While Bitcoin Scared Its Investors at the Weekend, There was Movement in Memecoins! Here are the Rising Memecoins!

Over the weekend, Bitcoin fluctuated and fell as low as $64,500, sparking fear among investors.

While Bitcoin’s Decline Ended, Memecoins Increased

However, Singapore-based QCP Capital noted in a Telegram post that BTC quickly rebounded above $67,000, indicating that the heavy selling had dissipated and a willingness among investors to “buy the dip”.

Recent economic data from the United States highlighting persistent inflation has fueled expectations of higher interest rates and a strengthening dollar, conditions that typically present challenges for risky assets such as cryptocurrencies.

As BTC navigated these dynamics, the memecoin sector gained attention over the weekend, with a significant 11% increase in market cap to over $55 billion, according to CoinGecko data.

Notable movements in this space included SHIB, up 10.8%, as well as DogWifHat (WIF), up 30%, and CORGIAI, a new player, up 8.5%.

In parallel with the Memecoin craze, tokens associated with the underlying chains of these assets have also witnessed upward movements. The value of Solana (SOL) increased by 10.8% to $205, while the price of Avalanche (AVAX) increased by 15% to $61.

*This is not investment advice.

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