Especially one altcoin is leading the meme coin rally.
While the crypto market has continued its upward trend for months, there have been significant increases in meme coins in particular in recent weeks.
One of the projects leading these increases is Pepe (PEPE). Since its launch, PEPE, which has been the center of attention for investors, has shown a performance increase of close to 900% in just the last 1 month.
Another new altcoin that has garnered attention among the meme coin projects accompanying PEPE is dogwifhat (WIF). In this bull market, the two aforementioned meme coins, as well as stars of past bull markets like Shiba Inu (SHIB) and FLOKI (FLOKI), also showed significant increases.
Speaking to CoinDesk Global, Slater Heil, co-founder and COO of DeFi platform Blueberry Protocol, drew attention to the increases in meme coins on the Ethereum and Solana networks, implying that the altcoin season will strengthen even further:
As Bitcoin and ether rise, there is a spreading effect causing coins deployed on Ethereum and Solana to rise, including meme coins. Investors will take advantage of rising conditions as much as possible, and meme coins are one way they do that. In the short to medium term, I expect a return to ‘fundamentally focused’ altcoins.
