Meme coins are back in the spotlight: Dogecoin surged by 8.06%, Shiba Inu by 6.29%, followed by a wave of other joke-based tokens.

As the broader crypto market hits new highs, meme coins are seeing particularly explosive growth. Dogecoin rose more than 5.5% in the past 24 hours, bringing its market cap to $28.7 billion, while Shiba Inu gained 4.8% to reach nearly $7.7 billion.

But it’s not just about DOGE and SHIB. The meme coin sector as a whole is booming, with a total market cap exceeding $68 billion. PEPE jumped 8.2%, BONK added 10.3%, while FARTCOIN and PENGU soared 13.4% and 26.6%, respectively.

Bitcoin’s breakout above $116,000, massive short liquidations, and a wave of market mania are fueling interest in cheap and viral assets. Retail traders, drawn by low prices and cult-like communities, are diving in — hoping to ride the wave following BTC’s rise.

We’ve seen this before: DOGE and SHIB led the market in the last bull run, and now we’re seeing déjà vu.