TL;DR

One trending cat-themed meme coin soared to a three-month high amid the overall rally of the crypto market and other reasons. Dogecoin, Shiba Inu, PEPE, and others also posted solid gains, while the niche added around $4 billion in value in just one day.

This Meme Goes Vertical

The cryptocurrency market has recorded a notable surge in the past 24 hours, with Bitcoin (BTC) inching closer to the psychological level of $100,000. Most leading altcoins are also well in the green, while the meme coin niche is full of top performers.

An example is the Ethereum-based Mog Coin (MOG), whose valuation exploded by 40% for the day, rising to its highest level since the beginning of February. Its market capitalization exceeded $350 million, placing it among the 15 largest meme coins.

MOG Price, Source: CoinGecko Besides the overall revival of the cryptocurrency sector, there seems to be another factor fueling MOGs latest rally. Some influential figures have recently supported the emerging mog/acc movement, representing a blend of meme culture and tech futurism. The shiny mog glasses have become a visual signature of the trend and are also featured on the logo of the MOG meme coin.

Popular individuals who added such an accessory to their profile pictures on X include Garry Tan, the President and CEO of Y Combinator, and Elon Musk, one of the wealthiest people on the planet. 

Mog/acc means your brain power turns into real prosperity in the real world, Tan recently stated on the social media platform.

The cat-themed meme coin MOG saw the light of day in the summer of 2023, but made the headlines in December last year when it reached an all-time high. The recent resurgence has infused significant enthusiasm across its community, with one X user claiming that a new peak is not a matter of if but instead when.

How Аre the Other Memes Doing?

One will find it quite challenging to spot a meme coin in the red zone for the day. Dogecoin (DOGE) the undisputed leader of the realm is up 6%, currently trading well above $0.18.

Its biggest rival Shiba Inu (SHIB) has risen by 5%, while Pepe (PEPE), Official Trump (TRUMP), Bonk (BONK), Pudgy Penguins (PENGU), dogwifhat (WIF), and many more have recorded double-digit increases.

The sectors market cap has spiked by 8% in 24 hours, and as of this writing, it stands at almost $61 billion. This represents serious progress compared to the sub-$45 billion level witnessed last month, but remains far from the peak towards the end of 2024, when the capitalization exploded above $120 billion.