Meme coins, digital currencies known for providing significant returns in short durations, have skyrocketed in the past 24 hours, after the crypto market crash over the weekend when Bitcoin (BTC) and Ether (ETH) lost their support zones and crashed to monthly lows.

According to the data from CoinMarketCap, the market capitalization of meme coins rose to $40.5 billion, a 1.6% surge in the past 24 hours. Additionally, the trading volume of all the meme coins in the crypto space stands at $12.4 billion. On the other hand, the total crypto market cap also rose significantly and is now closer to the $2 trillion mark.

The world’s largest meme coin by market capitalization, Dogecoin (DOGE), rose 19.34% in the past 24 hours, followed by a 26.89% surge in the market cap, which currently stands at $14.46 billion. The price of the digital asset at the time of writing stands at $0.09964 with a trading volume of $2.32 billion.

On the other hand, Shiba Inu (SHIB) rose to $0.00001389, a 23.77% increase in price in the past 24 hours. The trading volume of the meme token stands at $812.2 million, printing a 37.65% surge in the past 24 hours. The market cap of the cryptocurrency stands at $8.18 billion.

Other leading meme coins also showed monumental gains with Pepe (PEPE) up 26.04%, trading at $0.058097; Bonk (BONK) up 20.33%, trading at $0.00002042; dogwifhat (WIF) up 23.04%, trading at $1.41; and Floki (FLOKI) up 22.58%, trading at $0.0001244.

Additionally, another popular meme coin, Brett (BRETT), surged a massive 40.14%, outperforming all the meme coins, and is trading at a price tag of $0.09628. Interestingly, 2024 has been the year of Solana-based meme coins with BONK, WIF, and Book of Meme (BOME) showing significant gains. BOME is up almost 20% in the past 24 hours, trading at $0.006771.

It is important to note that if the leading digital assets Bitcoin and Ether maintain the current price levels of $55.7K and $2.5K, respectively, there are significant chances of meme coins experiencing another bullish day.