Dogecoin, PEPE, Shiba Inu, and FLOKI: Meme Coins on the Plus Side

Led by Bitcoin (BTC), the crypto market rallied strongly over this week. Large meme coins such as PEPE, Dogecoin (DOGE) and Shiba Inu (SHIB) also benefited from this. FLOKI even made a 100 percent weekly gain.

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Meme coins mark one of the most controversial divisions of the crypto industry

Mostly provided with cute animal pictures, representatives like Dogecoin (DOGE) have become a symbol for highly speculative cryptocurrencies – because all of the meme coins cannot show real purposes. But the speculative nature of Shiba Inu, PEPE and Co. has made many a risk-taking investor rich, despite all the criticism. This week, Bitcoin (BTC) has experienced its momentum, and in the wake of the cryptocurrency, the Meme-Coins were also able to make strong gains. In detail:

• Dogecoin has made almost 20 percent plus over the last seven days and thus confidently defends its place among the ten strongest capital cryptocurrencies in the world.
• PEPE cleaned up a black chapter of its past during the boom week, which proved to be perfect timing. The bottom line is a good 80 percent weekly gain for PEPE.
• Shiba Inu, the self-proclaimed dogecoin killer, remains in waiting with a 12 percent weekly gain.
• FLOKI recorded an incredible 100 percent weekly increase. Here, the announcement of a staking program for a sister token provided an additional boost.
• After its dream start at the turn of the year, BONK had already fallen into oblivion. Now the data service Coingecko has recorded a weekly increase of 185 percent for BONK – and even experts have no conclusive explanation for this price explosion.

Conclusion: Volatility of Meme coins like PEPE and DOGE hugely high

As an investor, you have probably already formed an opinion about meme coins. Nevertheless, it is worth remembering that compared to the 17 percent weekly increase in Bitcoin, PEPE, FLOKI, Dogecoin and Co. have almost consistently beaten the mother of all cryptocurrencies in price development over the last seven days. But this is immediately put into perspective when looking at the distance to previous all-time highs.

Bitcoin is still 50 percent short of its best times. For Dogecoin and Shiba Inu, on the other hand, it is 90 percent, for FLOKI and BONK 88 percent and finally for PEPE 70 percent. In the medium and long term, the meme coins have not been able to keep up with Bitcoin in terms of performance, and the recent price jumps should not hide that fact.

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(Featured image by rc.xyz NFT gallery via Unsplash)

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