Meme Coins on Ethereum and Solana Soar Up to 50%, One of them is PEPE

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Bittime - Meme coin is token inspired by the phenomenon of internet memes, such as funny images, characters, or slogans. Meme coins usually have no intrinsic value, but they can attract attention and interest from crypto enthusiasts. Some meme coins have even become popular and valuable, such as Dogecoin (DOGE) and Shiba Inu (SHIB).

Recently, several meme coins running on the Ethereum and Solana networks experienced significant price increases, reaching 50% in the last 24 hours. Ethereum and Solana are two blockchain platforms that support the creation and use of crypto tokens, including meme coins.

One of the meme coins that has risen is Pepe (PEPE) , which is inspired by the cartoon frog character. PEPE runs on the Ethereum network and rose by 51%, reaching price levels last seen in May 2024. PEPE currently has a market capitalization of around $1.12 billion.

Another meme coin that is surging is Bonk and Dogwifhat (WIF), which runs on the Solana network. Bonk is a token inspired by dogs, while WIF is a token inspired by dog ​​hats. Bonk rose up to 25%, while WIF rose up to 65%, before experiencing a correction. Bonk and WIF currently have market capitalizations of around $1.2 billion and $1.5 billion, respectively.

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This increase in the price of meme coin occurred at the same time as the price of major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). BTC managed to break the $57,000 level for the first time since November 2023. ETH and SOL are also up more than 8% in the last 24 hours.

Factors that Influence the Increase in Meme Coin Prices

Several factors that drive the increase in meme coin prices are:

• Enthusiasm and speculation from crypto enthusiasts, who see meme coins as a way to profit from the growth of certain blockchain networks.
• Recognition and support from several related parties, such as the Avalanche Foundation, which plans to buy meme coins running on the Avalanche network, as a form of appreciation for the cultural and memetic value brought by meme coins.
• Demand and supply are limited, as some meme coin owners choose to keep or burn their tokens, rather than sell them on the market.

However, meme coins also have high risks, because their prices are very volatile and unstable. Some meme coin owners were also able to take advantage of the price increase to sell their tokens for large amounts, thereby pushing the price down. Therefore, investors must be careful and do research before buying meme coins.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

What is BONK? Meme Coin Phenomenon

What is Coq Inu (COQ)? Meme Coin with a Big Mission

Interesting Facts About WEN, the Meme Coin from Solana

What is Myro (MYRO)? Aspiring Meme Coin

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.