BRETT, FLOKI, WIF lead meme coin recovery

• BRETT surged over 30% shortly after the listing of Binance Futures.
• FLOKI posted over 10% gains after an announcement that holders will receive CAT meme token airdrop.
• WIF and other top meme coins are trading in the green as the meme market looks set to start a recovery.

BRETT led the entire meme coin market to recovery on Tuesday after the Binance exchange listed a perpetual futures contract for the Layer 2 meme token.

Meme coin market on track for recovery following recent gains

According to CoinGecko data, the meme coin market capitalization has increased by more than 4% in the past 24 hours, after positive developments around several top meme tokens sparked a green day for the sector:

BRETT surged 36% in the early hours of Tuesday after Binance announced it would launch a USD perpetual margin futures contract for the meme currency. Following the announcement, BRETT’s social volume rose to its highest level since January. BRETT saw a correction at the pump, settling around $0.088 with a 16% gain.

Crypto trader @MaxBecauseBTC believes BRETT can reach a market cap of over $10 billion if Ethereum sees massive growth in the current cycle. This is likely because BRETT hit an all-time high of $0.193 in early June after ETH rebounded following news of the Securities & Exchange Commission (SEC) returning to approve Ethereum spot ETFs.

FLOKI is the second best performer among the top meme coins, rising to $0.0001318 after announcing that its holders will receive 20% of the Simon’s Cat (CAT) meme token offering. FLOKI is currently trading around $0.0001263, up nearly 10% on the day.

Top Coins Meme

Solana meme coin dogwifhat (WIF) is also benefiting from the positive sentiment surrounding the meme market, as its price rose over 9% on Tuesday. The increase in WIF occurred despite a slight decrease in Solana. This indicates that the meme coin can create its own path, reducing the over-reliance on SOL price movement.

Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE have also seen gains of over 3% each in the last 24 hours.