Popcat hits new ATH, leads Solana meme coin rally

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Popcat (POPCAT), a popular meme coin on Solana, just set a new record high at $1.75 on Tuesday morning. CoinGecko data shows that the token has jumped 11% in the last 24 hours, leading the vibrant rally of Solana-based meme coins.

POPCAT’s market capitalization has now exceeded $1.6 billion, surpassing Bonk (BONK) to become the second-largest Solana meme coin. BONK has rallied 4% over the past 24 hours but the token’s value is still down 7% on the monthly chart.

Meanwhile, Dogwifhat (WIF) has also experienced an 8% price increase, maintaining its position as the largest Solana meme token by market cap.

The overall market cap of Solana meme coins now stands at over $12 billion, registering a nearly 7% increase within a day. This trend reflects the growing appeal of niche tokens in the crypto market.

Other Solana-native meme coins like MEW, BOME, MOODENG, MYRO, and SLERF have also reported gains during this period.

Apart from the Solana meme coins, established tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have also seen major upticks in the past 24 hours. SHIB has risen by 8%, while PEPE has increased by 7%.

DOGE has become one of the day’s top-performing meme coins. The token’s value has soared approximately 13%, reaching $0.16, driven by a recent push from Elon Musk.

Musk’s involvement has intensified as he positions himself for a potential role in the Donald Trump administration, teasing the creation of a “Department of Government Efficiency,” cleverly abbreviated DOGE.

If Trump wins the election, traders anticipate that DOGE’s price could climb even higher. Plus, the likelihood of Musk securing a position in Trump’s cabinet has doubled in the last two weeks, further fueling speculation around DOGE’s future.

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This article first appeared at Crypto Briefing