Crypto Market Today: Bitcoin Struggles at $40K, While WIF and Bonk Making Surge

Crypto Market Today: Bitcoin Struggles at $40K, While WIF and Bonk Making Surge

As the sun rises on Friday morning, the crypto market is displaying a mixed landscape. Major players like Bitcoin and Ethereum are witnessing minor gains, while the buzzworthy memecoins, WIF and BONK, are stealing the spotlight with notable surges. Since the approval of the Bitcoin Spot ETF on January 11, 2024, Bitcoin’s price has been on a downward trajectory, currently hovering around the $40,000 mark.

Bitcoin’s Struggle:

Bitcoin (BTC), the pioneer of cryptocurrencies, is currently priced at $40,119, experiencing a modest 0.80% increase in the last 24 hours. Despite the recent approval of the Bitcoin Spot ETF, the leading digital asset continues to face resistance, reflecting the volatile nature of the crypto market. The current market cap for Bitcoin stands at an impressive $786 billion, underlining its significant presence in the overall market.

Ethereum’s Performance:

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is trading at $2,221, showcasing a 0.79% gain in the last 24 hours. With a market cap of $267 billion, Ethereum maintains its position as a major player in the crypto space.

Memecoins Rising:

Source: Coinmarketcap

1) dogwifhat (WIF) on the Rise:

In the world of memecoins, dogwifhat (WIF) is taking center stage today. The new trending memecoin has surged by an impressive 11.83%, reaching a price of $0.3707 in the last 24 hours. The market cap for WIF currently stands at $373 million, making it a notable player in the memecoins .

2) BONK’s Noteworthy Surge:

Another memecoin making waves is Bonk (BONK). In the last 24 hours, Bonk has witnessed a rise of 5.59%, reaching a price of $0.0000112. The market cap for the BONK token has reached $713 million, showcasing its growing influence in the memecoin market. The surge in BONK’s price reflects the dynamic nature of memecoins, where community-driven projects can capture the attention of investors.

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