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Meme coins are experiencing a resurgence, with significant gains in the past 24 hours. Leading tokens Bonk (BONK), Floki (FLOKI), and Brett (BRETT) have spearheaded the bullish momentum after a few days of sluggish movement.
The meme coin market capitalization currently stands at $48 billion, according to CoinMarketCap data. Dogecoin (DOGE) and Shiba Inu (SHIB), two dog-themed meme coins that gained widespread popularity in 2021, continue to lead the sector in terms of market cap. The trading volume of the meme coin sector has surged to $3.49 billion.
The top performer in the meme coin sector is Bonk (BONK), the first dog-themed coin on Solana. BONK has surged 10.9% to a current price of $0.00002629. The token’s volume stands at $341 million, and its market capitalization is $1.79 billion. BONK is also nearing entry into the list of the top 50 digital assets by market cap, currently ranked at 51.
The BONK chart indicates that the meme coin is attempting a rebound, aiming for the $0.00004 price level. The relative strength index (RSI) stands at 54.6, suggesting a balanced battle between bulls and bears.
Floki (FLOKI) surged 5.28%, hitting a price tag of $0.0001811, and reaching its seven-day high. However, the meme coin is still lower than its monthly high of $0.0003 and is down 27.24% in the past 30 days. The RSI for FLOKI reads 45.4, confirming that the bears are still exerting control.
Finally, the BRETT token rose 3.16%, and its price at the time of publication is $0.1667. The trading volume of the token dropped 4.84%, while its market cap stands at $1.65 billion, making it the 55th largest digital asset.
The meme coin is up 8.87% in the last week, 65.41% in 30 days, and 331.04% since July 2023, significantly outperforming DOGE and SHIB, which have risen 84.26% and 128.18% since July last year. Notably, Solana-based meme coins like BRETT, BONK, and Book of Memes (BOME) have been experiencing a recent surge in popularity.
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