Rally

FLOKI

Shiba Inu

Trillion

Crypto Price Analysis: The cryptocurrency market witnessed a volatile weekend led by the <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> consolidation below $64000. However, the temporary sideways trend benefited the crypto buyers in regaining strength as the BTC price is up 3.11% today currently trading at $65100 with a market cap of $1.27 Billion.
Amid this recent rally, the memecoin market has witnessed a staggering increase in trading activity, according to the latest data analytics from Santiment. In a trend that has caught the attention of crypto enthusiasts and traders alike, popular memecoins such as SHIB, <a href="https://coingape.com/pepe-coin-price-rallies-70-binance-extends-support-for-pepe/" rel="noopener noreferrer nofollow">PEPE</a>, FLOKI, and BONK have seen their trading volumes surge by more than 3,000% over the past week.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Memecoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Memecoins</a>, particularly those that have been trending over the past week, have skyrocketed in trading volume due to surging prices and increased crowd interest. On average, <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a>, <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a>, <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FLOKI</a>, and <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BONK</a> has seen volume rise +3,000% in the past week. <a href="https://t.co/MMHxbMotu0" rel="noopener noreferrer nofollow">https://t.co/MMHxbMotu0</a> <a href="https://t.co/AiIaEbgGIz" rel="noopener noreferrer nofollow">pic.twitter.com/AiIaEbgGIz</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1764553079595401356?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 4, 2024</a>
</blockquote>
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This surge indicates a growing interest from the crowd, likely fueled by a mix of speculative trading and the intrinsic viral nature of meme coins.
According to the latest data from <a rel="noopener noreferrer nofollow" href="https://www.coingecko.com/en/global-charts">Coingecko</a>, the total market capitalization of cryptocurrencies has reached $2.54 trillion, marking a 4.05% increase over the past 24 hours.
Also Read: <a href="https://coingape.com/bonk-pepe-floki-shib-price-reversal-soon-meme-coin-party-to-end/" rel="noopener noreferrer nofollow">BONK, PEPE, FLOKI, SHIB Price Reversal Soon, Meme Coin Party to End?</a>
<h2 id="b-rally-ahead-for-shib-rounding-bottom-pattern-signals-strong-recovery-b">Rally Ahead for SHIB? Rounding Bottom Pattern Signals Strong Recovery</h2>
<figure style="width: 100%" class="wp-caption alignnone"><a href="https://coingape.com/shiba-inu-burn-rate-soars-30000-will-shib-maintain-rally/" rel="noopener noreferrer nofollow"><img decoding="async" src="https://s3.tradingview.com/snapshots/m/MT3ZWe7y.png" alt="BINANCE:SHIBUSDT " width="1946" height="893"></a>
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 Shiba Inu price| Tradingview
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<a href="https://coingape.com/shiba-inu-burn-rate-soars-30000-will-shib-maintain-rally/" rel="noopener noreferrer nofollow">SHIB</a>, the second largest meme cryptocurrency entered an intense recovery trendline in late February when the price rebounded from $0.00000936 support. The reversal bolstered by the boast meme sector, propelled the Shiba inu price to $0.000026 registering a 178% growth.
Moreover, the SHIB Futures Open Interest (OI) has experienced a remarkable surge, as reported by Coinglass, a derivatives market data provider. In two weeks, the SHIB OI metric escalated from $27.23 to $76.84, marking an impressive growth of approximately 182.19%.
<img decoding="async" class="aligncenter size-full wp-image-184019" src="https://coingape.com/wp-content/uploads/2024/03/image_2024-03-04_19-03-15.png" alt="SHIB Futures Open Interest (USD)
" width="1531" height="428" srcset="https://coingape.com/wp-content/uploads/2024/03/image_2024-03-04_19-03-15.png 1531w, https://coingape.com/wp-content/uploads/2024/03/image_2024-03-04_19-03-15-300x84.png 300w, https://coingape.com/wp-content/uploads/2024/03/image_2024-03-04_19-03-15-1224x342.png 1224w, https://coingape.com/wp-content/uploads/2024/03/image_2024-03-04_19-03-15-768x215.png 768w, https://coingape.com/wp-content/uploads/2024/03/image_2024-03-04_19-03-15-150x42.png 150w" sizes="(max-width: 1531px) 100vw, 1531px">
A look at the daily time frame chart shows this rally is developing the rounding bottom pattern, as the chart setup represents the maturity of a downtrend and initiation of sustainable recovery. Under the influence of this pattern, the <a href="https://coingape.com/price/shiba-inu/" rel="noopener noreferrer nofollow">Shiba Inu price</a> may prolong the rally to chase potential targets of $0.00003, followed by $0.000035.
Also Read: <a href="https://coingape.com/markets/shiba-inu-price-hits-22-month-onchain-activity-will-rally/" rel="noopener noreferrer nofollow">Shiba Inu Price Hits 22-Month High Amid Key Onchain Activity, Will Rally Continue?</a>
<h2 id="strong-bonk-coin-sets-new-all-time-high-eyes-0-00006-target-after-bullish-breakout-strong">Bonk Coin Sets New All-Time High, Eyes $0.00006 Target after Bullish Breakout</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/g/G9JMNnkE.png" alt="BYBIT:BONKUSDT Chart " width="1946" height="893">
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 Bonk Coin| Tradingview
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The last correction trend in Solana-based meme cryptocurrency, <a href="https://coingape.com/sponsored/solana-investors-earn-profits-in-bonk-rival-meme/" rel="noopener noreferrer nofollow">Bonk</a>, bottomed in early January above the $0.0000095 support. For nearly two months, the coin price witnessed a sideways trend, projecting the accumulation phase in market investors.
On February 5th, the BONK coin rebounded from the aforementioned support and propelled its value 245% to currently trade at the $0.0000329 mark. Similar to the Shiba Inu coin, the recovery displays the formation of a bullish reversal pattern rounding bottom pattern with neckline resistance at $0.000035.&nbsp;
In the earlier hours today, the <a href="https://coingape.com/price/bonk/" rel="noopener noreferrer nofollow">BONK price</a> recorded 33% growth and reached a new All-time High of $0.00003594. A successful breakout above the pattern’s neckline resistance will intensify the recovery momentum and set the memecoin on a potential target of $0.00006.
Also Read: <a href="https://coingape.com/markets/whats-next-as-bonk-crypto-price-soars-35-alongside-pepe-shib/" rel="noopener noreferrer nofollow">What’s Next As Bonk Crypto Price Soars 35% Alongside Pepe, SHIB</a>
<h2 id="b-floki-inu-price-skyrockets-466-amidst-bullish-reversal-trend-b">Floki Inu Price Skyrockets 466% Amidst Bullish Reversal Trend</h2>
<figure style="width: 100%" class="wp-caption alignnone"><a href="https://coingape.com/floki-meme-coin-reasons-why-floki-price-soars-100/" rel="noopener noreferrer nofollow"><img decoding="async" src="https://s3.tradingview.com/snapshots/p/p71Wmnpz.png" alt="OKX:FLOKIUSDT Chart " width="1946" height="893"></a>
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 Floki Inu Price| Tradingview
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<a href="https://coingape.com/floki-meme-coin-reasons-why-floki-price-soars-100/" rel="noopener noreferrer nofollow">Floki Inu (FLOKI)</a>, a canine-themed cryptocurrency entered its current recovery trend in early February when the price bounded back from $0.0000272. The reversal surged the coin price by 466% to reach the current trading price of&nbsp; $0.000154.
Moreover, Floki’s Total Value Locked (TVL) has soared to a new record of $526 million across its ecosystem, showcasing significant growth and investor interest. This figure is distributed between Floki Staking, with $389.6 million, and FlokiFi Locker, holding $136.9 million.&nbsp;
Floki’s TVL now surpasses the combined TVL of several other top meme coins, indicating a robust and rapidly expanding presence in the DeFi space.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 FLOKI REACHES ECOSYSTEM TVL OF $526M—ANOTHER RECORD HIGH<a href="https://twitter.com/hashtag/Floki?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Floki</a> has just crossed a total TVL of $526M across two of its key ecosystem products, just one day after reaching an ATH of $494 million:
 – Floki Staking: $389.6M – FlokiFi Locker: $136.9M
 This impressive TVL, exceeding… <a href="https://t.co/Qjdu4EYwrR" rel="noopener noreferrer nofollow">pic.twitter.com/Qjdu4EYwrR</a>
 — FLOKI (@RealFlokiInu) <a href="https://twitter.com/RealFlokiInu/status/1764624601911296178?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 4, 2024</a>
</blockquote>
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However, such a rally is less likely to continue if not fueled by some external news or development. The momentum indicator projection and overbought value indicate the <a href="https://coingape.com/price/floki-inu/" rel="noopener noreferrer nofollow">FLOKI price</a> is poised for a minor pullback.
If the Floki price tops the current high of $0.000168, the buyers may face a pullback to $0.0001347, followed by $0.000113.
The post <a href="https://coingape.com/markets/shib-bonk-floki-price-analysis-memecoin-crypto-market-cap-2-5-trillion/" rel="noopener noreferrer nofollow">SHIB, BONK, FLOKI Price Analysis As Memecoin Rally Leads Crypto Market Cap to $2.5 Trillion</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

SHIB, BONK, FLOKI Price Analysis As Memecoin Rally Leads Crypto Market Cap to $2.5 Trillion

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