Memecoins Bounced Back with a Spirited Rally Tuesday Following Bitcoin's BTC/USD Upward Advances

Memecoins were back in the green on Tuesday, heating up the crypto market with a spirited rally. Among the most successful large-cap memecoins over the last 24 hours was Pepe, which surged over 11%. The Ethereum ETH/USD-based coin was also the second-most traded meme coin in the 24-hour period.

Solana SOL/USD-based Bonk followed closely with an uptick of over 8%, while Floki returned 7.39% to its holders in the last 24 hours.

Among the blue-chip meme coins, Dogecoin DOGE/USD and Shiba Inu SHIB/USD also reported gains of 5.73% and 4.86%, respectively.

President Donald Trump's Official Trump TRUMP/USD token saw an increase of 1.72% and was the only major meme coin to report net gains year-to-date.

The total meme coin market capitalization reached $45.81 billion, following a 5.71% jump in the last 24 hours. However, over the last 30 days, the valuation has shrunk 32%.

The rise was spurred by Bitcoin's BTC/USD recovery to $83,000 on Tuesday, a day after it fell below $76,000. It was also seen after a bill aimed at funding the newly established Strategic Bitcoin Reserve was introduced in the House.