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Leading memecoins fell sharply Tuesday in response to the broader cryptocurrency market decline. What happened: Solana (CRYPTO: SOL)-based dogwifhat led the decline, dropping more than 13% in the last 24 hours.
The memecoins are ready to run, and $PEPE, $WIF, and $BRETT will be among the favourites to get out of the blocks first. However, everything still depends on whether $BTC can also continue its upward trend.
The memecoins are ready to run, and $PEPE, $WIF, and $BRETT will be among the favourites to get out of the blocks first. However, everything still depends on whether $BTC can also continue its upward trend.
Bitcoin (BTC) failed to stay above $64,000 as slight losses pushed the price below $63,000. Other major cryptocurrencies, including Solana (SOL), Ethereum (ETH), and Ripple (XRP), also registered marginal losses despite witnessing an increase over the weekend.
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The largest non-exchange holder of Solana (SOL)-based memecoin dogwifhat is continuing to accumulate WIF, according to on-chain data. Blockchain tracking firm Lookonchain says the Solana address that begins with “mmEAfW” has recently accumulated hundreds of thousands of WIF. “The largest holder of WIF spent 1.54 million USDC to buy 800,556 WIF at $1.
As altcoin season approaches, traders and investors search for fresh opportunities in the cryptocurrency market, eager to discover the next big breakthrough. Many base their investments on their risk tolerance and market outlook.
The cryptocurrency market is experiencing a notable upswing as Bitcoin approaches the $70,000 milestone, currently priced around $64,000. This trend has reignited interest in meme cryptocurrencies like WIF, POPCAT, and FLOKI, poised for potential 100% gains.
Altcoins SATS, dogwifhat, FET, and Bonk have all surged over 10% over the past day to rank as the top gainers in the crypto market, as Bitcoin, the leading cryptocurrency by market cap, jumped over $64,000 in the same timeframe.
Dogecoin Rivals – Shiba Inu (SHIB), Floki, Pepe coin (PEPE), Dogwifhat (WIF), and BONK are set to attract investor interest as DOGE price has been stuck in a five-month correction. Despite the recent market rebound, Dogecoin price projects no clear sign of bottom formation, projecting the risk of further sell-off.
Mid-cap meme cryptocurrencies Floki (FLOKI) and Dogwifhat (WIF) are on the list of the worst performing cryptos in the top 100 today. Besides general uncertainty, the largest meme coins are losing liquidity thanks to the growing euphoria around Tron's meme coin ambitions.
Dogwifhat's (CRYPTO: WIF) largest holder, already more than $68 million in profit, is accumulating the meme coin as traders predict a breakout. What Happened: Lookonchain data shows an anonymous investor, Dogwifhat's largest holder, actively increasing his WIF holdings.
The meme coin industry, led by Dogecoin (DOGE), is currently valued at about $40 billion, with a daily average traded volume of around $3.14 billion. The Solana (SOL) network remains a top-performing layer one (L1) chain, heavily influenced by its meme coin ecosystem led by dogwifhat (WIF), and Bonk (BONK).
Bitcoin (BTC) has held firm above $60,000, although its price has not seen much movement. The asset is trading around the $60,700 price level.
Meme coins are surging this week as part of a broader momentum shift across the crypto market that may finally bring August's bearish conditions to an end. Tokens like $WIF and $FLOKI have posted double-digit gains in the past 24 hours, and more gains could be on the way.
Floki and dogwifhat defied the broader market dip to fare among the cryptocurrency market's biggest gainers Tuesday. What Happened: Solana (CRYPTO: SOL)-based WIF emerged as the best-performing $1 billion capitalization memecoin in the last 24 hours.
With the price of Bitcoin reclaiming the $61,000 level, the crypto market has recorded a strong bullish recovery over the past day. Moreover, the Memecoin category has added $2.17 Billion in market cap. This contributes to 3.38% of the total inflow of the past day.
Meme coins are back in the green following the market cooling down as traders grew frustrated with token launchpad Pump.fun.
After a brief pullback during the weekend, the crypto markets are trying hard to trigger a healthy rebound. While Bitcoin rises above $60,000, memecoins have geared up, as some of them have surged heavily. While Dogecoin & Shiba Inu remain consolidated within a range, Brett, dogwifhat & FLOKI prices have begun to surge high.
Despite recent struggles, Bitcoin (BTC) has reclaimed the $60,000 price level and is trading at $61,100, up over 4% during the past 24 hours. BTC and Ethereum (ETH) were trading flat early on Monday but quickly shrugged off the initial lethargy to record noticeable gains.
Meme coins, which have been battered recently, were some of the best-performing coins on Tuesday as investors focused on the upcoming Fed minutes and Jackson Hole meeting in the United States. Brett, the top token in Base Blockchain, surged by over 24% while Dogwifhat (WIF), Floki, and Pepe soared by double digits.
As Bitcoin (BTC) continues to traverse sideways, the altcoins are certainly not going to outperform. This is even more so the case with memecoins.
Dogwifhat (WIF), the fourth-largest memecoin by market capitalization,is facing a significant selloff, and has nearly erased its recent V-shaped recovery following the August 5 market crash.
Here is how some of your favorite assets concluded the week.
