Shiba Inu, Dogecoin, and Pepe Drive Meme Sector Boom as Bitcoin and Ethereum Rally

By Cheryl L.

Quick Note:

• Meme sector surged 7.18% in 24 hours

• The AI sector followed with a 6.15% gain

• Bitcoin (BTC) rose 1.78%, briefly surpassing $88,000.

• Ethereum (ETH) climbed 4.04%, reclaiming the $2,000 level.

According to data from SoSoValue, the cryptocurrency market experienced broad gains over the past 24 hours leading up to 3 a.m. UTC on March 25, with the Meme sector leading the charge for the second consecutive day. The Meme sector posted a 7.18% increase, followed closely by the AI sector, which gained 6.15%.

Within the Meme sector, major tokens such as Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) saw significant price increases of 6%, 8.24%, and 10.10%, respectively. Meanwhile, the AI sector also rallied, with notable performances from Bittensor (TAO) (+4.92%), Render (RENDER) (+8.20%), Fetch.ai (FET) (+7.21%), and Worldcoin (WLD) (+12.25%).

Bitcoin and Ethereum Gain Momentum

In the broader market, Bitcoin(BTC) rose 1.78%, briefly surpassing the $88,000 mark, while Ethereum (ETH) climbed 4.04%, reclaiming the $2,000 level. Beyond these leading cryptocurrencies, sector-specific indices also showed notable gains. The MAG7.ssi index, which tracks the performance of seven major cryptocurrencies, increased by 3.17%. Meanwhile, the DEFI.ssi index, reflecting the DeFi sector's performance, rose by 4.46%, and the MEME.ssi index, driven by the Meme sector's strong rally, surged by 6.91%.

Sector-Specific Performance

Several other sectors also posted robust gains:

• DeFi Sector: Up 5.15%, with standout performance from Ethena (ENA) (+7.38%).

• RWA (Real-World Asset) Sector: Up 5.72%, led by Pendle (PENDLE) (+9.66%).

• Layer 2 Sector: Up 3.95%, with Arbitrum (ARB) and ImmutableX (IMX) rising 7.16% and 7.39%, respectively.

• Layer 1 Sector: Up 3.58%, driven by Sonic (S), which surged 11.69%.

• CeFi Sector: Up 2.32%, with a standout performance from Cronos (CRO), which soared 23.36%.

• PayFi Sector: Up 1.28%, reflecting moderate gains.

Index Highlights

Indices tracking historical performance of various sectors also showed strong gains over the past 24 hours. The top-performing indices were:

• ssiMeme Index: Up 7.52%, reflecting the rally in the Meme sector.

• ssiRWA Index: Up 6.62%, driven by gains in the Real-World Asset sector.

• ssiAI Index: Up 6.04%, highlighting strength in AI-related tokens.

The widespread gains across multiple sectors underscore the growing bullish sentiment across the market as major cryptocurrencies continue to recover from recent price consolidations. The Meme and AI sectors’ leadership in this rally reflects renewed investor interest in speculative and innovative blockchain projects. Additionally, the strong performance of Bitcoin and Ethereum signals a potential recovery phase for major cryptocurrencies, further fueling optimism in the market.