diff --git a/packages/perps-controller/CHANGELOG.md b/packages/perps-controller/CHANGELOG.md
index a8cfc9878c5..37b2a916fa5 100644
--- a/packages/perps-controller/CHANGELOG.md
+++ b/packages/perps-controller/CHANGELOG.md
@@ -7,6 +7,12 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+### Added
+
+- Add `MarketCategory.Memecoin` (`'memecoin'`) as a new UI-only filter category and expose it via `MARKET_CATEGORIES` and `MarketTypeFilter` ([#10168](https://github.com/MetaMask/core/pull/10168)).
+  - Derived in `matchesCategory` from a non-HIP-3 crypto market carrying the `'memecoin'` tag.
+  - Overlaps with the `'crypto'` filter by design — memecoin markets appear under both pills.
+
 ### Changed
 
 - Bump `uuid` from `^8.3.2` to `^9.0.1` ([#10117](https://github.com/MetaMask/core/pull/10117))
diff --git a/packages/perps-controller/src/types/index.ts b/packages/perps-controller/src/types/index.ts
index 6b6be5d701b..70efbd4380e 100644
--- a/packages/perps-controller/src/types/index.ts
+++ b/packages/perps-controller/src/types/index.ts
@@ -92,6 +92,7 @@ export enum MarketCategory {
   Etf = 'etf',
   Commodity = 'commodity',
   Forex = 'forex',
+  Memecoin = 'memecoin',
 }
 
 export type MarketType = `${MarketCategory}`;
@@ -118,6 +119,7 @@ export type TerminalAssetMetadata = {
 export type MarketTypeFilter =
   | 'all'
   | 'crypto'
+  | 'memecoin'
   | 'stock'
   | 'pre-ipo'
   | 'index'
@@ -127,13 +129,19 @@ export type MarketTypeFilter =
   | 'new';
 
 /**
- * Ordered list of the 7 data-model market categories for UI pills.
+ * Ordered list of data-model market categories for UI pills.
  * Does not include the 'all' or 'new' sentinel values — those are applied
  * via dedicated UI controls, not the category pills.
+ *
+ * Note: 'memecoin' is a derived category (marketType === 'crypto' &&
+ * tags.includes('memecoin')). It overlaps with 'crypto' by design —
+ * memecoins appear under both pills.
+ *
  * Kept in sync with {@link MarketTypeFilter} via `satisfies`.
  */
 export const MARKET_CATEGORIES = [
   'crypto',
+  'memecoin',
   'stock',
   'pre-ipo',
   'index',
diff --git a/packages/perps-controller/src/utils/marketUtils.ts b/packages/perps-controller/src/utils/marketUtils.ts
index 5dfd7f7b140..3f2f48310be 100644
--- a/packages/perps-controller/src/utils/marketUtils.ts
+++ b/packages/perps-controller/src/utils/marketUtils.ts
@@ -67,6 +67,16 @@ export function matchesCategory(
     case 'crypto':
       // Main-DEX markets, plus HIP-3 assets explicitly typed as CryptoCurrency.
       return !isHip3Market(market) || market.marketType === 'crypto';
+    case 'memecoin':
+      // Derived category: a crypto market that carries the 'memecoin' tag.
+      // Aligned with the 'crypto' case above so tagged main-DEX markets
+      // still match when their marketType is unset (the common
+      // provider-sourced shape prior to Terminal enrichment). Overlaps
+      // with 'crypto' by design — memecoins appear under both pills.
+      return (
+        (!isHip3Market(market) || market.marketType === 'crypto') &&
+        (market.tags?.includes('memecoin') ?? false)
+      );
     default:
       // Every other filter is a 1:1 data-model category match.
       return market.marketType !== undefined && market.marketType === category;
diff --git a/packages/perps-controller/tests/src/PerpsController.market-filtering.test.ts b/packages/perps-controller/tests/src/PerpsController.market-filtering.test.ts
index 464a64f5d57..fb0345c2f2f 100644
--- a/packages/perps-controller/tests/src/PerpsController.market-filtering.test.ts
+++ b/packages/perps-controller/tests/src/PerpsController.market-filtering.test.ts
@@ -117,9 +117,10 @@ describe('PerpsController — market categories & filtering', () => {
       expect(categories).not.toContain('new');
     });
 
-    it('includes all 7 data categories', () => {
+    it('includes all 8 data categories', () => {
       const categories = controller.getMarketCategories();
       expect(categories).toContain('crypto');
+      expect(categories).toContain('memecoin');
       expect(categories).toContain('stock');
       expect(categories).toContain('pre-ipo');
       expect(categories).toContain('index');
diff --git a/packages/perps-controller/tests/src/constants/hyperLiquidConfig.test.ts b/packages/perps-controller/tests/src/constants/hyperLiquidConfig.test.ts
index 468821780fc..098fbdff349 100644
--- a/packages/perps-controller/tests/src/constants/hyperLiquidConfig.test.ts
+++ b/packages/perps-controller/tests/src/constants/hyperLiquidConfig.test.ts
@@ -93,7 +93,7 @@ describe('HIP3_ASSET_MARKET_TYPES', () => {
 });
 
 describe('MarketCategory', () => {
-  it('has string values for all 7 data-model categories', () => {
+  it('has string values for all 8 data-model categories', () => {
     expect(MarketCategory.CryptoCurrency).toBe('crypto');
     expect(MarketCategory.Stock).toBe('stock');
     expect(MarketCategory.PreIpo).toBe('pre-ipo');
@@ -101,17 +101,18 @@ describe('MarketCategory', () => {
     expect(MarketCategory.Etf).toBe('etf');
     expect(MarketCategory.Commodity).toBe('commodity');
     expect(MarketCategory.Forex).toBe('forex');
+    expect(MarketCategory.Memecoin).toBe('memecoin');
   });
 
-  it('has exactly 7 members', () => {
+  it('has exactly 8 members', () => {
     const values = Object.values(MarketCategory);
-    expect(values).toHaveLength(7);
+    expect(values).toHaveLength(8);
   });
 });
 
 describe('MARKET_CATEGORIES', () => {
-  it('has exactly 7 entries (one per data-model category)', () => {
-    expect(MARKET_CATEGORIES).toHaveLength(7);
+  it('has exactly 8 entries (one per data-model category)', () => {
+    expect(MARKET_CATEGORIES).toHaveLength(8);
   });
 
   it('does not include the all or new sentinel values', () => {
@@ -119,9 +120,10 @@ describe('MARKET_CATEGORIES', () => {
     expect(MARKET_CATEGORIES).not.toContain('new');
   });
 
-  it('includes all 7 MarketTypeFilter data categories', () => {
+  it('includes all 8 MarketTypeFilter data categories', () => {
     const dataCategories: MarketTypeFilter[] = [
       'crypto',
+      'memecoin',
       'stock',
       'pre-ipo',
       'index',
@@ -139,6 +141,7 @@ describe('MARKET_CATEGORIES', () => {
     // The runtime check here mirrors that constraint.
     const validValues: readonly string[] = [
       'crypto',
+      'memecoin',
       'stock',
       'pre-ipo',
       'index',
diff --git a/packages/perps-controller/tests/src/utils/marketUtils.test.ts b/packages/perps-controller/tests/src/utils/marketUtils.test.ts
index a881c05c4c0..97d90685a9c 100644
--- a/packages/perps-controller/tests/src/utils/marketUtils.test.ts
+++ b/packages/perps-controller/tests/src/utils/marketUtils.test.ts
@@ -91,6 +91,87 @@ describe('marketUtils category classification', () => {
         expect(matchesCategory(market({ marketType }), filter)).toBe(true);
       },
     );
+
+    describe("'memecoin' filter", () => {
+      it('matches a crypto market carrying the memecoin tag', () => {
+        expect(
+          matchesCategory(
+            market({ marketType: 'crypto', tags: ['memecoin'] }),
+            'memecoin',
+          ),
+        ).toBe(true);
+      });
+
+      it('matches a main-DEX market with unset marketType and the memecoin tag', () => {
+        // Common provider-sourced shape: main-DEX markets often have
+        // marketType undefined until Terminal enrichment applies it. The
+        // memecoin filter must still surface them, mirroring the 'crypto'
+        // case above.
+        expect(
+          matchesCategory(
+            market({
+              isHip3: false,
+              marketType: undefined,
+              tags: ['memecoin'],
+            }),
+            'memecoin',
+          ),
+        ).toBe(true);
+      });
+
+      it('still matches crypto for a memecoin (overlapping by design)', () => {
+        expect(
+          matchesCategory(
+            market({ marketType: 'crypto', tags: ['memecoin'] }),
+            'crypto',
+          ),
+        ).toBe(true);
+      });
+
+      it('does not match crypto without the memecoin tag', () => {
+        expect(
+          matchesCategory(
+            market({ marketType: 'crypto', tags: ['top-100'] }),
+            'memecoin',
+          ),
+        ).toBe(false);
+      });
+
+      it('does not match a crypto market with no tags', () => {
+        expect(
+          matchesCategory(market({ marketType: 'crypto' }), 'memecoin'),
+        ).toBe(false);
+      });
+
+      it('does not match non-crypto HIP-3 markets even with the memecoin tag', () => {
+        expect(
+          matchesCategory(
+            market({
+              isHip3: true,
+              marketType: 'stock',
+              tags: ['memecoin'],
+            }),
+            'memecoin',
+          ),
+        ).toBe(false);
+      });
+
+      it('does not match a marketSource-only HIP-3 market with the memecoin tag', () => {
+        // isHip3Market also treats markets with only a marketSource DEX id
+        // as HIP-3, so those shouldn't leak into the memecoin filter
+        // either.
+        expect(
+          matchesCategory(
+            market({
+              isHip3: undefined,
+              marketSource: 'xyz',
+              tags: ['memecoin'],
+            }),
+            'memecoin',
+          ),
+        ).toBe(false);
+      });
+    });
   });
 
   describe('getMarketTypeFilter', () => {