Time for Meme Coins Show Up: WIF, PEPE, SHIB, and FLOKI Price Increases Follow Bitcoin Trends

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Bittime  - The crypto world is once again abuzz with a phenomenal surge in crypto asset prices, driven by meme coins known for their high volatility and passionate communities. 

While Bitcoin, the king of crypto, seems stagnant and even experienced a slight correction below $62,000, meme coins such as Dogwifhat (WIF) , Shiba Inu (SHIB), and Floki Inu (FLOKI) actually stole the attention with fantastic price increases of up to hundreds of percent in a week final.

Overall, global crypto market capitalization has indeed decreased slightly on a daily scale. However, in a weekly perspective, the crypto market capitalization actually increased by more than $100 billion, indicating the return of the crypto market after a period of correction.

Meme Coins Shine Again

The upward trend in crypto asset prices seems to be happening again, and this time it is not only dominated by old players. Crypto assets that were previously less popular, such as meme coins, are now skyrocketing and attracting the attention of investors. Dogecoin (DOGE), the most famous meme coin, managed to shoot up 70% in a week and returned to the ranks of the 10 largest crypto assets based on market capitalization. The price also jumped to close to $0.14.

However, DOGE's main competitor, namely Shiba Inu (SHIB), managed to outperform DOGE with a more significant weekly price increase, namely 130%. Various speculation and positive sentiment also pushed the SHIB price up. [additional references about SHIB price increases can be found here].

Meanwhile, another meme crypto asset, BONK , also experienced a 100% price increase in the same period. However, the increase looks 'stunted' compared to PEPE, FLOKI, and especially WIF.

• PEPE skyrocketed 240% and is now at its highest level in recent months.
• FLOKI managed to return to the top 100 altcoins with a weekly price surge of 270%.
• WIF became the main star with a fantastic price increase of almost 400% in a week and is now valued at around $1.7.

This upward price trend is not only occurring in meme coins, but almost all crypto assets have experienced impressive increases in the last seven days, as can be seen in the graph below. This has helped drive the overall crypto market capitalization to increase by $120 billion since last Sunday.

Source: Coinmarketcap.com

Also Read How to Buy Crypto:

Bitcoin Corrected Slightly

Bitcoin, as a crypto pioneer, closed February with the biggest monthly gain in its history. The price shot from $42,000 to $64,000 before then correcting to $62,000.

The achievement brings Bitcoin just $5,000 below the all-time high it reached in mid-February. Over the past week alone, Bitcoin experienced a significant increase from $51,000 to $64,000.

However, in recent days, Bitcoin appears to be stagnant and has not managed to break the $62,000 level. In fact, in the last 24 hours, Bitcoin experienced a slight correction and is now below that level.

Nonetheless, the weekly price increase of 19% keeps Bitcoin's market capitalization firmly above $1.2 trillion, placing it among the 10 largest financial assets by market capitalization. However, its dominance over altcoins slightly decreased by 1% and is now below 50% according to CoinGecko.

Meme Coin Comparison: Which is the most interesting?

Shiba Inu (SHIB) Price Today

Source: Bittime.com

On March 4, 2024, the price of Shiba Inu (SHIB) was at $0.00002364 or the equivalent of IDR 0.37 per coin, up 6.49% in 24 hours, 139% in the last week and 152% in the last 30 days.

Pepe (PEPE) Price Today

Source: Bittime.com

On March 4, 2024, the price of Pepe (PEPE) was at $0.0000065451 or the equivalent of IDR 0.10 per coin, up 60.23% in 24 hours, 361% in the last week and 580% in the last 30 days.

Dogecoin (DOGE) Price Today

Source: Bittime.com

On March 4, 2024, the price of Dogecoin (DOGE) was at IDR 2,511 per coin, up 13.26% in 24 hours, 83.22% in the last week and 90% in the last 30 days.

Floki Inu (FLOKI) Price Today

Source: Bittime.com

On March 04, 2024, the price of Floki Inu (FLOKI) was at 2,511 per coin, up 11.22% in 24 hours, 299% in the last week and 420% in the last 30 days.

Conclusion and the Uncertain Future of Meme Coins

The fantastic price increase experienced by meme coins was greeted with great enthusiasm by its supporters. However, rapid price spikes are also often followed by deep corrections, leaving the future of meme coins such as WIF, SHIB, and FLOKI still shrouded in uncertainty.

High volatility is the main characteristic of meme coins. Without any utility or strong fundamentals, meme coin prices are highly susceptible to market manipulation and speculation. Therefore, investors need to be careful and wise before deciding to invest in meme coins, considering the relatively high risks.

In addition, the ongoing trend of increasing prices is not necessarily sustainable. Strong fundamental conditions and widespread adoption of crypto in everyday life play an important role in determining

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 Bappebti. 

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. 

Learn  Complete Guide How to Buy Crypto on Bittime .

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

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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.