Memecoins bounced back with a spirited rally Tuesday following Bitcoin's (CRYPTO: BTC) 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 (CRYPTO: ETH)-based coin was also the second-most traded meme coin in the 24-hour period.
Pepe was followed by Solana (CRYPTO: SOL)-based Bonk, which spiked over 8%, and Floki, which returned 7.39% to its holders in the last 24 hours.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:55 p.m. ET) |
| Pepe (CRYPTO: PEPE) | +11.13% | $0.00006531 |
| Bonk (CRYPTO: BONK) | +8.06% | $0.00001042 |
| Floki (CRYPTO: FLOKI) | +7.39% | $0.00006101 |
Blue-chip meme coins such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) 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 (CRYPTO: TRUMP) 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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