Memecoin Rally: PEPE, SHIB, and BONK Rally Post Bitcoin ETF Approval

• PEPE leaps over 20%, riding the Bitcoin ETF wave for massive gains in the meme coin market.
• SHIB attracts a whale investor who purchases 136.86B SHIB, highlighting growing confidence in meme coins.
• BONK’s market cap hits $1.04B with a 10% surge, emerging as a key player in the bullish meme coin rally.

Pepe (PEPE), Shiba Inu (SHIB), and Bonk (BONK) have shown remarkable growth in the cryptocurrency market following the U.S. Securities and Exchange Commission’s (SEC) recent approval of Bitcoin ETFs. This event marks a significant stride in the acceptance and mainstream adoption of digital assets.

Pepe (PEPE) Shows Strong Performance

PEPE, a meme coin inspired by the popular internet frog, has leaped 23% in the last 24 hours, signaling a vibrant upturn in the meme coin sector. This surge aligns with the broader market response to the SEC’s nod to Bitcoin ETFs, a decision positively impacting the crypto universe.

PEPE/USD 24-hour price chart (source: CoinStats )

PEPE’s trading session today highlighted a steady rise from $0.000001, with a current position at $0.000001442. This uptick reflects a 15% increase over the past day and a 20% gain over the last 24 hours.

Shiba Inu (SHIB) Attracts New Whale Investors

In a related development, SHIB, another prominent meme coin, witnessed a significant purchase by a new whale wallet, acquiring 136.86 billion SHIB, valued at approximately $1.38 million. The interest from heavyweight investors in SHIB underscores the growing confidence in meme coins.

SHIB/USD 24-hour price chart (source: CoinStats )

Attributable to the whale transaction is the SHIB’s price trend , which has notably eliminated a zero, soaring by 12.82% to $0.00001047, a spike fueled by the overall positive sentiment in the crypto market.

Bonk (BONK) Rides the Bullish Wave

BONK, a newer entrant in the meme coin space, has not been left behind in this rally. Its price has surged 10% in the past 24 hours, reaching $0.00001625. During the rally, BONK’s market capitalization soared by 15.09% to $1.04 billion, reflecting the growing interest and investment in the coin. This surge in price and market capitalization demonstrates investors’ increasing confidence and support, positioning BONK as a promising player in the meme coin market.

BONK/USD 24-hour price chart (source: CoinStats )

Moreover, a 33% surge over the past week in BONK’s recent performance and increased trading volume suggest a strong potential for further gains, especially if the SEC approves more Bitcoin ETFs.