Meme Coins Brett, Bonk, and Pepe Surge as Market Goes Down

In the midst of a broader market stagnation, meme coins are emerging as top performers, with Brett, a token on the Base chain, leading the way.

While major cryptocurrencies like Bitcoin and Ethereum have remained relatively stable over the past 24 hours, Brett (BRETT) has surged by 7%, Pepe (PEPE) by 6%, and Bonk (BONK) by 4%. This performance places them among the top six gainers in the top 100 cryptocurrencies by market capitalization, with Brett securing the top spot.

Meme coins are doing better 

Over the past week, Brett has also led the pack, soaring by an impressive 51%. To provide context, the second-largest gainer in the same timeframe is Injective (INJ), which saw a modest 10% increase. In contrast, Bitcoin and Ethereum have experienced declines of 4% and 6.5%, respectively, over the past seven days.

Inspired by Matt Furie’s comic series “Boy’s Club”—the same series that introduced Pepe the Frog—Brett is marketed as Pepe’s “best friend.” According to the official website, Brett is a “dancer and loves video games.”

Last week, Brett surpassed a $1 billion market cap after a single-day increase of 24%. Currently, the token boasts a market cap of $1.7 billion, making it the 67th largest cryptocurrency on CoinGecko. It is now on the verge of surpassing its Solana-based competitor, BONK, which is just $200 million ahead in market cap.

Meanwhile, PEPE, a meme coin dedicated to Brett’s more famous friend, has a market cap of $5.6 billion, ranking it as the 23rd largest cryptocurrency and the third largest meme coin.

BRETT, PEPE, SHIB, DOGE, WIF and FLOKI explained

Brett (BRETT):

Brett (BRETT) is a meme coin inspired by the comic series “Boy’s Club” by Matt Furie, the same series that introduced the iconic Pepe the Frog character. Brett is depicted as Pepe’s “best friend” and is characterized as a dancer and video game enthusiast according to the coin’s official website. Recently, Brett has gained significant attention in the cryptocurrency market, especially after achieving a 51% increase in value over a week and surpassing a $1 billion market cap. Positioned on Coinbase’s Ethereum layer-2 network, Brett has become a notable player among meme coins, attracting substantial trading volume and investor interest.

Pepe (PEPE):

Pepe (PEPE) is another meme coin derived from the popular internet meme, Pepe the Frog. With its roots deeply embedded in internet culture, PEPE has leveraged its widespread recognition to become a significant player in the crypto market. Currently, PEPE boasts a market cap of $5.6 billion, making it the 23rd-largest cryptocurrency and the third-largest meme coin. Its popularity and market performance highlight the enduring appeal of meme-based cryptocurrencies among investors and the broader crypto community.

Bonk (BONK):

Bonk (BONK) is a meme coin operating on the Solana blockchain, which sets it apart from many of its meme coin counterparts that are often based on the Ethereum network. BONK has managed to carve out a niche for itself within the competitive meme coin landscape. Despite recent gains, BONK has seen fluctuating performance, similar to other meme coins. Its current market cap positions it just $200 million ahead of Brett, indicating a competitive rivalry between the two. The coin’s connection to the Solana blockchain provides it with unique advantages in terms of transaction speed and scalability, which may appeal to a different segment of crypto enthusiasts.

Dogecoin (DOGE):

Dogecoin (DOGE) is one of the original meme coins, created as a joke in 2013 by software engineers Billy Markus and Jackson Palmer. Featuring the Shiba Inu dog from the “Doge” meme as its logo, Dogecoin was initially intended to be a fun and light-hearted cryptocurrency. Over the years, DOGE has grown significantly in popularity and market value, partly due to endorsements from high-profile figures like Elon Musk. Despite its origins as a meme, Dogecoin has developed a strong community and has been used in various charitable and crowdfunding initiatives, cementing its place as a staple in the cryptocurrency market.

Shiba Inu (SHIB):

Shiba Inu (SHIB) is a meme coin that brands itself as a “Dogecoin killer.” Launched in August 2020, SHIB is based on the Ethereum blockchain, which allows it to leverage the network’s smart contract capabilities. Named after the Shiba Inu dog breed, the coin quickly gained popularity through a combination of clever marketing and community engagement. SHIB has a decentralized exchange called ShibaSwap and has launched additional tokens within its ecosystem, such as LEASH and BONE. Despite recent declines, SHIB remains a prominent player in the meme coin sector, often riding waves of social media hype and community-driven initiatives.

Dogwifhat (WIF):

Dogwifhat (WIF) is a lesser-known meme coin that also draws inspiration from dog-themed internet culture. While not as prominent as Dogecoin or Shiba Inu, WIF has attracted a niche following within the meme coin community. The coin’s name is a playful twist, combining the dog theme with a humorous element. Despite recent performance struggles, WIF has managed to maintain a presence in the market, appealing to investors looking for novelty and high-risk, high-reward opportunities typical of meme coins.

Floki (FLOKI):

Floki (FLOKI) is a meme coin named after Elon Musk’s Shiba Inu dog, which itself is named after a character from the popular TV series “Vikings.” Launched as a community-driven project, FLOKI aims to combine the viral aspects of meme culture with tangible utility through various partnerships and projects. The coin has garnered attention through aggressive marketing campaigns and a dedicated community. Despite a recent decline in value, FLOKI continues to be a notable player in the meme coin space, leveraging its unique branding and connection to Musk’s pet to sustain interest and engagement.