The cryptocurrency market is witnessing a solid bullish reversal today

The cryptocurrency market is displaying a solid bullish reversal today, with Bitcoin's surge past $100K reigniting a frenzy among meme coins. Among the frontrunners, PEPE has shot up an impressive 28%, and major meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have each advanced 8%, signaling a robust revival in the meme coin sector.

This push has propelled the market cap of the meme coin sector to $62.52 billion—showing an increase of nearly 12% in the past 24 hours. The trading volume for meme coins has also soared 129%, currently sitting at $13.15% — according to CoinMarketCap data.

PEPE, the frog-themed token, has emerged as the standout performer, seeing a 30% surge fueled by a 240% spike in trading volume, reaching $2.36 billion in the last 24 hours. The breakout in PEPE follows a tremendous increase in open interest, which hit $531 million, nearing its all-time high.

However, with a 144% surge in trading volume to $1.8 billion and a market cap pushing past $30 billion, Dogecoin—often called the original meme coin—saw an 8% spike. Breaking above a descending trendline resistance, DOGE's 8% gain reflects renewed whale activity and retail interest.

On the other hand, Shiba Inu saw trading volume increase 140% to $383 million and a market cap of $8.62 billion as it rallies past its 50-day SMA. SHIB's technical momentum, furthered by burn initiatives and Shibarium's growth, indicates potential resistance tests near the $0.00001600 price mark.

Other Notable pumps in meme coins include, TRUMP, PENGU and FOLKI's 15% while FARTCOIN has surged nearly 20% in the past 24 hours. One of the eye-catching movers is BRETT, which has shot up by 30% in the past 24 hours, following PEPE's rally.