Markets
PEPE, FLOKI, WIF and BRETT rose 20%
Meme coins are once again at the forefront of the crypto market, driven by Bitcoin’s recent rally, which is positively impacting major crypto categories. PEPE, FLOKI, WIF and BRETT are leading this resurgence, with each of them recording daily gains of over 20% on Tuesday.
Pepe (PEPE), an Ethereum-based meme coin, is up 24% in the past day and is trading at $0.00001187. In the same period, the daily trading volume of crypto assets has doubled in the past day, hovering around $1.65 billion.
PEPE Price Chart | Source: crypto.news
Meanwhile, its market cap has increased by 23%, surpassing the $5 billion mark and ranking it 22nd among the largest cryptocurrencies.
Floki (FLOKI), a dog-themed meme coin on the Solana blockchain, has also seen a 21% price increase over the past 24 hours. The crypto asset, now trading at $0.0001872, has its market cap hovering close to $1.79 billion with a daily trading volume of $453 million.
FLOKI Price Chart | Source: crypto.news
Dog hat (Married woman) also saw a 22% jump, currently trading at $2.16 at press time. The 44th largest cryptocurrency by market cap had a daily trading volume of $632 million.
At press time, WIF’s market cap stood at $2.15 billion, maintaining its ranking as the 44th largest crypto asset. The dog-themed meme coin (also a Solana-based coin) is still down 55% from its all-time high of $4.85 hit on March 31.
BRETTthe four-month-old meme coin was still up 21%, trading at $0.147, according to price data from crypto.news.
BRETT Price Chart | Source: crypto.news
In the same period, the meme coin — inspired by a character from illustrator Matt Furie’s “Boy’s Club” comic book — had a daily trading volume of $56.6 million, nearly doubling its value from the previous day.
Additionally, the crypto asset’s market cap rose to $1.39 billion, making it the 61st largest cryptocurrency.
Among the other popular meme coin players, Bonk (BONK) It is Shiba Inu (SHIB) have seen gains of 10% and 6% respectively in the past 24 hours. Meanwhile, Dogecoin (DOGE) posted modest gains of 4% over the same period.
The overall rise in all of these meme coins follows a surge in the largest crypto asset by market cap, Bitcoin, which rose 3% over the past day to $64,900 on Tuesday. Its 24-hour lows and highs were recorded as $64,988 and $62,359, respectively.
Despite this increase, Bitcoin’s market dominance declined slightly by 0.26% to 53.64%, suggesting heightened activity in the altcoin market. The global cryptocurrency market cap also witnessed a 1.6% increase, bringing it to a total of $2.34 trillion.
At the same time, the meme coin sector saw a notable surge, rising nearly 13% in the last 24 hours. The sector’s market cap reached $53.1 billion.
The big jump in the meme coin market is often associated with Bitcoin’s performance due to its influence on the broader cryptocurrency market.
When Bitcoin performs well, it often leads to increased investor confidence and interest in alternative coins (altcoins), including meme coins. This phenomenon can create a positive feedback loop, where rising prices attract more investors, pushing prices even higher.