Meme Coin Market Explodes: TURBO, DOGE, SHIB Lead 16% Sector Surge as Crypto Market Reclaims $3 Trillion Cap

After months of underperformance, the sector roared back to life with a massive 16% surge in market capitalization over the past 24 hours. According to data from CoinGecko, meme coin market cap soared to nearly $58 billion, igniting new momentum across the entire crypto space.

The resurgence comes as Bitcoin (BTC) crosses the $94,000 threshold and the total crypto market cap reclaims the psychological milestone of $3 trillion, reinforcing bullish sentiment across altcoins—and meme coins in particular.

TURBO, PENGU, and WIF Dominate Gains

Among the top 20 meme coins, nearly all posted double-digit percentage gains. The standout performer was Turbo (TURBO), which exploded by 70%, peaking at $0.00426, a level not seen since early February.

Other notable climbers include:

• PENGU: +41%
• WIF (dogwifhat): +28%
• BONK: +25%
• FLOKI: +17%

This surge underlines the meme coin sector’s signature volatility—and its ability to outperform in bullish conditions.

DOGE and SHIB Reignite With Fresh Bullish Targets

Dogecoin (DOGE) and Shiba Inu (SHIB)—the original giants of the meme coin world—have joined the rally.

DOGE jumped 10.5% in the past 24 hours, now trading around $0.18. The move may have defused the risk of a deeper correction. Earlier this week, analyst Ali Martinez warned of a potential drop to $0.06 if Dogecoin failed to reclaim support at $0.17. Today’s rally puts that threat on pause.

Meanwhile, crypto influencers are turning up the volume on bullish predictions:

• @WorldOfCharts expects DOGE to surge toward $0.40 in the near term
• @CryptoKaleo is eyeing a potential move all the way to $1

SHIB also showed strength, rising to $0.00001387—its highest price since late March. This rekindles hopes for another leg up as sentiment returns to the meme sector.

Why Meme Coins Are Surging Now

The timing of this rally aligns closely with broader market strength. Bitcoin’s dominance has hit a 4-year high at 61.6%, confirming strong institutional confidence in BTC. Historically, when BTC leads a rally, meme coins often follow as traders rotate profits into higher-risk assets.

Furthermore, the liquidation of over $320 million in short positions across the crypto derivatives market—mostly against BTC and DOGE—has added fuel to the upside momentum.

What’s Next for Meme Coins?

If Bitcoin continues to lead the market upward, meme coins could ride the wave to new all-time highs. However, traders should remain cautious: while the current breakout is promising, meme coins remain highly sensitive to shifts in sentiment.

Still, the energy is back—and meme season may just be heating up.