Pepe, BONK, and WIF are the latest meme coins to join the $1 billion club

Among recent market caps, Pepe, BONK, and Dogwifhat (WIF) are the latest meme coins to surpass $1 billion in market cap. In fact, the memecoin market currently only has six coins in the respected club. Plus, the latest additions are quickly adding to the competition.

In addition to these three newcomers, the $1 billion meme coin club also includes mainstream currencies such as Shiba Inu (SHIB), Dogecoin (DOGE) and Floki Inu (FLOKI), according to CoinMarketCap. However, these three latest entries have catapulted themselves into relevance through the recent bull run, with PEPE, BONK, and WIF all joining the $1 billion meme coin club

At the beginning of 2024, digital asset investors have high hopes. When the spot Bitcoin ETF was approved in January, the response from the industry was very positive. Over the past few weeks, that excitement has finally started to pay off, with huge gains on a number of assets coming to fruition.

Bitcoin (BTC) leads the way, surpassing a new all-time high of $69,000. However, one development that surprised many was the performance of some unlikely meme coins. Additionally, these memecoins—Pepe, BONK, and WIF—have all entered the exclusive $1 billion club. In fact, the three aforementioned tokens join SHIB, DOGE, and FLOKI as the only six memecoins with a market capitalization of over $1 billion. Pepe's market capitalization is $3.6 billion, while Bonk's market capitalization currently stands at $2.1 billion. Finally, Dogwifhat (WIF) bursts onto the scene with a market cap of over $2 billion.

The market caps of these three meme coins have soared, and these increases clearly demonstrate the importance of these assets over the past week.

All three meme tokens entered the $1 billion market cap club within a week. However, the biggest increase in value is undoubtedly WIF. The meme coin’s market capitalization rose from a market cap of $300 million to its current level in just three weeks. Only time will tell if these three coins can continue their current trajectories.