Prominent meme tokens on Ethereum and Solana ecosystems, such as PEPE and WIF, have rallied significantly, gaining up to 51% in the past 24 hours.
The surge in meme coins is seen as a way to bet on the growth of a blockchain and is spreading to tokens on other networks, with an average gain of 13% in the past 24 hours.
Pepe (PEPE), the frog-themed meme token on Ethereum, was up as much as 51% in the past 24 hours to reach price levels previously seen in May. Bonk, the dog-themed token on Solana, was up as much as 25% before retreating in European afternoon hours on Tuesday. The CD20, a measure of the broader market, added 6%.
The Solana-based Dogwifhat (WIF) zoomed over 65% before giving back some gains. Meanwhile, The CoinDesk 20 Index (CD20), a benchmark for the biggest and most liquid cryptocurrencies, jumped nearly 8%
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Source:- CoinDesk
