Meme Coins
Meme Coins Rally Over 40% As Bitcoin Crosses $70,000
Meme coins are rallying sharply, yet investor behavior reveals a notable difference from previous speculative cycles.
1d ago 4,280
BLOCKINSIDERLoadingMeme coins are rallying sharply, yet investor behavior reveals a notable difference from previous speculative cycles.
The crypto market witnessed its first moment of euphoria after months of losses, which can be noted across different sectors. Bitcoin’s rally past $70,000 triggered a surge in many other altcoins.
One specific sector that stood out was meme coins, which collectively grew by nearly 11% in the last 24 hours. However, this rally is not typical as investors have become smarter.
Bitcoin jumped roughly 10.8% over the last 24 hours, breaking through the $70,000 resistance and briefly touching $72,490, its highest level since June 1. The move triggered the largest wave of forced short liquidations in records dating back to 2021, with nearly $3.1 billion in bearish bets erased in 24 hours.
The rally coincided with the U.S. Treasury doubling its bond buyback program to $4 billion, which pushed yields lower and pulled risk appetite back into crypto.
Timing also lined up with a White House meeting between President Trump, SEC Chair Paul Atkins, CFTC Chair Michael Selig, and executives from Coinbase, Ripple, and Kalshi on crypto market-structure rules.
Spot BTC ETFs pulled in $517 million on August 19, the strongest daily inflow in months, with ETH ETFs adding another $189 million. The squeeze itself was concentrated and mechanical, as over $1 billion of BTC shorts closed in roughly an hour alone, which by design clears out the traders positioned against the rally and removes some of the fuel that drove it in the first place.
The effect of the rally was not contained to large-cap tokens alone, as the meme coins’ combined value touched $28.7 billion. Interestingly, despite being normal, this isn’t a typical meme coin behavior.
Capital has largely flown into medium to large cap meme coins as opposed to the previous phases of small cap meme coins, observing massive surges. This shows that the investors are still cautious, and the hyper-bullishness is yet to arrive.
Amongst the top 10 meme coins that rallied, only 4 tokens had a market cap less than $10 million, which is surprising considering meme coin mania tends to push shitcoins to the top quickly.
Nevertheless, the bullishness did not completely remain within the top coins. Capital seeped into launchpads as over 54,300 new meme coins were created in the last 24 hours. This is the largest single-day token creation noted on pump.fun since March this year, marking a 5-month high.
However, the point still stands that the investors were being cautious, as of these 54,300, only 118 tokens successfully graduated. Graduation refers to tokens completing the bonding curve and graduating to an AMM, i.e., it leaves the launchpad's internal trading mechanism and moves onto a real decentralized exchange with an open liquidity pool.
Amongst the best-performing meme coins, three deserve considerable attention.
The first is BOME, which registered the largest rally of 48% over the last 24 hours. BOME is currently standing at $0.00127, nearing a breakout from a double bottom pattern spanned over a 1-week timeframe.
Breaching the $0.00125 resistance is a positive step; however, the meme coin needs to flip it into support to continue this rise. The next major target is $0.00170, crossing which will recover the losses experienced by BOME since October 2025.
Second on the list is PEPE, which shot up by 21% and is currently changing hands at $0.00000314. The reason why PEPE matters is that it is the only token among large-cap meme coins to note massive inflows. Chaikin Money Flow (CMF) shows that institutional inflows are pretty strong for the meme coin.
Furthermore, PEPE has just crossed the 61.8% Fib line at $.0.00000309, which is a major bullish signal. The next target lies at $0.00000337 at the 1.0 Fib line, which would reverse PEPE’s losses since June this year.
The final token on the list is Useless. That’s its name and the given function by the creators, as it is quite useless, but USELESS has managed to post a 28.68% rally in the last 24 hours. In doing so, the meme coin also flipped the 20-day Moving Average into support, the first in a month.
While USELESS is yet to recover its losses from the past 2 months, the meme coin is also far from saturation. Crossing the $0.0469 resistance has put the token on a path for rising towards $0.056, followed by $0.069.
The meme coin presents an opportunity for an extended bull run at the moment, which would be validated upon crossing these barriers.
All in all, the market is looking ripe for now, as BlockInsider highlighted, the major signs of a bull run are yet to appear; until then, the current rally is likely a short-term surge.
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