The cryptocurrency market experienced a spirited recovery on Sunday, with memecoins leading the charge. Popcat, a cat-themed cryptocurrency, saw gains exceeding 6.5% in the past 24 hours, with its Solana-based trading volume spiking to $57 million. This impressive performance has made Popcat a stellar investment this year, delivering a staggering 6515% year-to-date return despite a recent 5.72% monthly decline.
Another notable gainer was Brett, a memecoin based on the Layer-2 network Base. It recorded gains close to 5% in the 24-hour period, erasing losses from Friday. Inspired by the character Brett from Matt Furie’s Boys’ Club comic series, the token saw a surge in interest.
Pepe, an Ethereum-based memecoin featuring a frog theme, also surged over 3% with a 41% increase in trading volume within the last 24 hours. It even surpassed the trading volume of Dogecoin and Shiba Inu, becoming the most traded memecoin in the period.
This collective rally resulted in a 2.4% increase in the total memecoin market capitalization, reaching $36.50 billion. The broader market uptick also saw Bitcoin and Ethereum advancing north, with Bitcoin trading at $55,116.82, up 1.43% in the past 24 hours.
This rebound follows a dip below $53,000 on Friday, driven by investor concerns about a weakening labor market. The global market cap, however, stands at $1.95 trillion, indicating a 1.26% jump in the last 24 hours. This recovery suggests a possible shift in market sentiment, though further observation is needed to confirm any sustained upward trend.
