The cryptocurrency market is witnessing a solid bullish reversal today, with Bitcoin’s surge past $100K reigniting a frenzy among meme coins. Leading the charge, PEPE has skyrocketed by an impressive 28%, while heavyweights Dogecoin (DOGE) and Shiba Inu (SHIB) have each climbed 8%, signaling a robust revival in the meme coin sector.
With this push, the market cap of the meme coin sector has surged to $62.52 billion—an increase of nearly 12% in the past 24 hours. The trading volume for meme coins have also soared 129%, currently sitting at $13.15% – as per CoinMarketCap data.
PEPE, the frog-themed token, has emerged as the standout performer, with its 30% surge driven by a 240% spike in trading volume, reaching $2.36 billion in the last 24 hours. The breakout in PEPE follows a tremendous increase in open interest, which hit $531 million, nearing its all-time high.
On the other hand, Dogecoin—called the original meme coin—saw an 8% spike with its trading volume surge 144% to $1.8 billion, pushing its market cap over $30 billion. Breaking above a descending trendline resistance, DOGE’s 8% gain reflects renewed whale activity and retail interest.
Similarly, Shiba Inu has rallied past its 50-day SMA, with trading volume up 140% to $383 million and a market cap of $8.62 billion. SHIB’s technical momentum, bolstered by burn initiatives and Shibarium’s growth, points to potential resistance tests near the $0.00001600 price mark.
Other Notable pumps in meme coins include, TRUMP, PENGU and FOLKI’s 15% while FARTCOIN has surged nearly 20% in the past 24 hours. One of the eye-catching movers is BRETT, which has surged by 30% in the past 24 hours, following PEPE’s rally.
Also read: Ethereum Surges 18% to Cross $2,200 After Pectra Upgrade
