Memecoins FLOKI and PEPE record price explosions while BTC and ETH reach peaks

The memecoins Floki (FLOKI) and Pepe (PEPE) have soared in price in recent days, recording price explosions on March 8 while the two biggest cryptocurrencies on the market, Bitcoin (BTC) and Ethereum (ETH), reached price peaks in the same day.

In a move that has captured the attention of enthusiasts and financial analysts around the globe, Bitcoin (BTC) has scaled new heights, surpassing the impressive $70,000 mark. The largest cryptocurrency on the market set another new all-time high on March 8, reaching a market value of up to US$70,199 on the Coinbase exchange. Ethereum, in turn, rekindled excitement by surpassing the US$4,000 mark, a feat that had not been seen since December 2021.

Amidst this, the price of memecoins has revived, with FLOKI and PEPE recording notable gains yesterday. According to a survey shared by the IntoTheBlock platform, on March 8, the Pepe memecoin managed to record a monthly return of more than 600%. FLOKI also drew attention due to its growth of more than 300%, according to the survey.

Memecoins performed extremely well this month, with $PEPE leading with more than 600% monthly returns.
Explore our dashboard for more memecoin insights: 🔗https://t.co/n29ohjsRRM pic.twitter.com/NlY5ZGTuCH

— IntoTheBlock (@intotheblock) March 8, 2024

At the time of publication, the price of FLOKI was quoted at US$0.0002581 with an increase of 13.8% in the last 24 hours. Memecoin’s trading volume was US$2,039,274,856 in the same period. In just one week, the price of FLOKI increased by 120.4%.

PEPE, in turn, was trading at US$0.059143, up 1.5% in the last day. The asset’s 24-hour trading volume was $2,800,296,604. In the last seven days, the PEPE memecoin has increased its price by 110.9%.

The monthly data reveals the impressive growth of the two cryptocurrencies, driven by the market’s upward trend in the last month. FLOKI has seen a price appreciation of 805.2% in the last 30 days, while PEPE has increased by 843.1% in the same period.

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