Pepe Leads Memecoin Rebound WIth 11% Rally, But Dogecoin, Shiba Inu Not That Far Behind

Memecoins bounced back with a spirited rally Tuesday following Bitcoin's BTC/USD upward advances.

What happened: Frog-themed Pepe surged over 11% to become the most successful large-cap memecoin over the last 24 hours. The Ethereum ETH/USD-based coin was also the second-most traded meme coin in the 24-hour period.

Pepe was followed by Solana SOL/USD-based Bonk, which spiked over 8%, and Floki, which returned 7.39% to its holders in the last 24 hours.

Blue-chip meme coins such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD also pleased their investors, surging 5.73% and 4.86%, respectively.

See Also: Eric Trump’s ‘Great Time’ To Buy ETH Backfires? Ethereum Plunges 30% Since His Buy Call

Furthermore, President Donald Trump's Official Trump TRUMP/USD token rose 1.72% and was the only major meme coin to have recorded net gains year-to-date.

The total meme coin market capitalization reached $45.81 billion, following a 5.71% jump in the last 24 hours. However, over the last 30 days, the valuation has shrunk 32%.

The rise was spurred by Bitcoin’s recovery to $83,000 Tuesday, a day after it fell below $76,000, after a bill aimed at funding the newly established Strategic Bitcoin Reserve was introduced in the House.

Image via Shutterstock

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