

Ancient Meme DOGE Can't Keep Up with Young Memes

Created in 2013, the meme coin DOGE, after experiencing multiple bull and bear cycles, has now made it to the top ten in market capitalization, representing the classic meme coin. However, its gains in this meme coin frenzy are not as impressive as before, significantly lagging behind the likes of FLOKI/SHIB and other new generation coins.

Meme Coins Born Outside of Memes: LUNC/BCH/APE

On 2/3, meme coins dominated the top 100 gainers list, with some non-meme coins that also possess meme-like qualities, perhaps testifying to their memetic nature.

Examples include Terra Classic LUNC, which suffered from the LUNA/UST incident, the ancient Bitcoin fork coin Bitcoin Cash BCH, and ApeCoin APE founded by the BAYC community. These coins were once famous but lack practical ecosystems and applications.

Are Meme Coins a Sign of the Bull Market's End?

During periods of meme coin frenzy in the past, it often signaled the end of a bull market, sparking discussions. However, the idea of the end of a bull market may not convince everyone as Bitcoin has yet to reach new highs. Both the Bitcoin and Ethereum communities still have many potentials to explore, especially in the context of non-Bitcoin ETF trading days, where market factors are not fully developed.

Regardless, interesting and low-priced meme coins often attract many investors; however, due to the unpredictability of their fluctuations, risk management should be taken into consideration.