Bitcoin has surged past the $116,000 mark, driving a wave of positive momentum across the cryptocurrency market. Memecoins such as DOGE, SHIB, and PENGU have experienced significant gains in the past 24 hours, with PENGU rising over 18% and both SHIB and DOGE increasing by approximately 5%. This rally is attributed to Bitcoin's strong performance and heightened retail interest, as traders seek to capitalize on the bullish trend.