As Bitcoin reached the $50,000 mark, the meme coin market also began to show positive momentum. The most significant weekly changes are seen in the tokens BONK, PEPE, and WIF.
At the time of writing, BONK is trading at $0.00001238, which is 25.1% higher than last week’s figures, according to CoinGecko. The token’s market capitalization stands at $753.8 million.
Given that the current price exceeds the 20-day moving average, the asset may continue to rise.
Meanwhile, the PEPE team concluded a contest in which the top 500 artists received meme coins equivalent to $400 each. Their artworks will be released as NFTs. These non-fungible tokens will be distributed among the top 500 PEPE holders.
Excited to announce that our arts contest with @pepe__wtf has come to an end! Congratulations to all chosen artists and a big thank you to everyone who was involved. ??
You can view the selected pieces at https://t.co/3EFGxLuqwR
$200,000 of $PEPE rewards ($400/ea) will soon… https://t.co/UPiRjHnqmz pic.twitter.com/G4CspU9dHc
— Pepe (@pepecoineth) February 13, 2024
According to CoinGecko, at the time of writing, PEPE’s market value is $0.000001074, with a weekly increase of 19.8%.
The Solana-based meme coin dogwifhat (WIF) received “support” from Los Angeles Lakers forward LeBron James, who was photographed wearing a pink hat (the token’s symbol).
Although James himself made no accompanying statements, the crypto community began to “hype” the image.
LeBron singlehandedly pumped $WIF to $0.40 today
We’re so back pic.twitter.com/2xdkGvwxq1
— Clemente (@Chilearmy123) February 13, 2024
WIF at the time of writing reached $0.37, which is 24.1% higher than yesterday’s price and 87.3% above last week’s figures, according to CoinGecko.
Earlier, ForkLog reported that the owners of 12 wallets earned over $1.3 million from a Pump & Dump scheme with the new dogwifhat meme coin on the Ethereum network.