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After a bearish push in the last few days, the crypto market was down, leading to price falls for most cryptocurrencies. Bitcoin has just made a comeback and is trading at the $67K mark, whereas the rest of the altcoins include Floki Inu, Solana, JasmyCoin, BOME, BNB, and others.
The crypto industry has displayed a positive uptrend for the first time this week, indicating increased demand for crypto tokens. Moreover, the market leader, Bitcoin price, has recorded a jump of over 10%, resulting in major altcoins recording a significant bounce back in the chart.
PEPE and BOME's bull rally might not last long as bearish sentiment around them remained dominant in the market.
Since last week, the meme coins has showcased an active correction trend that led to a sharp price reversal in Bitcoin. The BTC value dropped below $65,000, which has accelerated the supply pressure in the majority of the major coins.
Dogwifhat (WIF) stands out as one of the most prominent meme coins within and beyond the Solana ecosystem. Currently priced at $2.53, WIF has surged by 32% over the past week, solidifying its position atop Solana's memecoin charts.
Solana's memecoins have recorded massive gains following recent events in the cryptocurrency market. As bullish pressure mounts across Bitcoin (BTC) and altcoins, memecoins have also posted increased inflows since Q4 2023.
The memecoin craze on the Solana (CRYPTO: SOL) blockchain appears to be hitting a rough patch, with popular memecoins losing substantial gains over the past 24 hours. What Happened: Meme coin BOME saw its price plummet by nearly 50% in the past 24 hours, pushing its market capitalization below $500 million.
In today's crypto trend, the madness is around Solana-based meme coins. These coins, linked to internet memes and deployed on the Solana blockchain, stir controversy amid massive pumps. Viewed by some as vehicles for scams, yet seen by others as opportunities for big gains.
This highlights the volatility and unpredictability of meme coin investments, urging investors to exercise caution and conduct thorough research before participating. Meme Coin Sector Shines with Market Cap Surpassing $60 Billion The meme coin sector has recently grabbed the spotlight, with its market capitalization briefly exceeding the $60 billion mark.
Shiba Inu is not the only meme coin in the spotlight. Check out which other tokens of that type can make waves this month.
BOME's meteoric rise planted seeds of suspicion in the market.
As the overall market volatility starts from last Tuesday's dip, the meme coin sector is on a similar rocky road. Amidst such choppy market behaviors, Solana-based meme coins are struggling to come back from the recent hiccup.
After its strong outperformance in the broader cryptocurrency market, Solana and its meme coins have faced some pullback amid the broader market correction. While the Solana price is down by 10% at $185, the BOME price has corrected by a massive 50%, as of press time.
GALA and BOME's prices dropped in the last 24 hours after what was a successful week on the charts.
After the collapse of FTX Trading Ltd. in 2022, many wrote off Solana and thought that the project was dead.
Binance offered a multi-million dollar bounty for information on corruption within the exchange after an insider trading accusations went viral.
OKX is not listing recent Solana memecoins BOME, DogWifHat, unlike Binance. A recent tweet by the founder likely explains why.
The cryptocurrency sector witnesses a change in dynamics as Solana (SOL) and its related meme token Book of Meme (BOME) outshine Ethereum projects. With analysts expecting steady surges for the alts, Telegram-based trading bot Bitbot (BITBOT) is seeing increased traction among traders and investors.
Solana (SOL) and its meme coin, Book Of Meme (BOME), are shaking up the crypto scene, outshining Ethereum projects. SOL's price jumped 12%, and BOME got a boost after being listed on Binance.
Solana's native token, SOL (CRYPTO: SOL), along with The Book of Meme (CRYPTO: BOME), a meme coin developed on the Solana blockchain, has seen a spike in attention within the crypto community on social media platforms. What Happened: According to social analytics firm Santiment, these tokens have dominated discussions across various networks.
The crypto market is witnessing a dynamic shift as Solana (SOL) and its associated meme coin, Book Of Meme (BOME), emerge as prominent contenders, overshadowing Ethereum projects. With Solana's price surging by nearly 12% and BOME gaining traction following Binance's listing announcement, investor attention is shifting toward these alternatives.
Increased crowd chatter may be a sign of an impending retail investor frenzy.
The Solana network experienced a surge in activity over the weekend, surpassing Ethereum in total trading volume.
A newly launched memecoin on Solana (SOL) has achieved a $1.1 billion market cap in less than 48 hours following its listing on Binance, the largest crypto exchange in the world.
