Pepe (PEPE) and Bonk (BONK) memecoins have been making waves today after experiencing double-digit increases and reaching new highs, coinciding with Dogecoin’s surge to levels not seen since 2021, alongside Bitcoin’s recent reach of an all-time high of $91,886.
Dogecoin (DOGE) has been steadily climbing the charts recently, particularly following Donald Trump’s victory in last week’s US presidential election. Many pro-crypto candidates have also taken seats in the Senate.
However, in the past 24 hours, the DOGE price has surged by more than 12.86% and is presently trading at $0.4198, a price point not reached since 2021.
Read more: Dogecoin Price Prediction: Veteran Trader Sees DOGE Hitting $0.7
While the excitement from the recent American elections is still settling, the president-elect has finally addressed establishing a new federal department known as D.O.G.E., which stands for Department of Government Efficiency. Elon Musk, the well-known Dogecoin supporter, and Vivek Ramaswamy are set to lead this newly formed department.
President Donald J. Trump announces the Department of Government Efficiency (DOGE) — headed by @elonmusk and @VivekGRamaswamy pic.twitter.com/Ya2o45qlV8
— Trump War Room (@TrumpWarRoom) November 13, 2024
The duo will spearhead an initiative to overhaul the federal bureaucracy and eliminate unnecessary expenditures from the $6.5 trillion federal budget. These positive developments keep pushing Dogecoin’s market capitalization to new heights, with an impressive trading volume of over $27.79 billion over the last 24 hours.
Pepe (PEPE) reaches a new all-time high
The Pepe coin has reached a new all-time high of $0.00001944 today, nearly doubling in value over the past week and experiencing a 39.82% increase within the last 24 hours alone.
PEPE/USD Chart | TradingView
Pepe’s market capitalization (PEPE) is currently at $7.7 billion, and its trading volume exceeded $8.9 billion in the last day.
Recently, the global memecoin market has performed well, but the primary factor driving the significant rise in the PEPE coin today is its new listing and trading availability on Robinhood, as revealed by the crypto exchange on Wednesday.
GM. Solana ($SOL), Pepe ($PEPE), XRP ($XRP), and Cardano ($ADA) are now available to trade on Robinhood.https://t.co/CBj6uKDkAZ pic.twitter.com/48wXE9zs8V
— Robinhood (@RobinhoodApp) November 13, 2024
The Robinhood US platform also re-listed other major cryptocurrencies, including Solana (SOL), Cardano (ADA), and Ripple (XRP).
Moreover, Coinbase has officially added Pepe Memecoin to its platform, providing trading opportunities for millions of users. This addition to the largest centralized crypto exchange in the United States has also contributed to the rise of PEPE Coin’s value.
Source: X
Bonk token spikes amid Binance US listing
The Bonk (BONK) memecoin has risen in the past 24 hours, reaching $0.0000374, a price point not achieved since May. It has experienced a surge of 71% over the last week and 21.52% in the previous 24 hours. The Bonk token is only 16.07% shy of its all-time high of $0.00004704 from 8 months ago.
BONK/USDT trading chart | TradingView
This upward movement began following the listing of the Solana memecoin by Binance US, which opened deposits on November 12, with trading for the BONK/USDT pair starting early today.
Deposits for $BONK are now open on https://t.co/AZwoBOgsqS!
Trading on the BONK/USDT pair will begin on November 13, at 6 a.m. EST.@bonk_inu is a dog-themed meme coin and NFT project, built on Solana and governed by the BONK DAO.
Read more: https://t.co/7Qr8u8XxEb pic.twitter.com/9613QFX6TN
— Binance.US 🇺🇸 (@BinanceUS) November 12, 2024
Bonk currently ranks among the leading memecoins in the market, gaining from the recent uptrend in the meme coin sector, which has now reached a total market capitalization of $120 billion.
The outlook for BONK remains positive, supported by a favorable funding rate that indicates traders are primarily anticipating price increases. Additionally, analysts suggest that Bonk’s price trajectory could keep rising, particularly if it manages to turn resistance levels into support.
Read more: Best Solana (SOL) Memecoins to Watch in 2024
