Meme coins experienced a significant resurgence on Tuesday, countering the global financial contraction that had impacted both crypto and traditional markets. Pepecoin (PEPE), an Ethereum-based token, spearheaded this recovery, soaring over 22% to $0.0000007673.
This uptick successfully erased the losses Pepecoin faced on Monday, as global geopolitical and financial uncertainties weighed heavily on asset prices across the board.
Pepecoin (PEPE) Surges Over 22%
Despite its current value remaining a fraction of a cent, Pepecoin’s market capitalization now stands at approximately $3.22 billion. However, it is still down by around 35% over the past week.
BONK Recovers Nearly 18%
Other meme coins also rebounded robustly after substantial declines earlier in the week. Solana’s leading meme coin, BONK, surged nearly 18% on Tuesday morning, trading at $0.00001956 with a market capitalization of $1.3 billion. This gain has nearly compensated for BONK’s losses on Monday.
Dogwifhat (WIF) Increases Over 14%
Dogwifhat (WIF), another top meme coin on the Solana network, saw an increase of over 14%, bringing its market capitalization to $1.4 billion, despite a 40% drop over the past week.
Shiba Inu (SHIB) Climbs 18.4%
Shiba Inu (SHIB), a favorite in the Ethereum meme coin space, climbed 18.4% to a market capitalization of roughly $7.9 billion, trading at $0.00001348.
Brett (BRETT) Sees a Staggering 46% Increase
Newcomer Brett (BRETT), based on a character by Pepe the Frog artist Matt Furie, experienced a staggering 46% increase, trading at $0.09245 on Tuesday morning and reaching a market capitalization of $919 million.
Solana (SOL) Notable Recovery
Beyond the meme coin sector, Solana itself saw a notable recovery, surging 19.6% in the last 24 hours. Solana’s token hit above $143 before stabilizing at $138.57 at the time of writing, bouncing back from a low of $110 on Monday.
Neiro (NEIRO) Breaks All-Time High
Neiro (NEIRO), an Ethereum-based token, broke its all-time high amidst the market turmoil. The token’s remarkable strength during the selloff signals significant potential, with market observers anticipating further growth.
This surge in meme coins coincides with a broader recovery trend in financial markets following Monday’s downturn. Asian stock markets recovered after hitting historic lows, and American markets are also showing signs of a potential rebound.
