In brief
- Meme coins Pepe, Bonk, and Shiba Inu led a speculative charge, with double-digit gains, as Bitcoin pushed above $90,000.
- Macro factors like rate cuts could fuel a “risk-on” 2026, but some have warned meme coin rallies are poor signals due to low liquidity.
- Market sentiment remains split, with prediction market optimism at a 2026 high while the broader Crypto Fear & Greed Index stays in “Fear.”
Meme coins are surging amid renewed interest in the sector, as Bitcoin continues to grind higher for the start of the year.
Leading the charge are Bonk, Pepe, and Shiba Inu, posting 24-hour gains of over 20%, 14%, and 10%, respectively, according to CoinGecko data. On a weekly basis, however, Pepe leads with a 70% rally, followed by Bonk at 48% and Dogecoin at 22%.
The resurgence in crypto’s riskier assets coincides with a stabilizing Bitcoin.
The top crypto has closed higher for four consecutive days, pushing past the pivotal $90,000 mark after several failed attempts in late 2025.
Bitcoin’s drive this time, however, is backed by a substantial uptick in the aggregated open interest, which has surged to $31.44 billion, a six-week high, according to CryptoQuant.
Sustained rate-cutting cycle, disinflation, and new U.S. access to strategic resources like Venezuelan oil as factors that could be coalescing to support risk assets, according to Derek Lim, head of research at crypto market-making firm Caladan.
“All the above when viewed in tandem may prelude to a shift towards a more risk-on sentiment in 2026,” Lim told Decrypt. “Perhaps the current price movements are attempting to price all these in.”
He urged caution, however, in interpreting the meme coin rally as a definitive signal.
“I will hesitate to read this as the market shifting into a more risk-on mode,” Lim said. “Meme coin pumps can be relatively easily manufactured by a multitude of factors, such as low liquidity, extremely low float, so it may not necessarily represent any larger shifts in momentum/attitudes with regard to the broader market.”
Retail sentiment mirrors that cautiously optimistic stance.
Users on prediction market Myriad—owned by Decrypt’s parent company, Dastan—now assign an 82% chance that Bitcoin hits $100,000 before $69,000, up from 62% at the start of the year.
The recovery is not limited to meme coins; other top altcoins, including Hyperliquid, Hedera, Aster, and XRP, have also surged by roughly 5% over 24 hours.
Still, the Crypto Fear & Greed Index suggests that, despite the hot streak in meme coins, the broader psychological recovery from the 2025 downturn is not yet complete.
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