PEPE, WIF, POPCAT and more rise by double digits

TL;DR

The meme coin sector has flashed green today (May 3), with a market capitalization of more than $50 billion. Dogecoin (DOGE) and Shiba Inu (SHIB) prices are rising on a daily basis, but other assets such as WIF and POPCAT have seen more significant gains. The best performers

The cryptocurrency market returned to green territory after posting substantial losses in recent days. Bitcoin (BTC) briefly rose to $60,000, while Ethereum (ETH) regained the $3,000 level.

The meme coin sector witnessed an even more significant renaissance, with numerous such assets surpassing the aforementioned leaders.

Obvious examples include the frog-themed Pepe (PEPE) and the Solana-based dogwifhat (WIF) and Bonk Inu (BONK), all of which are up by double digits on a daily basis.

Another meme coin that saw even more impressive gains is Popcat (POPCAT). The cat-themed token has surged 25% in the past 24 hours, briefly rising to an all-time high of over $0.60 (according to CoinGecko data). It is currently trading around $0.56.

POPCAT Price, Source: CoinGecko

The entire market capitalization of the meme coin cohort exceeded $50 billion.

How are DOGE and SHIB doing?

The biggest meme coins by market cap, Dogecoin (DOGE) and Shiba Inu (SHIB), are also well in the green, albeit in a more modest way. The former is up 7% daily, while its rival has pumped a little more.

Numerous analysts recently envisioned a bright future for both assets. X user Ali Martinez claimed that DOGE’s recent price drop could be “part of its usual behavior before massive bull runs.” He recalled several occasions in recent years when the value of the meme currency dropped only to rise substantially shortly thereafter.

SHIB also looks poised for a bullish run, given the rise in some bullish indicators related to its ecosystem. Examples are the increase in burn rate and the further development of the Shibarium layer 2 scaling solution.

The network has undergone two major upgrades recently, with the goal of improving the user experience, implementing faster block processing times, and empowering the community of developers and innovators. If you are curious to learn more about Shibarium, watch our dedicated video below:

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