Memecoins like PEPE, BONK, and DOGE surged on Friday, with a market cap hitting $39.45 billion, up 8% in 24 hours. PEPE led gains at 23.6%, BONK at 10%, and DOGE at 8%, driven by influencer hype and bullish 2026 predictions. Open interest in memecoins also spiked, indicating growing bullish bets.

The memecoin market cap reached a two-week high of $39.45 billion, with Vitalik Buterin’s profile picture change to a meme NFT. PEPE led gains with 23.6%, BONK at 10%, and DOGE at 8%. The rise points to a potential “meme season” with factors like MemeMax_Fi’s perp DEX for memecoins.

PEPE’s open interest surged 77% to $441 million in 24 hours, with PENGU up 27% to $90.73 million and DOGE at $1.71 billion. Memecoin trading volume also rose by 35% to $4.75 billion, indicating bullish momentum in the market.

The total market cap of memecoins excluding BTC and ETH rose by 22% to $848 billion, showcasing a strong technical rally. If TOTAL3 surpasses the $848 billion resistance, it could reach $900 billion, leading to continued rallies for major memecoins. Crypto sentiment has shifted from “extreme fear,” signaling a potential market recovery.

Read more at Cointelegraph: PEPE Soars 23% as Market Cap Hits Two-Week High