PEPE, the 3rd largest meme coin after Dogecoin and Shiba Inu, continued its recent rise today. PEPE, which has risen more than 200% in the last week, rose to $ 0.0000036.

On Binance, the world’s largest exchange, the volume in PEPE’s USDT pair is around $670 million as of the time of writing.

The rise in PEPE has also left leveraged traders in the wrong corner. The value of short positions liquidated in the last 24 hours exceeded $6.3 million.

Is the meme coin craze starting?

Meme coins have recently made themselves known with the rises in some Solana-based tokens. BONK in this category increased by 50% and WIF by 130% in the last 1 week.

FLOKI, also issued on Ethereum and one of the most well-known meme coins, has increased by 20% in the last 24 hours and 80% in the last week.

MAGA, a meme coin issued on the name of US presidential candidate and former president Donald Trump, rose 30% in the last 24 hours and 170% in the last 1 week.

Will Doge and Shiba join in?

DOGE and SHIB, the two coins that were snapped up at the level of craze of an era, seem to be lying in wait for the rises. Dogecoin increased by 19% and Shiba Inu by 18% in the last 1 week. The rises in the two tokens have been limited compared to other meme coins.

According to data on Coingecko, the total market capitalization of meme coins is about to approach $30 billion. The value increased by 17% in the last 24 hours to $28.4 billion.