Bonk Memecoin Star Of The Day, Shoots Up Nearly 20% — Pepe And Floki Chart Impressive Gains Leaving Dogecoin, Shiba Inu Trailing In The Dust – Emeren Group (NYSE:SOL)

Memecoins rebounded with a powerful rally Monday, with widespread tokens like Bonk and Pepe that includes among the many market’s finest performers.

What Occurred: Solana SOL/USD-based canine coin, Bonk, grew to become the most important gainer within the final 24 hours. The meme token’s buying and selling quantity surged 139% to $477 million, implying heightened demand from retail. 

Frog-themed Pepe was the second-best performer, with holders profiting greater than 15% within the final 24 hours. The Ethereum ETH/USD-based token noticed its quantity leap 63% to $1.15 billion, the best amongst memecoins. 

Established gamers like Dogecoin DOGE/USD and Shiba Inu SHIB/USD additionally recorded wholesome features of 4.30% and three.78%, respectively.

The entire memecoin market cap rose to $40.84 billion, marking a rise of 6.16% within the final 24 hours.

See Additionally: Spot Ethereum ETFs Could Launch In A Week Or Two, Says ETF Analyst Nate Geraci: ‘How Quickly Will SEC Turn These Around?’

Why It Issues: The memecoin rally comes as market heavyweights like Bitcoin BTC/USD confirmed signs of recovery. 

Meme tokens have been among the many quickest to maneuver this yr when the market exhibits indications of revival. In truth, this class of cryptocurrencies was the most significant wealth multiplier for investors within the first half of 2024.

Picture by way of Shutterstock

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