Date: Thu, August 22, 2024, 12:48 PM GMT
The cryptocurrency market is experiencing a surge in momentum, driven by Bitcoin’s (BTC) impressive recovery, which has seen it bounce back to the $60K mark after briefly dipping to $49K on August 5. This resurgence in Bitcoin’s price has ignited bullish sentiment across the market, with altcoins and memecoins reaping the benefits.
Two standout performers in this memecoin rally are Floki Inu (FLOKI) and Mog Coin (MOG), both of which have seen significant inflows and price increases over the past 24 hours.
According to data from Nansen, here’s a breakdown of the 24-hour inflow and price movements for these memecoins on the Ethereum network:
1) Floki Inu (FLOKI):
- Inflow: $30,438
- Current Price: $0.001419
- 24-Hour Change: +17.08%
FLOKI has seen over $30K in inflows, contributing to a 17.08% price increase in the past 24 hours.
2) Mog Coin (MOG):
- Inflow: $143,425
- Current Price: $0.000001193
- 24-Hour Change: +13.54%
MOG has attracted impressive funds, leading to a 13.54% price surge.
The significant inflows into FLOKI and MOG reflect a broader trend of growing interest in memecoins as Bitcoin stabilizes above $60K. As smart money continues to flow into these projects, it will be interesting to see how they perform in the coming days