The rally in cryptocurrencies has extended to memecoins, with the prices of some of the most speculative digital assets more than doubling in the past week.
Dog and cat-themed memecoins have posted some of their biggest gains in years as investors' risk appetite grows.
Cash Cat (CRYPTO: $CASHCAT) has led the rally in memecoins, rising 51% in 24 hours to trade at $0.218 U.S. per token.
• MEXC's August 2026 Proof of Reserves Confirms User Assets Fully Backed as Reserve Ratios Remain Above 100%
• HYPE Jumps 17% After Trump Backs CFTC Path for Hyperliquid in U.S.
In the past week, Cash Cat's price has gained 113%, lifting its market value to $215 million U.S.
Other cat-themed tokens have also broken out. In the last week, Thinking Cat (CRYPTO: $HMM) has risen 131%, Purr (CRYPTO: $PURR) is up 93%, and Popcat (CRYPTO: $POPCAT) has jumped 54% higher.
The same pattern is showing up among dog-themed memecoins, with Bonk (CRYPTO: $BONK) and Floki (CRYPTO: $FLOKI) each gaining more than 40% since Bitcoin (CRYPTO: $BTC) began rallying a week ago.
The largest memecoins are also gaining ground, with Dogecoin (CRYPTO: $DOGE) and Shiba Inu (CRYPTO: $SHIB) each up more than 30% in recent days.
Memecoins are cryptocurrencies built around internet jokes or communities rather than a traditional business.
Prices for memecoins tend to react strongly when traders become willing to take risks, making the smaller tokens a useful gauge of investors' speculative appetite.
Analysts say the latest moves show that the rally in Bitcoin and Ethereum (CRYPTO: $ETH) is extending to memecoins and digital assets that have thinner liquidity.
The rally in memecoins comes as the Crypto Fear & Greed Index jumps to a level of 75, its highest since the digital asset market peaked last October.
A week ago, the Crypto Fear & Greed Index was sitting at a level of 30.