#CryptoMarketPredictions #AreyoubullishonBNB
PEPE, BONK, and DOGE are rising, as the market value of meme cryptocurrencies approaches $39 billion
The market capitalization of meme cryptocurrencies rose by 8% in the last 24 hours, reaching its highest level in two weeks, while open interest and trading volume surged sharply.
On Friday, meme cryptocurrencies like Pepe, Bonk, and Dogecoin were among the best performers, making significant profits on the eve of 2026.
The market capitalization of meme cryptocurrencies rose by 8% to $39.45 billion, reaching the highest level in two weeks and indicating strong demand.
PEPE led the increase at 23.6%, followed by BONK at 10% and DOGE at 8%, supported by interest from influencers and ambitious forecasts for 2026.
The growth of open interest in meme cryptocurrencies over the last 24 hours reflects an increase in bullish bets.
The market value of meme cryptocurrencies increased by $3 billion.
The recent price increase of meme cryptocurrencies, triggered by the founder of Ethereum shifting to NFT memes, pushed the total market value to a two-week high of $39.45 billion on Friday.
The market capitalization of meme cryptocurrencies last exceeded $39 billion on December 20. The total market value of digital assets in this sector increased by 8% over the last 24 hours.
The Ethereum-based meme currency PEPE led the increase, rising by 23.6% in 24 hours. Its Solana-based competitor BONK rose by 10% daily, while DOGE, the largest meme currency by market capitalization, increased by 8% over the same period.
While this metric is not a precise "war", it indicates a potential "meme" season that depends on several factors, including activity around perpetual contracts on meme currencies, allowing users to trade with leverage up to 100 times.
Before the rise of meme cryptocurrencies on Friday, there was an increase in open interest, which rose by 77% over the last 24 hours and reached $441 million.
Open interest indicates the total number of derivative contracts that are still open. In a futures contract, there must be a buyer who closes the contract against a seller.
Open interest for PENGU increased by more than 27% in a day, totaling $90.73 million, while DOGE's open interest rose by approximately 4.5% to reach $1.71 billion.
The chart above also shows a significant increase in daily trading volume of meme cryptocurrencies in the derivatives market, where PEPE led the increase at 402%. The total daily trading volume of meme cryptocurrencies over the last 24 hours rose by 35%, reaching $4.75 billion.
The increase in open interest and trading volume of meme cryptocurrencies indicates bullish momentum in the market as investors open more contracts in hopes of price increases.
The current price increase of meme cryptocurrencies is supported by TOTAL3, which reflects the total market value of all digital assets except Bitcoin and Ethereum, and demonstrates a strong technical structure over the past two days.
The chart shows that TOTAL3 increased by 22% since mid-Wednesday, reaching a peak of $848 billion on Friday. This increase occurred within an ascending parallel channel, as shown below on the four-hour chart.
Investors bought on dips when the relative strength index (RSI) fell to an oversold level of 25 in mid-December. The RSI is currently at 65, indicating a shift in investor interest towards altcoins with increasing momentum.
If TOTAL3 can break above strong resistance at $848 billion, marked by the upper line of the wedge and the 200-day simple moving average (SMA), it could rise to a target size of the wedge at $900 billion. If this happens, altcoins, including major meme currencies, may continue their recovery in the coming weeks.
Finally, the overall sentiment in the cryptocurrency market has emerged from the "extreme fear" zone, indicating the market's preparation for recovery.
