Meme coins are low-key back to start the year, with pepe taking the early lead in 2026 gains
The meme-based pepe is the fastest horse in the crypto race in the new year so far, with the price of the cryptocurrency increasing 34% in the last 24 hours.
The price swing resulted in the liquidation of nearly $9.9 million worth of pepe short positions in the last 24 hours, data from CoinGlass shows.
The frog-based coin has seen a 24-hour trading volume of nearly $1.6 billion and is not the only meme coin outpacing the broader crypto market.
Dogecoin, shiba inu, and PUMP have each risen between 8.4% and 10.9% in the last 24 hours, joining pepe as the top gainers in the period, a sign of life for meme tokens, which as a category lost more than half their value last year.