Memecoins like Pepe (PEPE), Bonk (BONK), and Dogecoin (DOGE) have been among the many best-performing cryptocurrencies on Friday, posting important positive factors because the market equipped for 2026.
Key takeaways:
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Memecoin market cap surged 8% to $39.45 billion, a two-week excessive, signalling sturdy demand.
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PEPE led positive factors with 23.6%, BONK +10%, DOGE +8%; fueled by influencer hype and daring 2026 predictions.
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Spike in memecoin open curiosity over the past 24 hours displays rising bullish bets.
Memecoin market cap provides $3 billion
The newest rise in memecoin costs has seen the overall market capitalization attain a two-week excessive of $39.45 billion on Friday as Ethereum cofounder Vitalik Buterin switched his profile image to a meme NFT.
🚨 LATEST: Vitalik Buterin switching his profile image to a Milady NFT reportedly despatched the gathering’s ground worth up round 50%. pic.twitter.com/o2jLYlSDPW
— Cointelegraph (@Cointelegraph) January 2, 2026
The final time the memecoin market cap was above $39 billion was on Dec. 20. The combination market worth of cryptocurrencies on this sector is up 8% over the past 24 hours.
PEPE, the Ethereum-based memecoin, led the positive factors, rising 23.6% over the past 24 hours. Pepe’s rival on Solana, BONK, recorded 10% each day positive factors, whereas DOGE, the most important memecoin by market cap, jumped 8% over the identical timeframe.
Whereas not a full-blown rally, this efficiency hints at a attainable “meme season” pushed by a mixture of components, together with the excitement round MemeMax_Fi, a perp DEX for memecoins, permitting customers to commerce with 100x leverage. Excessive leverage buying and selling carries important liquidation threat and is unsuitable for many retail merchants.
“What I like about @MemeMax_Fi is the way it understands consideration as capital,” dealer @ken_w3b3 said in a latest X put up, including:
“Memes aren’t simply tradition right here, they’re liquidity, momentum, and group power rolled into one system.”
Memecoins OI and buying and selling quantity rise sharply
The rise in memecoins on Friday was preceded by a rise in open interest (OI), with PEPE gaining 77% in OI over the past 24 hours to $441 million.
Open interest refers back to the whole quantity of pending by-product contracts that haven’t but been settled. In a futures contract, for each vendor, a purchaser is required to settle the contract.
Associated: Can Solana shed its memecoin image in 2026?
PENGU noticed its OI bounce by over 27% on the day to $90.73 million, whereas DOGE’s OI was standing at $1.71 billion, up about 4.5%.
The chart above additionally revealed a notable improve within the each day buying and selling quantity of memecoins within the derivatives market, with PEPE main the bounce by 402%. General, the each day buying and selling quantity of memecoins has risen 35% prior to now 24 hours to $4.75 billion.
The rise in OI and buying and selling quantity for memecoins often signifies bullish momentum out there as leverage merchants open extra contracts in anticipation of worth will increase.
Technical rally for memecoins
The present bullishness in memecoin costs is preceded by a robust technical construction by TOTAL3, or the overall market cap of all cryptocurrencies excluding Bitcoin (BTC) and Ether (ETH), which has skilled a big rise over the past two days.
The chart under reveals that TOTAL3 has elevated by 22% since Wednesday, to an intra-day excessive of $848 billion on Friday. This rise occurred inside an ascending parallel channel on the four-hour chart, as proven under.
Merchants purchased the dips because the relative energy index (RSI) fell to oversold ranges of 25 in mid-December. The RSI’s studying is at the moment 65, suggesting that dealer curiosity in altcoins is growing as momentum picks up.
If TOTAL3 manages to beat the sturdy resistance at $848 billion, embraced by the triangle’s higher trendline and the 200 SMA, it’ll rise towards the measured goal of the triangle at $900 billion. If this occurs, altcoins, together with main memecoins, might proceed rallying over the subsequent few weeks.
As Cointelegraph reported, crypto sentiment has lastly moved out of the “excessive concern” territory, suggesting that the market is primed for a restoration.
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