Meme coins continued their strong rally accelerated on Tuesday as Bitcoin surged to a record high and the path to $100k remained intact. Bitcoin soared to $94,000, bringing the year-to-date gains to almost 120%.

While Bitcoin price is doing well, the real action is happening in the meme coin industry, where top coins are firing on all cylinders. Bonk, the first major meme coin in the Solana ecosystem, has soared by over 400% this year. 

Similarly, Dogecoin price jumped by 325% this year. Its gains continued this month after Donald Trump appointed Elon Musk and Vivek Ramaswamy to become the heads of the Department of Government Efficiency (DOGE). Musk also revealed that he owns a bunch of Dogecoin in his portfolio, a remarkable feat for a person whose net worth has jumped to over $326 billion.

Other smaller meme coins have done well this year. Peanut the Squirrel (PNUT) price has jumped by almost 300% in the last 30 days. Other popular coins like Dogwifhat, Popcat, and Brett have also soared. As a result, the total market cap of all meme coins has jumped to over $131 billion, accounting for about 4% of the crypto industry. 

Analysts believe that these meme coins will continue doing well for three main reasons. First, Donald Trump has vowed to be a crypto-friendly president, which is a good thing for the industry. Trump Media & Technology is even considering buying Bakkt, a company in the crypto sector. 

Second, the Federal Reserve has committed to cutting interest rates now that inflation is on a path toward 2%. In most periods, investors rush to risky assets when the Fed has embraced a dovish tone. 

Further, meme coins are set to do well because of the strength of the US economy and the fact that it has avoided a hard landing.

Analysts believe that Vantard could grow to become one of the top-performing cryptocurrencies in the industry. 

Vantard, which is currently in a fast-growing pre-sale token sale, aims to create a meme coin index fund. The VTARD token will track the biggest and most prominent meme tokens and aim to beat traditional assets like Bitcoin and Ethereum.

Vantard has already raised over $855,000 from investors, who are taking advantage of its low price. The VTARD token was trading at $0.00014 in the current stage. It will then rise to $0.00015 in the next stage. As such, investors are buying the coin earlier so that they can benefit from the lower price. 

Vantard has been inspired by Vanguard, a company that has become a $8 trillion juggernaut by offering exchange-traded funds (ETFs) and mutual funds. For example, the Vanguard S&P 500 ETF (VOO) has achieved over $550 billion in assets and has jumped by over 100% by just tracking the biggest companies in the United States. You can buy the Vantard token here.

The post Bonk and Dogecoin prices surge as focus shifts to Vantard appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

origin »

7 +