Memecoins rise: PEPE leads gains with returns exceeding 600%

The memecoin market was fervent with significant increases in the face of the rally led by the main meme cryptocurrencies. These types of tokens began a bull run in recent days, recovering magnificently.

The bullish rally in memecoins continues to reach impressive heights, with the cryptocurrency Pepe (PEPE) leading the gains. 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%.

“Memecoins performed extremely well this month, with $PEPE leading the way with monthly returns of over 600%,” the analysis noted.

Recently, PEPE was one of the cryptocurrencies that experienced an increase in its trading volume due to rising prices and increased public interest. In the last 30 days alone, the token has seen an impressive increase in its price of 846.3%.

At the time of publication, the PEPE price was quoted at US$0.058698, up 2.0% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$3,131,539,930. The PEPE price has increased by 105.6% in the last seven days.

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

Cryptocurrency analytics platform Santiment highlighted in a recent analysis that as cryptocurrency markets remain strangely stable over the past 24 hours, the push and pull between Artificial Intelligence (AI) coins and memecoins has resumed.

The analysis observed the growth of the Floki (FLOKI), Pepe (PEPE) and Dogwifhat (WIF) tokens, recording an impressive price increase. The FLOKI cryptocurrency led gains in the memecoin market among the top 100 crypto assets on March 8.

At the time of publication, Floki’s price was quoted at US$0.0002581, up 13.8% in the last 24 hours.

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