The meme coin market has shown signs of recovery in early 2026, with total market capitalization rebounding to nearly $50 billion after a prolonged decline from $80 billion to $35 billion. This resurgence marks a shift in market dynamics, with classic meme coins like Doge, Shiba, and Pepe experiencing significant gains. Pepe, in particular, surged over 70% in the past week, with a 24-hour trading volume reaching approximately $1.1 billion. The market share of meme coins within the altcoin sector also increased, rising from a historical low of 3% to about 4%. This trend suggests a renewed interest in established meme coins over newer, smaller-cap alternatives. The rise of meme coins is seen by some as a potential indicator of a broader bull market, reminiscent of past cycles where meme coins led market rallies. Additionally, new meme coins like "114514" have emerged, capturing attention with rapid gains. The meme coin market's recovery is viewed as a potential precursor to a comprehensive bull market, with classic meme coins and new entrants both playing significant roles.