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Home CRYPTO

Memecoins Steal the Spotlight as Ethereum Surges: PEPE and BONK Lead the Charge (Still Early?)

Gary Ponce by Gary Ponce
May 10, 2025
in CRYPTO, ETHEREUM, FINANCE, MEMECOINS, OPINION
Reading Time: 3 mins read
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  • PEPE Leads Meme Coin Rally: Pepe (PEPE) surged 35% in 24 hours, reaching $0.00001338 and pushing its market cap to $5.5 billion, driven by $4.8 billion in trading volume, the highest since February 2025.
  • Other Meme Coins Follow Suit: Bonk (BONK) rose 18% to $0.00002209, Floki (FLOKI) re-entered the top 100 with a $1 billion market cap, while Shiba Inu (SHIB) gained 10.2% and Dogecoin (DOGE) broke through $0.20 with a 9.2% rally.
  • Ethereum’s $2,400 Breakout Fuels Market Rally: Ethereum’s unexpected move above $2,400 triggered over $1.1 billion in short liquidations, contributing to a 3.4% market cap increase across the crypto sector as meme coins seized the spotlight.

While Ethereum (ETH) is grabbing headlines with its unexpected surge past $2,400, meme coins are making even louder noise. Some of these quirky, community-driven tokens are posting wild gains, outpacing even the big players in the market. The crypto recovery is in full swing, and meme coins are cashing in.

PEPE Rockets 35% in 24 Hours — $1.3 Billion Inflow

Pepe (PEPE), the meme coin sensation, just pulled off a 35% rally in the last 24 hours, rocketing to $0.00001338. With this massive move, PEPE’s market cap soared past $5.5 billion — its highest point since February 1, 2025. Trading volume? A staggering $4.8 billion in just one day. That’s serious momentum for a meme coin.

PEPE’s rise has pushed it back into the top 30 cryptocurrencies by market cap, cementing its position as the fastest-growing meme token in the space right now.

memecoin price chart

Bonk, Floki, and SHIB Join the Party

It’s not just PEPE riding the meme coin wave. Bonk (BONK) shot up 18%, hitting $0.00002209 in 24 hours. Meanwhile, Floki (FLOKI) clawed its way back into the top 100, reaching a $1 billion market cap for the first time in weeks.

Shiba Inu (SHIB), the second-largest meme coin, jumped by 10.2% to trade at $0.00001507. Its market cap is now targeting the $9 billion mark. And Dogecoin (DOGE)? The top dog in the meme coin pack climbed 9.2% to break through a critical resistance level at $0.20, reinforcing its position as the seventh-largest altcoin.

AI16Z, BRETT, and Virtual Protocol — Meme Coins on the Move

It’s not just the big names making moves. AI16Z (AI16Z), a rising star in the AI crypto sector, surged 17% in the last 24 hours. Virtual Protocol (VIRTUAL) also posted a 20% gain, while BRETT, the biggest meme coin on the Base ecosystem, spiked by 22% and is inching closer to the top 100 meme cryptos by market cap.

Ethereum’s $2,400 Breakout Triggers Liquidations

While the meme coins were partying, Ethereum’s leap above $2,400 caught traders off guard, sparking a wave of short liquidations. Over $1.1 billion in shorts were wiped out, adding more fuel to the broader market rally.

In total, the cryptocurrency market cap grew by 3.4% in the past day — the fastest surge in weeks. With meme coins gaining traction and Ethereum holding above key resistance, the market mood is shifting fast. But the question is, can the rally hold, or is a correction just around the corner?

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: $bonk$brett$FLOKI$pepe$SHIBAI16Zethereum
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Gary Ponce

Gary Ponce

Gary has been active in the crypto space since 2019, developing hands-on experience in trading, airdrop hunting, and identifying emerging narratives in low-cap tokens. For over four years, he has contributed research and editorial content with Aiur Labs and BlockNews, focusing on market analysis and community insights. His work reflects both transparency and independent reporting, with an emphasis on simplifying complex ideas for readers. Gary is a long-term believer in Bitcoin, Sui, Hype, Litecoin, XRP, and select meme tokens, combining personal trading knowledge with professional editorial standards.

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