Memecoins such as FARTCOIN, POPCAT, and MOG witnessed substantial gains as investors adopted a risk-taking attitude following former President Donald Trump’s announcement to relax certain stringent tariff regulations, prompting a wider market rally.
As reported by CoinGecko, Fartcoin (FARTCOIN) surged by 43.5%, reaching a 10-week peak market cap of $731 million. Not far behind were Popcat (POPCAT), Ket (KET), and Mog Coin (MOG), which saw increases of 28.6%, 26.2%, and 24.1%, respectively.
Even well-established cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB) experienced upward movement—DOGE climbed by 9.5%, SHIB rose by 10.5%, and PEPE ascended by 9.5%. In total, the memecoin market experienced a 10.6% upswing over the last 24 hours, elevating the total market cap to $46.8 billion.
The rally was ignited when Trump declared on April 9 via Truth Social that he would pause his recently announced aggressive tariff strategy for 90 days, and he also temporarily reduced the reciprocal tariff to 10% while trade negotiations are ongoing.
Just a week prior, Trump had imposed a universal 10% tariff on all imports and announced plans to increase tariffs on goods from 57 countries starting April 9. Despite the recent pause, tariffs on Chinese imports rose to 125%, escalating tensions between the U.S. and China.
This said, China’s Commerce Minister, Wang Wentao, expressed willingness to engage in negotiations to resolve issues, providing some reassurance to investors. As a result, there has been a noticeable shift towards a risk-taking approach, with the Crypto Fear and Greed Index increasing ten points to 25.
Memecoins thrived alongside Bitcoin (BTC), which continues to assert its position as the dominant market force with a 62.6% market share as it surpassed $83,000, while Ethereum (ETH), the leading altcoin, rose back above $1,600. Overall, the crypto market cap gained 5%, reaching $2.68 trillion during this timeframe.
Nonetheless, with Bitcoin’s dominance remaining strong, many analysts concur that a genuine altcoin season—characterized by capital shifting towards altcoins and sustained, independent rallies for memecoins—won’t commence until BTC relinquishes some of its control.
Disclosure: This article does not constitute investment advice. The information and materials provided on this page are for educational purposes only.