The dominance of memecoins in the cryptocurrency market is increasing as various coins post significant gains. $BILLY, a notable memecoin, has seen a 22% increase in the last 24 hours, bringing its market cap to $170 million. Mechanism Capital founder Andrew Kang believes that 98% of altcoins have peaked for the current cycle, with a few exceptions that may reach new highs in late 2024 or early 2025. Memecoins are expected to be among those with potential for new highs. The market has seen coins like $BRETT enter the $2 billion territory, and others like $GIGA and $TURBO have also shown impressive performance, with $GIGA continuing to pump over 30% and $TURBO making a 50% comeback. $CARDI and $BILLY DEV are also notable mentions. The popularity of memecoins is further indicated by their strong community and culture, often outperforming traditional cryptocurrencies like BTC, ETH, and SOL. Other notable memecoins include $RETARDIO, $MOG, $TUZKI, $ANDY, and $PEPE.