BONK, PEPE and Dogwifhat Leading Meme Coin Rally

BONK, PEPE and Dogwifhat Leading Meme Coin Rally
Guess which meme coin just got an unexpected boost from LA Lakers' LeBron James.
By Stacy Elliott

3 min read

Feb 13, 2024



It's often true that digital assets go where Bitcoin leads them, but Pepecoin, BONK and Dogwifhat are overclocking for the meme coin segment.

But first, a very necessary disclaimer: Even the most popular meme coins can be extremely volatile. A token that's up one day can crash to zero the next. Investors should proceed with caution.

At the time of writing, Solana meme coin BONK has seen a 7% grain since yesterday. It's currently trading for $0.00001284—which is 27% higher than it was this time last week. Its $833 million market capitalization makes it the 101st largest coin tracked by CoinGecko. That's a far cry from the 69th place it was sitting at just before Christmas, after Coinbase announced that it would list BONK on its exchange.

BONK last saw its market capitalization inch past $1 billion in January, just after the SEC approved spot Bitcoin ETFs to begin trading in the U.S. Since then, the market cap has sagged to $786 million. Its latest gains move the meme coin's price beyond its 20-day moving average—typically treated as a sign that an asset could be getting ready to rally.

Meanwhile, the team behind PEPE just wrapped up an art contest held in collaboration with Pepe.wtf. The top 500 artists will receive $400 worth of PEPE tokens and have their art included in an upcoming NFT mint. The spike in price and trading volume for the frog-themed meme coin might have something to do with the next step. The top 500 PEPE holders—excluding exchanges—will receive free mints of the new NFT collection on Ethereum.


At the time of writing, PEPE is trading for $0.000001098. That marks a 10% gain from this time yesterday and a 22% gain from last week, according to CoinGecko data.

Dogwifhat, a relatively new Solana meme coin, has gotten an unexpected—and likely unintentional—boost from none other than the NBA's Los Angeles Lakers power forward LeBron James.

Keep in mind that James hasn't said anything to suggest he's aware of the pink hat's link to the Shiba Inu meme that launched Dogwifhat. But Crypto Twitter seized on the opportunity to spin up a bunch of memes. The frenzy has sent WIF to $0.39 at the time of writing, 36% higher than this time yesterday and double its price from the same time last week.

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8,200,000 Residents in California Will Play a Major Role in Determining Future of Crypto, Says Coinbase
Daily Hodl Staff February 13, 2024

California’s digital asset holders will play a big role in the future of the industry, according to top US crypto exchange Coinbase.

In a new company blog post, Coinbase notes that a 2023 survey from business intelligence firm Morning Consult indicates 8.2 million residents in California (27% of the state’s adult population) own digital assets.

Nearly 80% of those digital asset holders say they would be more likely to support pro-crypto political candidates, according to new polling by research firm Toluna, which was paid for by Coinbase.

Explains the exchange,

“In California, 78% of crypto owners believe policymakers should be supporting new, innovative, and disruptive technologies…

They also would support candidates who say that a strong US crypto industry will help future generations get ahead and increase access to wealth-building tools that the traditional financial system does not provide to many Americans.”

The Toluna polling shows 40% of California crypto owners are aged 18-34. Coinbase says younger generations in the US have a larger appetite for digital assets than older generations.

“They grew up during the internet age, and are comfortable adopting innovative technologies that make their lives easier…

They want to see innovation continue so that they can move their money efficiently and autonomously without being weighed down by legacy financial institutions that defined how their parents and grandparents managed their finances.”

Coinbase also says that nationally, the majority of younger generations in the US favor candidates who support cryptocurrency.

“Nationally, a majority (51%) of Millenials and Gen Z adults say they are likely to support crypto-friendly candidates in 2024. These voters will make up a vocal minority in the next election, and by 2028, younger voters will represent a majority of America’s voters.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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