Meme coins soar in double-digit gains as PEPE, WIF, FLOKI, MOG lead the charge

Meme coins are leading the crypto market again as the ripple effect of Bitcoin's recovery is flowing across major crypto categories. PEPE, WIF, FLOKI and MOG are at the forefront of the recovery, elevating their daily performance above the 20% mark on Monday.

PEPE, WIF, FLOKI, MOG lead market are largest gainers

After a heavy bloodbath across the meme sector in the past few weeks, the recent market recovery has seen several meme coins stage a comeback in the past 24 hours.

PEPE skyrocketed by 22%, bringing its weekly performance to a 17% gain. The recent rise has seen PEPE approach a prior accumulation zone, where investors purchased about 58.6 trillion PEPE for an average price of $0.000011. With the bullish sentiment gaining strength, investors are less likely to sell to breakeven around this zone; hence, it may serve as a critical throwback support level if PEPE manages to surpass it.

dogwifhat (WIF) soared over 22%, extending its weekly rise to over 24%. The rise saw WIF strengthening its place as the number one Solana meme coin after BONK temporarily took its spot last week. 

MOG rallied over 20% to reach a new all-time high earlier today after a 73% weekly run that saw it break into the top 100 cryptos by market capitalization. Notably, whales have been on a MOG buying spree in the past week. Before hitting a new all-time high, Lookonchain data showed that wallet 0x7Afc withdrew 528.9 billion MOG worth $1.1 million while 0xE76c spent 709,884 USDC to buy 284.2 billion MOG.

FLOKI also joined in the rally, shooting above 20%, taking its weekly gains to 27%.

The meme sector has risen nearly 13% in the past 24 hours as these tokens continue their strong rally.