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Meme coins are just jokes, but over the past 24 months many delivered far more ROI than Bitcoin or Ethereum. This week's biggest losers were still on sale Saturday.
Cryptocurrency prices remained under pressure on Monday, continuing a trend that has happened in almost two weeks.
WIF price risks declining by another 48% due to the formation of a classic bearish reversal setup.
This week, the meme coins market has witnessed a noticeable decline in activity, with the sector's capitalization dropping 5% over the past five days.
It was a sea of red in the cryptocurrency market on Aug. 16 as Bitcoin dropped below the key support level of $58,000. Most altcoins were deep in the red, remaining in a bear market.
BTC's drop took the asset's price to its weakest level since the market panic witnessed in the first week of August, with ETH also dropping 4.5%.
Solana memecoins spikes are traders' favorite sessions, and after the short bearish phase, the rally is likely to begin again. Amid the crypto market recovery today, top Solana memecoins Dogwifhat (WIF), BONK, and Popcat Sol have shown a significant surge.
The Solana price has dipped by 0.5% in the past 24 hours, although its current level of $145 also marks a 4% gain in a week.
TAO is the other substantial loser on a daily scale.
Solana memcoins, after a short bearish rally, has once again gained bullish momentum.
The weekend trade remained extremely bearish for the entire crypto space, which included even memecoins. The top 5 memecoins, Dogecoin, Shiba Inu, Pepe, dogwifhat & Bonk, are trying to rise above the bearish influence. Therefore, the buying pressure is slowly rising and hence the memecoins are about to gain mainstream attention soon.
Bitcoin (BTC) slipped below $60,000 on Sunday, going below even the $59,000 price level as markets tumbled over the weekend. BTC hit an intra-day high of $61,970 before turning bearish and falling to a low of $58,395.
WIF has surged by 21% over the past 7 days amidst Open interest increase.
Crypto traders expect Pepe, the popular meme coin, to hit a market capitalization of $10 billion ahead of Dogwifhat.
The recovery in the crypto markets has lost steam, with Bitcoin (BTC) and Ethereum (ETH) struggling to push above resistance levels, indicating that sellers are active at higher levels.
Tuesday's promising crypto market rebound fell flat on Wednesday, with most major cryptos trading in the red versus 24 hours ago per CoinMarketCap, and investors scouring altcoin markets in their hunt for top crypto performers today.
Amid Bitcoin price rebound over $57k, Solana based memecoins surged and ranked among the top gainers.
The cryptocurrency market is on the way back. Bitcoin is currently staging a 17% recovery over the past 3 days, and altcoins are following suit.
The total crypto market cap is back to $2.1 trillion.
Solana-based meme coin dogwifhat has jumped 20% over the last day as Bitcoin recovered back to $57,000 levels. At the time of writing, dogwifhat (WIF) was still up 18%, trading at $1.71 per price data from CoinGecko.
The cryptocurrency market has recorded a bullish recovery over the past 24 hours after trading under a strong bearish sentiment for the past four days. Moreover, the Solana price has successfully retested its important support level of $127.
As the cryptocurrency market readies for its next bull run, several altcoins stand out for their potential to deliver substantial returns. Here's a look at the top 10 altcoins recommended by crypto analyst Matt's Crypto in his YouTube video, each promising significant gains.
After a dreadful start to the week, the bulls are leaving no stone unturned in reviving a strong reversal. No sooner than the Bitcoin price initiated a recovery, the memecoins began to soar extraordinarily.
Amid rumours of war, the Japanese stock market collapsing, and a huge sell-off in risk assets, the cryptocurrency market is ablaze. $BTC is down 12%, and altcoins are absolutely tanking.
