Memecoins
Bitcoin Surges Past $65,000, Triggers Surge in Meme Coin Solana
Key points to remember
- Bitcoin nearly hit $66,000 today, marking a significant price move.
- Solana’s meme coins have seen substantial growth, with PressDog and Cafe leading the way.
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Bitcoin (BTC) nearly hit the $66,000 price level today after surging nearly 4% in six hours, according to data aggregator CoinGecko. Notably, BTC needs to make a daily close above $65,000 to resume its path towards $71,500, according to the trader identified as Rekt Capital.
Bitcoin is one daily close and a retest of $65,000 (blue) away from the start of a brand new cluster of price action in the $65,000 to $71,500 region (red)$BTC #Crypto #Bitcoin https://t.co/5wOXpM4XO2 pic.twitter.com/4XbV6YEXK2
– Rekt Capital (@rektcapital) July 19, 2024
The merchant added that every time Bitcoin has managed to break above the $65,000 price level during this cycle, it has visited the lower $70,000 price zone. At the time of writing, BTC appears to have found ground above the $65,000 area.
The feat is impressive considering the incident that hit the world today. Cybersecurity firm CrowdStrike released a new update to its antivirus software used by large companies, which caused errors on Microsoft Windows devices. As a result, travel, banking and healthcare services suffered outages.
Despite Bitcoin’s significant performance, Solana (SOL) stole the show by surging nearly 7% in the last 24 hours. SOL closed in on the $170 price level but lost steam as it hit $169.
Additionally, the upward movement in SOL’s price pushed its meme coin ecosystem, which increased by 12.4% on average and became the second-fastest growing crypto sector in the last 24 hours. Notable movements were recorded by the new PressDog (PRESS) and Cafe (CAFE), which surged by 170.5% and 163.4%, respectively. The well-established Retardio (RETARDIO) also made decent progress with a price increase of 38.6%.
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