SHIB Price Adds 12% Overnight as Meme Cryptos Recovering

As the cryptocurrency market is rocketing on the CPI announcement, the potential end of the Ripple v. SEC legal battle and the upcoming U.S. presidential inauguration, meme coins have yet again stolen the spotlight. Segment capitalization added almost 10% and targets the $120 billion level.

Shiba Inu (SHIB) rallies by 12%, DOGE, BONK and PEPE follow

Shiba Inu (SHIB), major dog-themed cryptocurrency, is among the drivers of the cryptocurrency market surge today. Shiba Inu's (SHIB) price jumped by almost 12% and hit $0,00002426. The capitalization of the 15th largest altcoin touches $14.5 billion.

Shiba Inu (SHIB) is not the only meme coin on the top gainers' list. Dogecoin (DOGE), the first meme crypto, adds over 9% as the DOGE price jumps over $0.41. Dogecoin's (DOGE) market cap surged by $6 billion overnight.

Pepe (PEPE), another large community-driven meme coin, surges to $0.00002004. With a $8.4 billion market cap, the first frog-themed coin is back in the top 30 cryptos.

In 24 hours, Bonk's (BONK) price increased by 9.5%. Its price hit $0.00003162, while its capitalization targeted $2.5 billion.

XRP, XLM today only top cryptos in red

Last but not least, Floki (FLOKI) spiked by 7.7%. The FLOKI price reached $0.0001812 as the market cap targets $1.8 billion.

Amid surging optimism in the altcoin segment, almost all of the top 100 cryptocurrencies are in the green. However, after an inspiring price surge, XRP and its rival, XLM, are down by 0.2-0.3% each. In addition, Virtual Protocol (VIRTUALS), Hyperliquid (HYPE) and XDC Network (XDC) are losing value today.

Today, the market benchmark added 4.3%, while Bitcoin (BTC), the largest cryptocurrency, is trying to reconquer $105,000.