Meme coins surged on Sunday, with major coins topping the list of daily crypto gainers.
What happened: Dog-themed token Dogwifhat surged more than 16%, becoming the second-best performing cryptocurrency in the past 24 hours. The Solana SOL/USD-based coin has soared to its highest level since July 23rd, with a massive 75% increase in trading volume.
Cat-themed PopCat followed suit, rising more than 15% to a new all-time high. The cryptocurrency soared more than 40% last week, posting a staggering 15,398% gain, making it the market’s biggest gainer this year.
Cryptocurrency Gain +/- Price (Recorded at 10:45 PM EDT) dogwifhat WIF/USD+16.82%$2.66Popcat (POPCAT)+15.61%$1.41Bonk BONK/USD+12.79%$0.00002323
Yet another Solana-based meme coin, Bonk, rose 12.79% to move into fifth place among the top market performers.
Blue chip coins such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD rose 4.47% and 6.63%, respectively, as the overall memecoin market capitalization surged more than 9% in the past 24 hours.
Related article: After making digital asset transactions tax-free, Shiba Inu’s Kento Kusama calls the country a “crypto capital”
Why it matters: This rally followed a broader market rally in which bellwethers like Bitcoin BTC/USD and Ethereum ETH/USD made significant gains overnight.
The optimism may be due to Friday’s better-than-expected jobs report, indicating a healthy economy and easing fears of a recession.
Image via Shutterstock
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