Popcat, Dogwifhat Chart Toppers In Memecoin Tsunami; Dogecoin, Shiba Inu Rise As Broader Sentiment Improves

Memecoins erupted Sunday, with major coins topping the daily cryptocurrency gainers list.

What happened: Dog-themed token dogwifhat soared more than 16%, becoming the second-best performing cryptocurrency in the last 24 hours. The Solana SOL/USD-based coin spiked to its highest level since July 23, witnessing a significant 75% jump in trading volume.

Cat-themed Popcat followed suit, gaining more than 15% to set a new all-time high. The cryptocurrency surged more than 40% in the last week and has been the market’s top gainer this year, with a staggering 15398% increase. 

Yet another Solana-based memecoin, Bonk, rose 12.79%, moving up to fifth place among top market performers.

Blue-chip coins like Dogecoin DOGE/USD and Shiba Inu SHIB/USD surged 4.47% and 6.63%, respectively, as the overall meme coin market capitalization spiked more than 9% in the last 24 hours.

See Also: Shiba Inu’s Shytoshi Kusama Calls This Nation ‘Crypto Capital’ After It Makes Digital Asset Transactions Tax Free

Why It Matters: The jump followed a broader market rally that saw bellwethers like Bitcoin BTC/USD and Ethereum ETH/USD make significant advances overnight. 

The optimism could be attributable to Friday’s better-than-expected jobs report, indicating a healthy economy and allaying fears of a recession. 

Image via Shutterstock

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