Meme coins, fueled by Bitcoin’s recent rebound, are once again prominent in the crypto market. Leading this surge are PEPE, FLOKI, WIF, and BRETT, each posting gains exceeding 20% on Tuesday. PEPE, an Ethereum-based meme coin, surged 24% to $0.00001187, with daily trading volume doubling to approximately $1.65 billion.
Meanwhile, its market capitalization surged by 23%, surpassing the $5 billion mark and positioning it as the 22nd largest cryptocurrency by market cap.
Floki, a dog-themed meme coin on the Solana blockchain, has surged by 21% in the last 24 hours, now trading at $0.0001872. Its market capitalization is nearing $1.79 billion, accompanied by a daily trading volume of $453 million.
Dogwifhat, represented by the ticker WIF, has surged by 22% to reach $2.16 as of the latest update. It ranks 44th in terms of market capitalization, standing at $2.15 billion with a daily trading volume of $632 million. Despite its recent gains, WIF remains 55% below its peak of $4.85 reached on March 31.
Meanwhile, BRETT, a meme coin launched four months ago, has also risen by 21% and is currently trading at $0.147, according to crypto.news.
During the same period, the meme coin, inspired by a character from illustrator Matt Furie’s “Boy’s Club” comic, saw its daily trading volume surge to $56.6 million, nearly doubling from the previous day.
Additionally, the crypto asset’s market cap increased to $1.39 billion, ranking it as the 61st largest cryptocurrency.
Among other popular meme coin players, Bonk (BONK) and Shiba Inu (SHIB) posted gains of 10% and 6%, respectively, over the past 24 hours. Meanwhile, Dogecoin (DOGE) saw a modest rise of 4% during the same period.
Following Bitcoin’s 3% rise to $64,900 on Tuesday, the meme coin sector surged by nearly 13% over the past 24 hours. Bitcoin’s price range for the day was between $62,359 and $64,988, while its market dominance slightly decreased to 53.64%.
This decrease indicated heightened activity in the altcoin market, contributing to a 1.6% increase in the global cryptocurrency market cap, which reached $2.34 trillion.
The meme coin sector’s market cap also rose to $53.1 billion, reflecting increased investor confidence and interest driven by Bitcoin’s performance. This trend often boosts alternative coins (altcoins), including meme coins, as rising prices attract more investors, creating a positive feedback loop.
