Memecoins
Bitcoin Price Solidifies at $61,000 as These Coins Trend Meme (Weekend Watch)
The last 24 hours have been relatively quiet in the cryptocurrency market, with the majority of cryptocurrencies failing to gain any notable ground. The opposite is also true: most altcoins are trading in a state of equilibrium.
While this can often prove to be a precursor to a significant move in one direction or the other, let’s take a closer look at price action over the past day.
Bitcoin price stabilizes at $61,000
BTC price was consolidating around $60,000 yesterday, but the bulls managed to gain a foothold and pushed it above $61,000 to the point where it is currently trading around $61,400.
Thanks to this, Bitcoin manages to record an increase of around 0.8% on the day. The volume remains low, but it remains within the expected standards for the weekend.
Bitcoin’s dominance – the metric that assesses its share relative to that of the rest of the market – is currently at 50.8%, while ETH represents around 17% of the total market.
Calm Altcoins, Some Trends Meme Coins
The majority of large-cap altcoins have been moving at a flat pace over the past 24 hours. TON is seeing gains of around 2%, fueled by a significant increase in the total value locked in the protocol.
Elsewhere, and perhaps where it gets a little more interesting, cat-themed meme coins surged today. The entire category grew more than 6%, according to CoinGecko data.
Additionally, these specific meme coins are up 43% over the past week. Some notable mentions include Mog Coin (MOG) and Popcat (POPCAT).
Overall, the market remains in a neutral state, with sentiment having improved significantly since yesterday, according to the popular Crypto Fear and Greed Index.
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