Memecoins
Bitcoin Price Hits $61K as Ton Cat-Themed Memecoins Add Value
Bitcoin traded over the weekend at $61,000 as the primary asset reacted to bullish activity in the market by pushing from a price of $60,000 to around $61,400.
Bitcoin’s price action marked a very quiet cryptocurrency market over the weekend, with most altcoins failing to gain any notable traction. Aside from Bitcoin and a few cat-themed meme coins, the overall cryptocurrency market remained in a state of equilibrium.
Bitcoin price holds at 61k
Bitcoin Price earned slightly from a previous position of $60,000 to around $61,400 at the time of writing this report. According to Coingecko, this represents a price increase of 0.7% in the last 24 hours. The change volume remains low, but this is an expected volume for weekends.
Despite its slow growth, Bitcoin remains the dominant crypto asset with a market dominance of 50.8% over the rest of the market. Bitcoin is followed by Ethereum which represents only 17% of the total market.
Altcoins remain stable
Large market cap Altcoins remained unchanged over the past 24 hours. Ethereum and XRP recorded losses of 0.41% and 0.35% respectively in the last 24 hours, while the Binance coin gained 0.75%. These price actions remain minimal and have no overwhelming effect on the overall market.
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Ton and Cat themed meme coins shine
Despite a quiet weekend on the cryptocurrency market, some cryptocurrencies managed to stand out in their performance, recording solid gains and sparking interest among traders.
Ton, the native token of Telegram’s Open Network, has seen a price increase of more than 2%, fueled by a significant increase in the total value locked in the protocol.
In addition to Ton, another strong performer over the weekend is cat-themed meme coins like Wif. According to data from Coin Gecko, the entire category has seen growth of over 6% in the last 24 hours.
These specific memecoin brands have outperformed their peers recently, recording explosive growth of 43% last week. Examples of strong performers in this category include Mog coin (MOG) and Pop cat (POPCAT).
Overall, the cryptocurrency market remained neutral over the weekend, with sentiment improving slightly according to relevant indicators.
What to know
- Ton is touted by experts as a solid crypto asset, given the robust ecosystem that the Telegram team has built around its crypto project. From Telegram-based clicker games like Notcoin, Tapswap, and Hamster Kombat to integrating a wallet into Telegram has helped attract millions of new users to cryptocurrencies with the power of social media. Ton is the native crypto asset at the center of this ecosystem and is expected to become a very big name in the industry in the coming years.
- Feline-themed memecoins such as Popcat and WIF have shown strong bullish trends in recent days, outperforming other memecoins in the sector. The entire category gained 6% this weekend despite overall market inactivity.