Average trading volume of the largest meme tokens has risen by 3000% in a week
The 7-day growth of some coins’ rates exceeded 100%
04.03.2024 - 14:38
594
2 min
0
What’s new? Experts of the analytics company Santiment have recorded a sharp increase in the trading volume of some meme tokens, which was provoked by the increased interest of traders and growth of rates. Thus, the trading volumes of SHIB, PEPE, FLOKI, and BONK coins grew by 3000% on average over the week.
What else is known? Back in late February, Santiment noted that traders began to redistribute profits from bitcoin investments into some of the largest meme tokens by capitalization. As a result, PEPE, FLOKI, and WIF coins rose by 47% or more on February 28 alone.
By the end of the week, a sharp growth was also fixed at DOGE and SHIB. Analysts presented a table showing a direct correlation between the number of mentions of assets in social networks and their rates.
In general, meme coins demonstrated significant growth over the week, which allowed analysts to declare the beginning of the so-called altcoin season. The most notable growth in yield was recorded for PEPE and SHIB: 225% and 126% respectively.
Previously, analyst Jason Pizzino stated that a large-scale altcoin season will come in October 2024. Analyst Nicholas Merten also predicted that the altcoin rally will start soon.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$74 899
BTC
+0.59%
-
Ethereum
$2 847.57
ETH
+9.97%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$0.557104
XRP
+4.43%
-
Dogecoin
$0.194605
DOGE
-4.98%
-
Cardano
$0.372087
ADA
+3.62%
-
Bitcoin Cash
$376.27
BCH
+0.03%
-
Polkadot
$4.15
DOT
+2.19%
-
Litecoin
$70.89
LTC
+1.65%
-
Stellar XLM
$0.098395
XLM
+1.51%