Breaking Crypto News: Memecoins vs. Bearish Trends: Memecoins’ Journey to Double-Digit Growth
Breaking Crypto News – Memecoins have experienced a double-digit increase over the last day, breaking out of a week-long bearish cryptocurrency trend. While Bitcoin is finding it difficult to gather positive momentum, having recorded a monthly low of $58,554 on June 24, the majority of meme coins experienced a trend reversal and double-digit gains.
Memecoins were among the greatest losers in the red crypto market prior to the recent bullish surge. After many called for an end to the meme-toke craze following the recent fall, the recent surge in memecoin prices has not only reversed the market trend but also assisted memecoins in getting back into the news cycle.
Many Memecoins, Especially Popcat, Are Experiencing a Massive Rise
Dogecoin’s price increase of 3.36% during the last day was in line with the general trend of the market. Shiba Inu, on the other hand, made very little development, with a daily rise of just 3.14%. The new memecoins that have surfaced in the last few months seem to gain the most from the bullish increase. On the 24-hour chart, Solana-based Popcat (POPCAT) experienced a 65.87% increase in value, while Mog Coin (MOG) saw a 32.62% increase in value.
A multimonth low was reached earlier this week when Dogwifhat (WIF), a memecoin that gained attention earlier in 2024 after reaching a $4 billion market valuation, dropped to $1.47. On June 25, nevertheless, the memecoin saw a spike of more than 16.17%, which helped it regain most of the losses from the previous week. The price of the token shot up from a daily low of $1.62 to a daily high of $1.94; as of this writing, it was trading at about $1.91.
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