Bitcoin (BTC), which had a weak start to 2026, is still below $90,000. Ethereum, the largest altcoin, surpassed $3,000 in the last day, but remains quite far from its all-time high (ATH).
While Bitcoin and altcoins continue to show weakness at this point, some altcoins are rising, leading people to wonder if a rally is about to begin.
Accordingly, memecoins have shown sharp gains in the last 24 hours, increasing hopes for a New Year rally for memecoins.
According to CoinMarketCap data, Pepe (PEPE) rose 36.77% to $0.0000056 compared to the previous day, while other major memecoins also saw significant gains.
While PEPE wasn’t the only memecoin to rise at this point, Dogecoin (DOGE) increased by 9.2%; Shiba Inu (SHIB) by 9.8%; Floki Inu (FLOKI) by 19.1%; Bonk (BONK) by 15%; Pudgy Penguins (PENGU) by 15.7%; and SPX6900 (SPX) by 20% during the day.
Many memecoins in the top 100 by market capitalization have experienced sharp increases, and this is attributed to Ethereum (ETH) co-founder Vitalik Buterin.
Experts say that the sharp rise in memecoin prices occurred after Vitalik Buterin changed his X account profile picture to a meme NFT.
With the price increase, Memecoin’s total market capitalization reached $39.45 billion, its highest level in two weeks. It was noted that the last time Memecoin’s market capitalization exceeded $39 billion was December 20th.
*This is not investment advice.
