Memecoins
Meme Coins Surge Alongside Other Risk Assets After Trump Shooting
Coin meme The mania is back, just days after some of the biggest risk assets took a hit—with tokens like Ethereum-base Grandpa And Solana‘s Dog Hat make big gains.
Over the past day, Pepe (PEPE) and Dogwifhat (WIF) are among the biggest gainers in the cryptocurrency market, rising 21% and 18%, respectively, according to data from CoinGecko. Pepe is now at the price at $0.00001256, while Dogwifhat today struck $2.24.
What is also winning today is Popcata Solana-based meme token. The asset has surged nearly 18% in the past 24 hours and is now trading at $0.8995.
Among the most important meme coins, DogecoinDogecoin, the original cryptocurrency and the 10th largest cryptocurrency by market cap, has increased by nearly 5% over the past day, marking a bigger jump than Bitcoin and Ethereum. The price of Dogecoin currently stands at $0.1252.
Memes are cryptocurrencies that are often inspired by internet memes and jokes, as well as real-world events and trends. These virtual coins and tokens, which can operate on their own blockchain or on other major networks, such as Ethereum and Solana, are known for being highly volatile.
“Risk” assets (investments whose prices tend to fluctuate up and down) performed well thanks to a failed assassination assassination attempt on Donald Trump last weekend.
A bullet grazed the presumptive Republican nominee’s ear at a rally Saturday. Investors now we bet that the former US president will not only win in November, but will also be the most Wall Street-friendly candidate.
As a result, cryptography and meme actions are on the rise, especially Trump-themed meme coins has skyrocketed in value over the weekend. Trump has recently positioned himself as a cryptocurrency-friendly presidential candidate. He has said he will “defend the right to mine” Bitcoin” and later this month will speak at the Bitcoin 2024 conference in Nashville, TN.
Bitcoin According to CoinGecko, the price of Bitcoin has surpassed $65,000 per coin today, marking the first time in nearly a month. Its current price is $64,359, up more than 1% in the last 24 hours.
Edited by Andre Hayward
The views and opinions expressed by the author are provided for informational purposes only and do not constitute financial, investment or other advice.