Traders in the world of memecoins have found themselves embroiled in a battle of the animals, as tokens inspired by frogs, dogs, and cats experience massive surges in value. Over the past month, these themed tokens have seen their prices skyrocket by thousands of percentage points as the overall cryptocurrency market reaches new all-time highs.
In the past 24 hours alone, dog-themed coins have generated an impressive $24.2 billion in trading volume. The leaders in this category are Dogecoin (DOGE) and Shiba Inu (SHIB). On the other hand, cat-themed coins, such as the Solana-based Popcat (POPCAT), have generated a trading volume of $63.4 million within the same timeframe, according to data from CoinGecko.
The most successful dog-themed token of the past month is dogwifhat (WIF), a memecoin based on the Solana blockchain. WIF has seen a staggering 620% increase in value, rising from $0.22 on February 4th to $1.55 at the time of writing this article. Since its launch on November 20th, WIF has achieved returns of over 100,000%, although only a few traders would have been fortunate enough to realize such gains.
In the realm of cat coins, Popcat (POPCAT), also based on Solana, has been the top performer. Over the past 30 days, Popcat has seen gains of over 1,400%, climbing from $0.006 to $0.10.
Dogecoin has also experienced a sudden surge in value over the past week, with a gain of just over 117% in the last seven days. Similarly, Shiba Inu has seen gains of over 323% within the same timeframe.
Outside of the realms of cats and dogs, frog-themed tokens have also seen strong performance. The leading memecoin in this category is Pepe (PEPE). Despite being declared “dead” after a significant decline from its previous all-time high in May 2023, Pepe has seen a rapid increase in price and trading volume since February 25th. On March 2nd, Pepe surpassed its previous all-time high of $0.00000372 and has since doubled in value. At the time of writing, Pepe is being traded at $0.00000802, representing a gain of 781% in the last 30 days. In the past 24 hours alone, Pepe has generated a trading volume of over $4.2 billion.
Overall, the memecoin market is experiencing a surge in animal-themed tokens, with frogs, dogs, and cats leading the way. These tokens have seen astronomical gains in value, captivating traders and investors alike.