Ethereum's Pepe Jumps 24%, Leading Meme Coins in Double-Digit Recovery
Meme coins have made an impressive comeback, despite financial troubles worldwide. Ethereum's Pepecoin (PEPE) led the charge with a 24% jump on Tuesday morning. This gain helped recover all Monday’s losses. Over the past week, however, PEPE is still down around 35%. Currently, PEPE’s market capitalization is around $3.22 billion.
Other Meme Coins Join the Rally
BONK, Solana’s leading meme coin, surged nearly 18% this morning, achieving a market capitalization of $1.3 billion. BONK’s gains have nearly erased its Monday losses. Its rival, Dogwifhat (WIF), also enjoyed a 14% rise despite falling 40% over the past week. WIF is now trading at a market cap of $1.4 billion.
Shiba Inu and Brett: Big Gainers
Shiba Inu (SHIB), another favorite, rose by 18.4%, reaching a market cap of approximately $7.9 billion. Brett (BRETT), a newer meme coin based on a character by Pepe the Frog artist Matt Furie, experienced an astonishing 46% increase. BRETT’s current market cap stands at $919 million.
Solana Also Bounces Back
Not just meme coins, but Solana (SOL) made an impressive recovery too. SOL surged over 19.6%, reaching above $143 before settling at $138.57 at the time of writing. Yesterday, SOL had dipped to its lowest point in months at $110.
Broader Market Recovery
While today’s meme coin surges outperformed other crypto assets like Bitcoin, they align with a larger trend of recovery following Monday’s global financial downturn. Asian stock markets rebounded after historic lows, and American markets also seem set for a positive turnaround.
Markets are rebounding after a rough start to the week, showcasing resilience in both crypto and traditional sectors. Investors are cautiously optimistic as assets regain lost ground.
