Memecoins like FARTCOIN, POPCAT, and MOG experienced significant gains following President Donald Trump’s decision to temporarily suspend his aggressive tariffs. This move sparked a wider rally in the crypto market. According to CoinGecko data, Fartcoin (FARTCOIN) surged by 43.5%, reaching a 10-week high market capitalization of $731 million. POPCAT, Ket (KET), and Mog Coin (MOG) followed closely behind, jumping 28.6%, 26.2%, and 24.1% respectively. Even established cryptocurrencies such as Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE saw a positive impact, with DOGE rising by 9.5%, SHIB gaining 10.5%, and PEPE climbing 9.5%. This memecoin market surge reached a 10.6% increase in the last 24 hours, bringing the total market cap to $46.8 billion. 2023 has seen many gains for these cryptocurrencies. The rally began after Trump announced on April 9th via Truth Social that he was pausing his recently imposed tariffs for 90 days. He also lowered reciprocated tariffs from 10% while negotiations continue. However, tariffs on Chinese imports rose to a steep 125%, adding tension between the U.S. and China. 3 weeks earlier on April 9th, Trump had placed a universal 10% tariff on all imports and planned to increase tariffs on goods from 57 countries starting then. Despite the pause, these tariffs did increase for Chinese imports. However, China’s Commerce Minister, Wang Wentao, said they were open to resolving issues through negotiations, which helped ease investor concerns. This sentiment led to a rise in risk-on behavior as the Crypto Fear and Greed Index increased by ten points to 25. Memecoins rose alongside Bitcoin (BTC), which continued to dominate the market with a 62.6% market share, climbing past $83,000, while Ethereum (ETH) regained its position above $1,600. The total crypto market cap recovered by 5%, reaching $2.68 trillion in the same period. While Bitcoin’s dominance remains strong, most analysts believe a true altcoin season – where capital shifts into alternative coins like Ethereum and memecoins – won’t fully begin until BTC weakens its hold on the market.