Memecoin Frenzy Reaches a Crescendo on Back of Bitcoin Rally (1)

It’s memecoin season in the digital-asset market, once again.

Some of the most speculative cryptocurrencies introduced in the past few years are trading at record highs. And old favorites such as Dogecoin are outperforming Bitcoin while the original digital asset approaches its peak price reached during the pandemic-fueled rally more than two years ago.

Pepe, a frog-themed coin, and Dogwifhat — yes, a dog pictured wearing a hat — have been racking up fresh highs almost daily, according to data tracker CoinGecko. With most memecoins trading around a dollar or less, traders are piling into futures on 1,000 tokens ...