PEPE, FLOKI, WIF and BRETT are all up 20%

Meme coins are once again at the forefront of the crypto market, with Bitcoin’s recent recovery having a positive impact on major crypto categories. PEPE, FLOKI, WIF, and BRETT are leading the charge, with each posting daily gains of over 20% on Tuesday.

Pepe (PEPE), an Ethereum-based meme coin, is up 24% in the past day, changing hands at $0.00001187. During the same time frame, 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 value increased by 23%, exceeding $5 billion, and took the 22nd place among the largest cryptocurrencies.

Floki (FLOKI), a dog-themed meme coin on the Solana blockchain, has seen a 21% price increase over the past 24 hours. Currently trading at $0.0001872, the crypto asset has a market cap of close to $1.79 billion and a daily trading volume of $453 million.

FLOKI price chart | Source: crypto.news

Dogwifhat (WIF) also saw a 22% jump and is 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 had a market cap of $2.15 billion, 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 reached on March 31.

BRETT, the meme coin launched four months ago, is still trading up 21% at $0.147, according to price data from crypto.news.

BRETT price chart | Source: crypto.news

During the same period, the daily trading volume of the meme coin, inspired by a character in illustrator Matt Furie’s “Boy’s Club” comic book, reached $56.6 million, almost double that of the previous day.

Additionally, the market cap of the crypto asset increased to $1.39 billion, making it the 61st largest cryptocurrency.

Among other popular meme coin players, Bonk (BONK) and Shiba Inu (SHIB) have registered gains of 10% and 6% respectively over the past 24 hours. Meanwhile, Dogecoin (DOGE) has recorded modest gains of 4% over the same time frame.

The overall rise in all these meme coins follows the rise in Bitcoin, the largest crypto asset by market cap. Bitcoin rose 3% to $64,900 on Tuesday. Its 24-hour low and high were recorded at $64,988 and $62,359, respectively.

Despite this increase, Bitcoin’s market dominance slightly decreased by 0.26% to 53.64%, indicating increased activity in the altcoin market. The global cryptocurrency market cap also increased by 1.6% to a total of $2.34 trillion.

At the same time, the meme coin sector has also seen a significant increase, with an increase of approximately 13% in the last 24 hours. The market value of the sector has reached $53.1 billion.

The big jump in the meme coin market is often associated with Bitcoin’s performance due to its impact on the broader cryptocurrency market.

When Bitcoin performs well, investor confidence and interest in alternative coins (altcoins), including meme coins, often increases. This phenomenon can create a positive feedback loop where rising prices attract more investors, pushing prices higher.