🚀 Meme coins like PEPE, SHIB and DOGE are surging, with gains of up to 26% in the last 24 hours! This growth is attributed to a “spillover effect” from the rise of Bitcoin and Ethereum. Traders have been using meme coins as an indirect bet on Ethereum's growth since late February.

- Pepecoin (PEPE) is up 26%, while DOGE and SHIB are up 10%

- CoinGecko's meme coin category showed industry growth of 8.6% on average

- Ethereum (ETH) is inching closer to $4,000, a level it previously reached in December 2021.

Experts believe that as Bitcoin and Ethereum rise, the currencies implemented on Ethereum and Solana also rise, including meme coins. However, some warn that a transition back to "fundamentally driven" altcoins can be expected in the short to medium term.

What do you think about the recent rise of meme coins? Share your thoughts in the comments below! 💭