Meme Coins Are Regaining After a Week of Losses, With Dogecoin (DOGE) and Pepe (PEPE) Leading the Charge

Bitcoin is up 2% in the last 24 hours as it attempts to regain some footing after a week of losses, but some members of the Solana animal meme coin group have soared by triple-digit percentages.

Bitcoin has risen by around 2% in the last 24 hours as the cryptocurrency attempts to regain some footing after a week of losses. As of press time, BTC is trading at around $106,000.

The move comes while Bitcoin dominance—or its market capitalization relative to the entire crypto market cap—has fallen to 64.15%. That’s a drop of around 0.16%, and further off the four-year high it marked one month ago as memes and alts outperform.

Indeed, while BTC is up 2%, top meme coin Dogecoin (DOGE) has seen gains of 3% in the last 24 hours, according to CoinGecko.

The triple-digit gains

Dogecoin, which is currently trading at around $0.072, is up 12.6% in the week to date, and remains largely unmoved from last month’s all-time low. Still, that’s a sizable gain compared to BTC, which has lost about 9% over the last seven days.

Dogecoin and Pepe (PEPE) are both among the top 50 cryptocurrencies by market cap, and they have seen gains of 3% and 9% respectively in the last 24 hours.

But while the top memes are leading BTC, they’re severely underperforming a basket of established Solana-based animal meme coins like Dogwifhat (WIF), Popcat (POPCAT), Peanut the Squirrel (PNUT), and Moo Deng (MOODENG), all which are beginning a rebound off double-digit percentage losses in the last 7 days.

Each member of the group has gained at least 10% in the last 24 hours, led by WIF, which has jumped 20% to $1.02. That’s still nearly 79% off its March 2024 all-time high of $4.83, however.

The group, which all earned centralized exchange listings during last year’s Solana meme coin frenzy, have also experienced trading volume increases during the last 24 hours, according to data from CoinGecko.

The meme coins are heating up

Beyond Solana, other established meme coins are leading the charge higher on their respective chains. The Ethereum-based SPX6900, a token which was created with the intention of flipping the S&P 500 in market cap, is up 12.9% to a $1.04 billion market cap—and unlike other meme coins, has actually gained in the last week.

By comparison, the S&P 500 Index maintains a total market capitalization of around $47.5 trillion.

Ethereum’s Mog Coin (MOG) has also added 15.5% in the last 24 hours. Newer meme coin ecosystems are joining the party too, with Hyperliquid’s PURR token gaining nearly 38.7% in the last 24 hours.

All this comes while the meme coin category has managed just a 3.1% gain during that time, and remains down nearly 10% over the last week.