SHIB Price Adds 12% Overnight as Meme Cryptos Recovering

Meme Coins Soar as Market Heats Up

Amidst the cryptocurrency market's recent surge, propelled by the CPI announcement, the potential resolution of the Ripple v. SEC lawsuit, and the upcoming presidential inauguration, meme coins have seized the spotlight once again.

Shiba Inu, Dogecoin Lead the Charge

Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has been a key driver of the market's rise. Its price has jumped by 12%, reaching $0.00002426. The capitalization of the 15th-largest altcoin now stands at $14.5 billion.

Dogecoin (DOGE), the original meme crypto, has also benefited from the rally, adding over 9%. Its price has crossed $0.41, with its market capitalization growing by $6 billion overnight.

Pepe and Bonk Surge

Pepe (PEPE), another community-driven meme coin, has climbed to $0.00002004. With a market capitalization of $8.4 billion, the frog-themed coin has re-entered the top 30 cryptos.

Bonk (BONK) has seen its price rise by 9.5% in 24 hours, reaching $0.00003162. Its capitalization has approached $2.5 billion.

Floki and Altcoin Dominance

Floki (FLOKI) has also joined the rally, with a 7.7% spike. Its price has reached $0.0001812, pushing its market capitalization towards $1.8 billion.

Except for Ripple (XRP) and Stellar Lumens (XLM), which have declined marginally, the entire top 100 cryptocurrencies are in the green. However, Virtual Protocol (VIRTUALS), Hyperliquid (HYPE), and XDC Network (XDC) are experiencing losses today.

As optimism prevails in the altcoin segment, the overall market capitalization has increased by 4.3%. Bitcoin (BTC), the largest cryptocurrency, is attempting to reclaim the $105,000 mark.