Meme coins have roared back with strong gains over the past 48 hours, riding on the coattails of Bitcoin’s comeback above $65,000.
What Happened: According to Coingecko data, the market capitalization of meme coins has surged by 18.5% in the past 24 hours, approaching the $55.9 billion mark. For comparison, the overall cryptocurrency market rose by 2.9%, reaching a valuation of $2.3 trillion.
Notably, five meme coins—Pepe (CRYPTO: PEPE), Bonk (CRYPTO: BONK), Shiba Inu (CRYPTO: SHIB), Floki Inu (CRYPTO: FLOKI), and Brett (CRYPTO: BRETT)—ranked among the top ten performers.
The surge in meme coins follows Bitcoin’s breakout above the $65,000 mark after more than a month of sideways trading. This positive momentum for the leading cryptocurrency came after the Federal Reserve cut interest rates by 50 basis points, alongside strong ETF inflows, …
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