ETH Memecoins Going Viral With $6.4 bn Traded In February
Ethereum Memecoins, experienced a 60% increase in trading volumes in February, reaching over $6 bn. These coins, with market capitalisations of over $1 billion, saw a surge in prices, with Pepe, Shib, and Doge experiencing significant increases.
Ethereum, MOG, and GROK’s smaller market caps rose 920% and 172% in February from January. Memecoins’ price performance is based on how well the meme resonates with crypto traders.
In December, Solana dominated memecoin trading, but now volumes have shifted back to the Ethereum mainnet. Memecoins have also been successful on other chains, with Solana’s dogwifhat, WIF, reaching an all-time high and Base’s native memecoin, Toshi, reaching an all-time high.
(With inputs from Shikha Singh)
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