Memecoins lifted Sunday as the broader cryptocurrency market staged a spirited recovery from Friday's lows.
What happened: Cat-themed cryptocurrency, Popcat, led the rally, with gains upwards of 6.5% in the last 24 hours. The Solana (CRYPTO: SOL)-based coin registered a 51% spike in trading volumes to $57 million.
Despite a 5.72% decline over the month, POPCAT has been a bumper investment in the cryptocurrency market this year, returning a whopping 6515% year-to-date.
| Cryptocurrency | Gains +/- | Price (Recorded at 11:55 p.m. EDT) |
| Popcat (POPCAT) | +6.58% | $0.5376 |
| Brett (Based) (BRETT) | +4.89% | $0.07281 |
| Pepe (CRYPTO: PEPE) | +3.14% | $0.00007033 |
Brett, the memecoin based on Layer-2 network Base, notched up gains close to 5% in the 24 hours. Inspired by the character Brett from Matt Furie's Boys' Club comic series, the token erased losses from Friday with the latest uptick.
Ethereum (CRYPTO: ETH)-based Pepe also popped over 3%, with a 41% jump in trades in the last 24 hours. In fact, the frog-themed token was the most traded memecoin in the 24-hour period, eclipsing the trading volume for Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
The total memecoin market capitalization rose from $35.63 billion to $36.50, indicating a rise of 2.4%.
See Also: Peter Schiff Will Accept He Was Wrong About Bitcoin If Restaurants Begin To Show Prices In Satoshis Among Other Things
Why It Matters: The rally came amid a wider market uptick, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) advancing to the north.
The spike came after Bitcoin plummeted below $53,000 on Friday due to investors' concerns about a weakening labor market.
The global market cap stood at $1.95 trillion, following a jump of 1.26% in the last 24 hours.
Price Action: At the time of writing, Bitcoin was exchanging hands at $55,116.82, up 1.43% in the last 24 hours, according to data from Benzinga Pro.
Image via Shutterstock
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