Memecoins such as #PEPE‏ , #DOGE , #shib🔥 continue to rally, with #Dogwifhat #wif reaching

new all-time highs

Ethereum meme coin Pepe and its Shiba Inu-themed Solana competitors Dogwifhat and BONK have posted some huge gains while riding the wave of Bitcoin's 11% gain past $56,000.

Pepecoin (PEPE) has leapt 36% in the past 24 hours and is trading for $0.00000215 at the time of writing. That's an 80% gain from just a week ago and the highest PEPE has been since May 2023, according to CoinGecko data. At the time, PEPE had just entered the top 100 digital assets with a market capitalization of $540 million.

To put in perspective just how much the crypto market has grown since then, PEPE has seen its market cap almost double to $900 million and ranks as only the 102nd largest coin.

As the price has skyrocketed, a number of PEPE holders have cashed in. Six different wallets account for roughly $4 million worth of PEPE tokens sold today on Binance today, netting the holders about $2 million worth of profit.

Meanwhile, the Shiba Inu-themed meme coins on Solana have seen big gains as well.

Dogwifhat (WIF) has gained 46% in the past day and is currently trading for $0.5634. The meme coin has been in new all-time high territory since yesterday, when it surpassed $0.45 yesterday afternoon.

And BONK, which was originally airdropped to Solana developers in 2022 and then saw a massive surge in December that culminated in the token setting an all-time high of $0.000025, has increased 16% since this time yesterday. At the time of writing, BONK is trading for $0.00001445, according to CoinGecko data