Memecoins experience a resurgence with over 30% increase as Bitcoin reaches all-time high, contributing to DeFi recovery.

A surge in the cryptocurrency market, propelling Bitcoin to a new all-time high exceeding $121,000 on July 9, has sparked significant increases across various altcoins, with memecoins and select DeFi tokens recording daily rises surpassing 30%.

The overall market boost coincides with Ethereum’s strength, surpassing the $2,780 threshold with a 6% increase, supported by institutional interest and expectations of upcoming network enhancements.

This widespread market optimism has been especially effective for meme-based tokens, which frequently serve as high-beta indicators of general crypto sentiment. The Solana ecosystem featured several memecoins among the top performers, such as Popcat (POPCAT) and dogwifhat (WIF), which climbed over 15% and 13% respectively. Other significant gainers in this segment include Brett (BRETT) on the Base network, Snek (SNEK) on Cardano, and MOG Coin (MOG) on Ethereum, all achieving double-digit percentage increases.

The momentum extends beyond smaller tokens; Pudgy Penguins (PENGU), a project originating in the NFT sector, surged by over 30%. On-chain data indicates considerable whale accumulation for PENGU, along with increased demand from South Korean markets and discussions regarding a potential ETF filing, which seem to be crucial factors in its performance.

Another memecoin, Banana For Scale (BANANAS31), saw a rise of more than 26%, driven by a substantial surge in trading volume that propelled it to a new all-time high.

Biggest Gainers snapshot as of press time

In addition to the speculative excitement surrounding memecoins, decentralized finance protocols also exhibited a robust recovery. Euler (EUL), a lending protocol, experienced its token price increase by over 12% to a new high. This rise follows the project’s recent integration with BlackRock’s tokenized asset fund, BUIDL, and the announcement of its upcoming “EulerSwap” on Unichain, indicating renewed investor confidence.

Likewise, Compound (COMP), the established DeFi lending platform, recorded an 11% price rise. Its performance may be associated with recent governance proposals, specifically 210 and 211, which received support from key stakeholders and aimed at modifying interest rate models and reward distributions to enhance platform yields. The total value locked in DeFi has been steadily increasing throughout the month, creating a favorable environment for tokens in the sector.

Several tokens with specific utility narratives also achieved notable gains. ether.fi (ETHFI), a liquid restaking protocol, rose by over 16%. The project is benefiting from the ongoing expansion of the restaking sector, a prominent narrative in 2025, and supports its token price through a revenue-sharing model that finances token buybacks.

Zebec Network (ZBCN), a decentralized payment and infrastructure protocol on Solana, increased by more than 20%. The project’s recent acquisition of Gatenox, a compliance and automation platform, positions it advantageously within the domains of both Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA).

An exception in the list was ai16z (AI16Z), which noted a 12% increase. This price surge occurred despite some analyses suggesting a broader bearish trend for the token, indicating that a short-term pump placed it among the day’s top performers.

The gains reflect a market propelled by a combination of Bitcoin’s record performance, renewed interest in DeFi, and a revived appetite for high-beta memecoins.

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