The recent surge in Bitcoin, briefly touching $68,000, ignited a broader rally across the crypto market. Unexpectedly, meme coins have captured the spotlight, outperforming both Bitcoin and Ethereum over the past week. Cat-themed meme coins, in particular, have experienced a remarkable 8.8% average increase in the last 24 hours. However, this surge is likely attributed to a fraudulent token, Jacky (JACKY), which saw a suspicious 160% spike before revealing signs of a liquidity drain.

Despite this, other cat-themed coins like Catcoin (CAT) and CatSolHat (SOLCAT) have recorded substantial gains of 60% and 76.6% respectively. Additionally, hehe (HEHE) maintained its upward momentum with a 50.2% daily growth, adding to its impressive 216% increase over the past week.

The Solana meme coin ecosystem has also seen a significant uplift, driven by doginapool (DIP), which surged 263% in 24 hours. Overall, meme coins have outperformed Bitcoin and Ethereum by 5% and 9.3% respectively over the past week, although they still lag behind Solana's performance.

This recent rally echoes previous trends. In March, meme coins like PEPE, Dogecoin, and BONK experienced significant growth, with PEPE soaring by 35.6%. Another surge occurred in May, driven by speculation around a potential spot Ethereum ETF, with meme coins gaining up to 161%.

While the current rally is impressive, it's essential to approach meme coins with caution due to their inherent volatility and the potential for scams. Investors should conduct thorough research and consider the risks before allocating funds to this speculative asset class.