Bitcoins Recent Surge Drives Memecoins Breakouts
- Dogecoin leads with a $66.18B market cap and growing trading volume.
- Large wallets drive market moves, but retail FOMO may lead to retracements.
Memecoins are quietly experiencing mini-breakouts this weekend. Dogecoin, Pepe, Bonk, and Dogwifhat have shown notable market activity. Large wallets continue to drive these pumps, but market retail investors FOMO may soon take over. Once retail crowds buy-in, large wallets often sell, leading to price retracements.
Dogecoin (DOGE)
Dogecoin remains the leader among meme coins. It holds the #7 rank with a market cap of $66.18 billion. The current price is $0.4823, showing a 1.17% daily increase. Trading volume surged 38.15% in the last 24 hours to $9.68 billion. Dogecoins fully diluted valuation (FDV) stands at $66.81 billion, with a supply of 147.11 billion coins. The trading activity reflects strong interest but hints at potential price adjustments.
Pepe (PEPE)
Pepe is gaining significant momentum. Its market cap reached $10.27 billion after a 10.68% daily increase. The price climbed to $0.0000264, while trading volume spiked by 156.05% to $7.77 billion. Pepes FDV matches its market cap, with a total supply of 420.69 trillion tokens. This activity shows rising retail interest, but speculative behavior dominates the market.
Bonk (BONK)
Bonk, at #51, surged to $0.00004853 recently. Its market cap is $3.38 billion, growing 0.39% in the past day. Trading volume increased by 103.03%, reaching $988.12 million. The FDV stands at $4.15 billion, with a total supply of 92.68 trillion coins. The circulating supply is 75.55 trillion, indicating high market liquidity. Bonks steady growth suggests potential for sustained interest.
Dogwifhat (WIF)
Dogwifhat ranked #46, saw its price reach $4.00 after a 3.16% daily gain. Its market cap is $3.67 billion, supported by a trading volume of $1.21 billion, up 52.12% in 24 hours. The total supply is 998.84 million coins. Although its FDV equals its market cap, the trading activity reflects growing speculative interest.
Memecoins are riding a wave of speculative growth, fueled by large wallets. Retail FOMO could drive further volatility. However, these trends often lead to sharp retracements. Investors should track trading volumes, market caps, and crowd behavior to understand future price movements.
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Read more: https://thenewscrypto.com/bitcoins-recent-surge-drives-memecoins-breakouts/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
