Memecoins
Here are 4 cryptocurrencies traded with gains above 10% by Benzinga
Benzinga – by Shanthi Rexaline, Benzinga Editor.
The weekend began with frenetic activity in the meme coin industry, led by a newcomer to the group. The gains came on the heels of widespread strength seen in the cryptocurrency sector.
The Movers: Solana (CRYPTO:SOL) Dog themed meme coin Dogwifhat (CRYPTO:WIF), launched in November 2023, led gains among meme coins. At last check:
- WIF rose 17.63% in the last 24 hours to $3.47.
- Dogecoin (CRYPTO:DOGE) rose 14.88% to $0.1613.
- Floki (CRYPTO: FLOKI) rose 14.26% to $$0.0001955.
- Pepe (CRYPTO:PEPE) rose 11.23% to $$0.000008846.
What drives the rally: Meme coins have been on an uptrend since late April and strength has been sustained for much of the week amid the Federal Reserve’s rate decision and dovish comments from Jerome Powell.
The weekend’s acceleration came as some publications reported on Elon Musk’s electric vehicle company Tesla would accept payment for certain products in Doge on its online store. This, however, is not a new development.
Cryptographic analyst Ali Martinez predicted Wednesday that Doge could be poised for a bull run. Sharing a long-term chart of the cryptocurrency on X, formerly Twitter, he said the meme coin was charting a pattern, which was a precursor to past bull runs.
Over the years, #Dogecoin seems to mirror its previous bull cycles! All you need is a little patience. ⌚️ pic.twitter.com/QMqvmJaLkl
— Ali (@ali_charts) May 1, 2024
Bitcoin
Read Next: Trump-Themed MAGA Memecoin Plans to Rival Dogecoin and Shiba Inu with ‘Four More Years of Catalysts’
Third party ad. This is not an offer or recommendation by Investing.com. See information Here OR
remove ads
.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.