Memecoins experienced a significant rally on Sunday, led by Popcat, as the broader cryptocurrency market rebounded from Friday’s decline. The rally coincided with a wider market uptick, with Bitcoin and Ethereum also gaining ground. The memecoin market capitalization rose by 2.4% to $36.50 billion.
Memecoins experienced a strong rebound on Monday, fueled by gains in Solana-based tokens like Dogwifhat and Popcat. The broader cryptocurrency market also rallied on Labor Day, with Bitcoin and Ethereum trending upwards. However, market sentiment remains in “Fear” according to the Cryptocurrency Fear & Greed Index.
Popcat, a Solana-based cat-themed meme coin, has become the top performing memecoin of 2024, surging over 6800%. This surge has challenged the dominance of dog-themed memecoins, with even the second-best performing memecoin being cat-themed, Mog Coin. The rise of these feline-inspired cryptocurrencies coincides with a broader upswing in the cryptocurrency market.
