Memecoins were trading higher late Monday, as investors regained interest in speculative assets amid a broader crypto rally.
The Biggest Gainers
Dogwifhat popped over 6% to become one of the market’s biggest gainers in the last 24 hours. The rally helped the Solana (CRYPTO: SOL)-based token pare its losses from the “Black Friday” bloodbath.
Bonk, another Solana-based memecoin, jumped over 5%, while Ethereum (CRYPTO: ETH)-based tokens such as Floki and Pepe also recorded significant spikes.
Meme heavyweight Shiba Inu lifted 1.75%, while Dogecoin (CRYPTO: DOGE) was largely unchanged at last check. The overall memecoin market capitalization increased by 0.71% to $60.66 billion in the last 24 hours.
See Also: Trader Who Made $160 Million Shorting Bitcoin, Ethereum Before Trump’s Tariff Threat Is Doubling Down: ‘Did Someone Know’
Memecoin Market Woes
The industry was battered during Friday’s sell-offs, wiping off roughly $16 billion in investor wealth in a jiffy. The year has also been challenging, with the total market value nearly halving from its peak of $115 billion at the start of the year.
The memecoin rally comes alongside a broader market rebound, with gains extending into Monday. Ethereum (CRYPTO: ETH) maintained its positive momentum, while Bitcoin (CRYPTO: BTC) took a breather after Sunday’s rally.
Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading
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