The biggest winners in this recent bull run have been the new memecoins that have emerged in the past few months.

Memecoins broke out of a week-long bearish trend among cryptocurrencies, posting double-digit gains in the past 24 hours.

Most memecoins have seen a trend reversal and posted double-digit gains as Bitcoin ( BTC ) struggled to build bullish momentum, hitting a monthly low of $58,554 on June 24. Prior to the current bullish momentum, memecoin was one of the biggest losers in the red cryptocurrency market.

Dogecoin mirrored the broader market, achieving a 2.4% price gain over the past 24 hours. In contrast, Shiba Inu’s gains were minimal, recording just a 0.15% gain on the daily chart. The biggest beneficiaries of this bull run have been primarily the new memecoins that have emerged over the past few months.

Solana-based Popcat (POPCAT) is up 50% on the 24-hour chart, while Mog Coin (MOG) is up 39%.

The recent rise in memecoin prices has not only reversed the market trend, but also helped memecoin get back into the news cycle after many people said the recent drop ended the meme craze.

WIF and Pepe back on track

Dogwifhat (WIF), a memecoin that made headlines after reaching a $4 billion market cap earlier this year, fell to $1.47 earlier this week, its lowest level in months.

However, on June 25, memecoin surged by more than 25%, recovering most of its losses from the past week. The coin surged from a daily low of $1.47 to a daily high of $1.94 and is trading around $1.83 as of this writing.

Besides WIF, PEPE is another major memecoin among the top 50 cryptocurrencies by market cap that has seen double-digit growth in the past 24 hours.

PEPE’s price has risen from a daily low of $0.00001028 to a daily high of $0.00001198, a 13% increase in the past 24 hours. Another popular memecoin this quarter, Floki (FLOKI), has risen by 11%, while Bonk has risen by 16%.