- PEPE is the top gainer of the day with 40.2% growth in the last 24 hours.
- Shiba Inu restores fundamental support levels while climbing up the charts.
- DOGE powers up ahead of Elon Musk VS. Mark Zuckerberg cage fight.
As Bitcoin (BTC) is back above $30,000, the bullish market sentiment encircling the largest digital asset has passed onto most of the larger-cap altcoins, including memecoins. PEPE climbed back to the #69 spot by global market capitalization with an impressive 40.2% growth in the last 24 hours.
Nearly falling out of the TOP 100 just a couple of days ago, $PEPE’s revival efforts are now evident in climbing nearly 30 positions in less than a day. PEPE trades at $0.00000148 at the time of publication, with a 691 million market capitalization.
Interestingly, this price movement breaks PEPE even in the monthly charts, as the pond-dwelling memecoin was slightly below a $700 million market cap 30 days ago. The unusual bounce back comes despite PEPE offering no utility or technical upgrades.
Top Dogs Make Moves as the Market Comes Back to Life
Despite the sudden increase, $PEPE is still slightly red monthly, like bigger market cap memecoins Shiba Inu and Dogecoin. It’s hard to determine how long $PEPE’s bull run could last, as it’s a relatively new cryptocurrency compared to its main rivals.
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The leading dog-themed memecoins, Shiba Inu (SHIB) and Dogecoin (DOGE), joined the rally on Thursday but with significantly lower gains. SHIB gained 13% and is close to reclaiming a $5 billion market cap.
Currently at $4,903,340,099, $SHIB moved up in the global crypto charts due to intense burning procedures, which saw 341,504,230 SHIB tokens set ablaze since yesterday. On top of that, the Shiba Inu community recently welcomed Shibacals, a physical studio for Shibarium.
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Meanwhile, DOGE also caught the bullish wave and tallied 6.9% gains in the Bitcoin-infused bull run. At press time, the #9 ranked Dogecoin is changing hands at $0.0665, according to CoinGecko.
The increase in DOGE’s market price coincided with skyrocketing social mentions, as Elon Musk, the most famous Dogecoin aficionado, is getting ready to fight the renowned tech mogul Mark Zuckerberg, according to a leaked memo. Naturally, the DOGE army and the rest of Crypto Twitter are taking sides on the upcoming duel, sparking extra social activity regarding DOGE.
On the Flipside
- As the memecoin craze kicks in, Crypto Twitter is flooded with fake airdrops, mostly linked to $PEPE and smaller-cap memecoins.
- Many counterfeit airdrops come from Twitter Blue verified accounts, luring investors into connecting their decentralized wallets.
Why This Matters
Memecoin rallies often fuel the bull cycle, making larger-cap memecurrencies lead the race.
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