Memecoins Rebound With a Strong Rally Monday, Bonk and Pepe Feature Among Market\'s Best Performers

Solana-based canine coin, Bonk, became the biggest gainer in the last 24 hours. The meme token's trading volume surged 139% to $477 million.

Solana (SOL) based canine coin, Bonk, emerged as the biggest gainer in the last 24 hours, with holders clocking gains of over 18% in the period. The meme token's trading volume also surged by a significant margin.

Bonk, which is touted as a "community token" on Solana, saw its trading volume shoot up by 139% in the last 24 hours to reach $477 million. The meme token, which was launched in December last year, has quickly become one of the most popular tokens in the retail crypto space.

Another meme token that performed well on Monday was Pepe, which saw its price rise by more than 15% in the last 24 hours. The Ethereum (ETH) based meme token saw its trading volume increase by 63% to reach $1.15 billion in the last 24 hours, which was the highest among memecoins.

Other memecoins also performed well on Monday, with Dogecoin (DOGE) and Shiba Inu (SHIB) recording gains of 4.30% and 3.78%, respectively, in the last 24 hours. Both meme tokens also saw their trading volumes increase in the last 24 hours.

Overall, the total memecoin market cap also increased by 6.16% in the last 24 hours to reach $40.84 billion.

This comes as market heavyweights like Bitcoin (BTC) showed signs of recovery. Meme tokens have been among the quickest to move this year when the market shows indications of revival.

In fact, this category of cryptocurrencies was the most significant wealth multiplier for investors in the first half of 2024.

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