Meme Coin Mania Erupts Again As Solana Token SMOG Is Top Gainer, And WIF And PEPE Hit New All-Time Highs

Updated: 14 March 2024

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Meme coin mania erupted again as new Solana star Smog (SMOG) led the charge and Dogwifhat (WIF) and Pepe (PEPE) soared to new all-time highs.

The Smog price soared 33% as the top gainer among major meme coins by market capitalization, while WIF surged 32% and PEPE 13% to their new record highs.

Dragon-Themed Meme Coin Smog Led The Charge

Top-performing major meme coins in the past 24 hours (Source: CoinMarketCap)

SpaceX and Tesla owner Elon Musk added to the hype around the sector by saying that eventually it should be possible to buy Tesla cars with Dogecoin (DOGE).

“When can you buy Tesla with Dogecoin? At some point, I think we should enable that,” said Musk in response to a question, according to a video on X posted by @dogeofficialceo. “You can buy Tesla merch with Doge, which is cool. So, Dogecoin to the moon.”

The Dogecoin price surged almost 9% as the meme coin sector’s market capitalization climbed 6% to $65.6 billion on trading volume that soared more than 41%.

Meme Coin Mania: WIF And PEPE Coin Set New ATHs

WIF also overtook FLOKI to become the fourth-biggest meme coin by market cap, behind Shiba Inu (SHIB), PEPE, and DOGE. WIF’s market cap soared to more than $3.1 billion, while FLOKI’s stands just above $2.8 billion, according to CoinMarketCap.

Likely powered by its recent listing on Binance, WIF hit a new all-time high (ATH) of $3.26 earlier in today’s trading, before it pared gains to trade at $3.11. Frog-themed PEPE coin also blasted to a new high of $0.00001074 at about 5.45 a.m. EST

Smaller meme coins such as SPONGE, which recently launched its V2 token on Polygon, also did well with a price surge of more than 12%.

🧽 It be like that with $SPONGE sometimes…🧽🚀🌊#SpongeV2 #Crypto #Bullish #100x pic.twitter.com/5c1oH5rovY

— $SPONGE (@spongeoneth) March 13, 2024

Scotty the AI was a standout among meme coin presales as it blasted past $10.35 million raised, most of that in the past week alone. Market rumors said it will halt its presale imminently after extending it on Monday for an additional seven days.