Meme Coins DOGE, SHIB, PEPE, WIF, and FLOKI Start Recovering from the Recent Correction in the Crypto Market

Meme coins DOGE, SHIB, PEPE, WIF, and FLOKI have started recovering from the recent correction in the crypto market.

Meme coins like DOGE, SHIB, PEPE, WIF, and FLOKI have started recovering from the recent downturn in the crypto market. CoinGecko data shows that DOGE and PEPE clocked gains of over 17% and 13%, respectively, in the last 24 hours.

A legal expert has said that the Securities and Exchange Commission (SEC) is likely to be drawn to meme coins, which were the most profitable category of crypto in Q2 2024.

The top five meme coins in the category have started their recovery, as seen by the 24-hour gains on CoinGecko. Dogecoin, Shiba Inu, Pepe, Bonk, Dogwifhat, and Floki started their recovery, posting between 1% and 17% gains in the past 24 hours.

CoinGecko data shows that meme coins added between 1% and 17% to their value in the past 24 hours as Bitcoin recovered from the recent correction.

Bitcoin sustains above $57,000 on Tuesday as meme coins extended gains and traders slowly turned profitable on positions that were underwater for the past week.

Coinglass data showed that Open Interest in Dogecoin increased by 2.37% on Tuesday, which was the highest increase in OI among the top meme coins.

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