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The PEPE market cap reaches a two-week high as the stock soars by 23%

Altcoins By
DeFi Development Corp mirrors Saylor’s Bitcoin buys - Is Solana
DeFi Development Corp mirrors Saylor’s Bitcoin buys - Is Solana

Memecoins like Pepe (PEPEBonkBONKDogecoin is a cryptocurrency (DOGE() was among the top-performing cryptos on Friday. It posted significant gains, as the market prepared for 2026. 

The key takeaways

  • Memecoin’s market capital jumped by 8% in the last two weeks to reach $39.45 billion. This is a new high and indicates strong demand. 

  • PEPE topped the list with gains of 23.6%. BONK gained 10% and DOGE added 8%. The rise was fueled by hype from influencers, along with bold predictions about 2026.

  • Open interest in Memecoin has increased over the past 24-hours, indicating a growing number of bullish bets.

Memecoin market cap adds $3 billion

Latest rise in memecoin Prices has seen total market cap reach a 2-week high of 39.45 billion dollars on Friday, as Ethereum cofounder Vitalik Buterin changed his profile photo to a NFT meme.

Last time, the market capitalization of memecoin was over $39 billion on December 20. In the past 24 hours, this market has seen a 8% increase in its aggregate value.

Memecoin daily trading volume and market capitalization. Source: CoinMarketCap

PEPE, an Ethereum-based memcoin, topped the list of gains with a gain of 23.6% within the last 24-hours. BONK, Pepe’s competitor on Solana and the biggest memecoin in terms of market capital, registered 10% gains daily, while DOGE jumped by 8%.

Top memecoins’ price performance. Source: CoinMarketCap

This performance is not an actual rally but it does hint at one. “meme season” MemeMax_Fi is a DEX that allows traders to use 100x leverage. 

“What I like about @MemeMax_Fi is how it understands attention as capital,” trader @ken_w3b3 said In a recent X posting, add:

“Memes aren’t just culture here, they’re liquidity, momentum, and community energy rolled into one system.”

Memecoins trading volume and OI are on the rise.

An increase in the number of bitcoins was seen on Friday, but this rise had been preceded by a similar growth in open interest PEPE has seen a 77% increase in its OI during the past 24 hours, to $441 millions.

Open interest Refers to all derivative contracts in progress that haven’t been settled. A futures contract requires that for each seller, there be a buyer to complete the contract.

Related: Can Solana shed its memecoin image in 2026?

PENGU’s OI jumped by 27% to $90.73 Million, DOGE’s OI grew about 4%, and both were up from the previous day.

Dogecoin, Cryptocurrencies, Markets, Market Analysis, Altcoin Watch, Memecoin, Pepe
Memecoin OI Chart. Source: CoinGlasThe s

In the chart, we can also see a significant increase in daily trading volumes of memecoins on the derivatives markets. PEPE led the way with a 402% jump. In total, daily trading volumes of memecoins have risen by 35 percent in the past 24-hours to $4.75billion.

Memecoin’s rise in OI, trading volume and price usually indicate a bullish market momentum as traders who use leverage open up more contracts to anticipate a higher price.

The technical rally of memecoins

Total3, which is the total value of all cryptocurrency excluding Bitcoin and represents TOTAL3, has been a leading indicator for memecoin’s current price bullishness.BTCEtherETHThe price of ) has increased significantly over the last couple days.

This chart shows TOTAL3 increasing by 22 % since Wednesday. It reached an intra-day peak of $848 Billion on Friday. As shown in the chart below, this increase occurred along a parallel ascending channel.

The relative strength index (RSIThe RSI reached a reading of 65 in mid-December. The RSI is 65 at the moment, which indicates that interest is growing in altcoins.

Source: Cointelegraph/ Total cryptomarket cap excluding BTC & ETH. Source: Cointelegraph/TradingView

The triangle will reach its measured goal of $900 Billion if TOTAL3 can overcome the $848 Billion strong resistance, represented by the upper trendline, the 200 SMA and the Triangle’s upper tendency line. Altcoins including the major memecoins may rally over the coming weeks if this occurs.

You can also read about the advantages of using Cointelegraph reportedCrypto sentiment is finally moving out of the mainstream “extreme fear” The market may be primed to recover if it reaches this territory.