Ethereum (ETH) and Solana (SOL) Meme Coins Outshine Bitcoin (BTC) in Latest Market Surge

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Bitcoin's modest gains are being overshadowed by the surge in meme coins, with Pepe (PEPE) leading the pack with a 22% increase in the past day. Other meme coins such as Bonk (BONK), Dogwifhat (WIF), and FLOKI have also made significant gains, despite the broader crypto market taking a plunge. However, the meme coin market is considered risky, with new cryptocurrencies disappearing as quickly as they spring into existence.

As Bitcoin struggles, meme coins are stealing the spotlight with significant gains. However, the volatile nature of these cryptocurrencies makes them a risky investment.

Meme Coins Outperform Bitcoin

Bitcoin has been struggling lately, though its modest gains Thursday are surely a welcome sign of life for traders. But Bitcoin's slight rise is being overshadowed by a crypto category that is on fire today: meme coins. Pepe (PEPE) is the biggest winner, shooting up by over 22% in the past day per data from CoinGecko. The Ethereum-based token hasn't seen much price action over the past week, though, but still is up by over 8% in the past 30 days.

Other Meme Coins Making Notable Gains

Over the past day, the Solana-based Bonk (BONK) has boomed by over 18%; it's now priced at $0.00002479, CoinGecko shows. Meanwhile Dogwifhat (WIF) and FLOKI have both made notable gains—they're up 14% and 12%, respectively, making them two of the other biggest gainers in the meme coin market .