The biggest winners in the recent bullish surge are new memecoins that have emerged over the past few months.
Memecoins have reversed a week-long bearish crypto trend, recording impressive double-digit growth in the past 24 hours.
During a period when Bitcoin (BTC) has struggled to gain momentum, hitting a monthly low of $58,554 on June 24, memecoins have bucked the trend and posted significant gains. Prior to this upswing, memecoins were among the hardest hit in the declining crypto market.
Dogecoin (DOGE) mirrored the overall market trend with a 2.4% price increase in the past 24 hours. On the other hand, Shiba Inu (SHIB) showed minimal movement, recording just a 0.15% gain. The most significant beneficiaries of this bullish momentum are the newer memecoins that have appeared in recent months.
For instance, Solana-based Popcat (POPCAT) experienced a 50% surge over the past 24 hours, while Mog Coin (MOG) saw a 39% increase.
This recent rally in memecoin prices has not only reversed the market trend but also brought memecoins back into the spotlight. Many had thought the memecoin craze was over following the recent downturn, but the latest price movements suggest otherwise.
Summary Review: The recent surge in memecoin prices has provided a refreshing break from the week-long bearish trend in the crypto market. As Bitcoin continues to struggle, memecoins like Dogecoin, Shiba Inu, and newer entrants such as Popcat and Mog Coin have demonstrated resilience and significant growth. This reversal not only highlights the volatile nature of the crypto market but also revives interest in memecoins, suggesting that the craze for these digital assets is far from over.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
