Memecoins were on the move on Monday morning, with Floki and Bonk leading the charge as Bitcoin BTC/USD continued to claim new peaks.

What Happened: Ethereum ETH/USD-based FLOKI reached a two-month high of $0.00009044, showcasing a 15% surge in the last 24 hours.

This rally contributed to making the dog-themed memecoin the third-largest cryptocurrency gainer in the 24-hour period. Its trading volume also underwent a significant increase of 128%, pushing it beyond $211 million.

This momentum comes ahead of the TOKEN2049 cryptocurrency conference in Dubai, where Floki’s Community Relations Officer will be discussing the crucial role of utility for memecoins.

Floki is taking the spotlight at TOKEN2049 Dubai, one of the most important events on the global crypto calendar! 🔥On May 1st at 11:15 AM (UTC+04:00), our Community Relations Officer will be speaking on the IO NET Stage about ‘How utility will shape the memecoin… pic.twitter.com.com/PBqv3Bldr4

Solana SOL/USD-based canine coin BONK fell short of reaching its early morning price peak of $0.00002162. Nonetheless, it displayed 24-hour gains of over 9%. Bonk’s trading volume soared to nearly $500 million following a 75% spike.

Among the mega-cap meme coins, Dogecoin DOGE/USD and Shiba Inu SHIB/USD showed gains of 1.01% and 2.83%, respectively. Fartcoin (FARTCOIN) capitalized on its ongoing fad, showcasing a surge of 7.50%.

In the broader crypto sphere, Bitcoin displayed further strength, maintaining its rise above the $95,000 level. Meanwhile, Ethereum showed resilience, remaining above the $2,100 mark despite early morning selling pressure.

The total cryptocurrency market capitalization encountered a slight decline of 0.43%, bringing it to $1.64 trillion. In the 24-hour period, the cryptocurrency market encountered a trading volume of $48 billion, indicating a decrease of 20.20%.

See More: Top 4 Cryptocurrency News Headlines Today, May 1

Last Chance to Join Benzinga's VIP Introduction to Web3

Benzinga has covered the Web3 industry extensively and continues to report on the metaverse, blockchain technology, cryptocurrencies and other topics. Benzinga is now offering a unique opportunity to learn about this rapidly evolving industry in a single afternoon.

Join Benzinga's "VIP Introduction to Web3" event on May 11 at the Benzinga New York office. This exclusive event will feature presentations from prominent figures in the Web3 sector and insights into the latest trends and developments. Attendees will also have the chance to network with other professionals in a relaxed and informal setting.

Don't miss this excellent opportunity to expand your knowledge of Web3 and make valuable connections within the industry.

Register today to attend this unique event.

Image Credit: Akif CUBUK on Shutterstock