Dogecoin Rebounds, But These Meme Coins on Solana and Ethereum See Even Bigger Gains

Meme Coins Soar as Bitcoin Regains Momentum

In a surprising market shift, meme coins are outperforming Bitcoin despite the leading cryptocurrency's recovery above $106,000. Dogecoin (DOGE) and Pepe (PEPE) have shown particularly strong gains, rising 3% and 9% respectively in the past 24 hours while Bitcoin climbed just 2%.

Solana-Based Meme Coins Lead the Charge

The real standouts come from Solana's ecosystem, where animal-themed tokens are posting double-digit gains:

• Dogwifhat (WIF): +20% to $1.02 (still 79% below March 2024 peak)
• Popcat (POPCAT): +10%
• Peanut the Squirrel (PNUT): +10%
• Moo Deng (MOODENG): +10%

Ethereum Meme Coin Makes Waves

On the Ethereum network, SPX6900 - created as a tongue-in-cheek challenge to the S&P 500 - has surged 12.9% to a $1.04 billion market cap. While still far from its $47.5 trillion namesake, the token's growth illustrates meme coins' expanding influence.

Market Impact

This meme coin rally has slightly eroded Bitcoin's dominance, which fell 0.16% from its recent four-year high to 64.15%. The trend underscores crypto investors' growing appetite for alternative assets beyond the market leaders.

As the digital asset space matures, these developments highlight the market's unpredictable nature, where viral trends can quickly reshape investment patterns.