Here’s why Memecoin (MEME), Baby Doge Coin, Coq Inu, MAGA are soaring

Here’s why Memecoin (MEME), Baby Doge Coin, Coq Inu, MAGA are soaring
фото показано с : invezz.com

2024-3-4 11:05

It is a good day in the cryptocurrency as Bitcoin (BTC) and Ethereum (ETH) surged to its highest levels in more than two years. This rally has triggered a major bull run in the meme coin industry. 

Memecoin (MEME) price jumped by more than 40% in the past 24 hours and by 150% in the past 30 days, giving it a market cap of more than $582 million.

Coq Inu (COQ) price has surged by over 25% and 207% in the two periods, respectively. This rally has given it a market valuation of $220 million.

Baby Doge Coin has risen by 28% and 108% in the past 24 hours and 30 days, valuing it at over $335 million. MAGA (TRUMP) token has also gained momentum, bringing it a valuation of more than $456 million.

The other meme coins, as I wrote on Saturday, like Pepe, Bonk, and Shiba Inu have all jumped sharply in the past few days.

The main reason why this trend is happening is that it seems like animal spirits have moved back to the crypto industry. This is evidenced by the fact that the crypto fear and greed index has jumped to the extreme greed point of 87.

Most importantly, most big coins like Bitcoin, Ethereum, and Solana have embarked on a strong rally. Bitcoin crossed the important resistance point at $65,000 on Monday, raising the possibility that it will retest its all-time high of $69,000 soon.

Similarly, Ethereum has jumped to over $3,500 and has more room to run in the coming months as hopes that the SEC will approve the eight spot ETH ETFs soon. Companies like Van Eck, Franklin Templeton, and Blackrock have all applied for these ETFs.

Meme coins thrive in these market conditions because most day traders are usually attracted to their low proces. For example, Bonk was trading at $0.00003575 on Monday while Coq Inu was at $0.000003158. Memecoin, a token that claims to be worthless, was trading at $0.050.

This pricing means that traders can buy more of these meme coins than they can with Bitcoin and Ethereum. With just $10, a trader can buy over 3.25 million Coq Inu tokens and benefit with small price movements. A similar amount would only buy 0.00015 Bitcoins.

The post Here’s why Memecoin (MEME), Baby Doge Coin, Coq Inu, MAGA are soaring appeared first on Invezz

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Memetic / PepeCoin (MEME) на Currencies.ru

$ 0.0253102 (+0.36%)
Объем 24H $705.054k
Изменеия 24h: 3.95 %, 7d: 3.47 %
Cегодня L: $0.0253102 - H: $0.0253102
Капитализация $0 Rank 2841
Цена в час новости $ 0.0068559 (269.17%)

meme coin memecoin major triggered two years

Источник: invezz.com

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