Over the past week, popular meme tokens have soared by dozens and even hundreds of percent: DOGE (+69.6%), SHIB (+134.5%), PEPE (+276.1%), BONK (+117.8%), WIF (+334.4%), FLOKI (+254.4%).
Most of these assets also saw significant growth over the past day. PEPE and WIF reached new all-time highs at $0.000004864 and $1.33, respectively. The market capitalizations of these projects exceeded $1.9 billion and $1.3 billion.
Meanwhile, DOGE and SHIB are trading significantly below their ATH—at $0.14 (-80.3%) and $0.00002234 (-74.2%), respectively.
In early February, the meme coin sector showed positive dynamics amid Bitcoin’s rise. However, this was followed by a withdrawal of funds from the segment, reducing its capitalization to $22.6 billion. Analysts attributed this to investors shifting their focus to Bitcoin and Ethereum.
On Wednesday, February 28, digital gold tested the $64,000 level, while the second-largest cryptocurrency by market cap rose above $3,500. The growth of leading crypto assets did not hinder the influx of funds into meme tokens.
Earlier, on February 29, an unknown investor sold all accumulated 1.97 trillion PEPE for $6.07 million, netting a profit of $3.49 million.
In the same month, the owners of 12 wallets earned over $1.3 million through a Pump & Dump scheme with WIF.