The memecoin market is experiencing significant growth with PEPE and BONK breaking into the top 50 coins by market cap. DOGE and SHIB are also rallying. PEPE has climbed to the top 40 coins with a market cap of $3.1 billion. Memecoins like DOGE, SHIB, PEPE, BONK, and WIF are driving the market's total market cap to $56 billion, expected to surpass $500 billion this cycle. Meme coins are gaining traction in the crypto market, with PEPE and BONK showing explosive growth.