The post Shiba Inu, Pepe, Dogwifhat soar amid meme coin ‘supercycle’ appeared on BitcoinEthereumNews.com.

Shiba Inu, Pepe, and Dogwifhat led the top weekly market gainers as the total meme coin market cap rose 25%, surpassing $55 billion. Leading the weekly gainers, Shiba Inu (SHIB) surged 39% to $0.00001968 as the demand for meme coins helped it break past a key resistance level at $0.00001940. Its market cap rose from $8.53 billion to $11.63 billion within the week. Ethereum-based Pepe (PEPE) followed next on the list as it rose 36.5% over the past week, trading at $0.00001112 at press time. The meme coin’s market cap rose to $4.67 billion at press time, reaching highs last seen at the beginning of August.  Dogwifhat (WIF), which resides on Solana, also joined the top gainers with a 35.4% gain, trading at $2.30 when writing, with its market cap flying past the $2 billion mark. Even Dogecoin (DOGE), the first and most liquid meme coin with a market cap of $18 billion, joined the rally. Over the past seven days, Dogecoin was up more than 16%. The social sentiment surrounding these tokens remained overwhelmingly bullish, as reflected on CoinMarketCap. Market reactions On X.com, market observers anticipate the start of a meme coin season as Bitcoin’s market dominance waned. Pseudonymous trader Bluntz observed that multiple meme coins are gaining strong upward momentum, signaling what he describes as the start of a “memecoin supercycle” and advising his followers not to “sell too early.” memecoin supercycle is real, the problem was most people’s timing was just way off. choose your fighters, get into position and chill, don’t sell too early. — Bluntz (@Bluntz_Capital) September 27, 2024 BitMEX founder Arthur Hayes also chimed in on the hype, claiming, “It’s time for a meme coin breakout.”  In subsequent posts, he actively engaged with the community, asking for recommendations and shilling several meme coins as…

---

Filed under: News - @ September 28, 2024 4:27 pm