(Friday 05 July 2024, 02:56 PM GMT):
In the cryptocurrency market, the past 48 hours have been particularly eventful. The market experienced a significant sell-off due to the ongoing Bitcoin selling by Mt. Gox. This led to Bitcoin’s price dropping by over 2.84% to $55,731, and Ethereum falling by 5.22% to $2,954.
However, the market is now showing signs of recovery, especially among memecoins. Let’s take a closer look at how some of the popular memecoins are performing:
1) Dogwifhat (WIF)
Dogwifhat, a memecoin based on the Solana blockchain, has surged by 5.13% in the past 24 hours. It is currently trading at $1.86 with a market cap of $1.82 million. This uptick suggests growing investor interest and confidence in Dogwifhat.
2) Bonk (BONK)
Bonk, another Solana-based memecoin, has shown a strong recovery with a 7.90% gain, trading at $0.00002217. Its market cap has reached $1.51 billion, making it one of the standout performers in the memecoin space during this recovery phase.
3) Pepe (PEPE)
Unlike Dogwifhat and Bonk, Pepe has not fared as well. It remains bearish, down by 9.50% in the last 24 hours. Pepe is currently trading at $0.00000843, with a market cap of $3.55 billion. This significant drop indicates that Pepe is struggling to regain momentum amid the market volatility.
In summary, while the overall cryptocurrency market has been under pressure, certain memecoins are showing resilience and bouncing back. Dogwifhat and Bonk are leading this recovery, while Pepe continues to face challenges. As always, investors should stay informed and cautious in this unpredictable market.
Disclaimer
This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and carry significant risk. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.