Memecoins
This Meme Coin Defies Negative Market Trends with 800% Weekly Increase: Details
TL;DR
- The cryptocurrency market has suffered heavy losses recently, with major assets suffering significant declines.
- Despite the slowdown, one meme coin saw a dramatic rise, jumping 800% in a week after launching on PancakeSwap and receiving support from Crypto.com.
The cryptocurrency sector recently erased much of the gains recorded in recent months, with global market capitalization plunging as much as $2.2 billion. Major digital assets – Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Cardano (ADA) and many others – are deep in the red on a 7-day scale.
The bloodbath in the room itself is even worse. Dogecoin (DOGE) is down 22% each week, while dogwifhat (WIF) and Floki Inu (FLOKI) have lost almost 30% of their valuations over the same period.
However, one such asset lies well in the green amidst the dark reality, and its name is Crow With Knife (CAW).
The meme coin saw the light of day in mid-March, but its price began to rebound late last month. It is up almost 50% on a 24-hour scale and 800% per week. Additionally, its market capitalization has surpassed the $100 million mark.
The latest CAW price explosion coincides with the launch of the asset on decentralized exchange PancakeSwap. Previously, he received the support of the popular cryptocurrency platform Crypto.com, which opened trading services with it.
Other meme pieces that have caused a stir in recent months include dogwifhat (WIF)Bonk Inu (BONK), MEME BOOK (BOME), and more. Interestingly, they are all built on the Solana blockchain, while CAW is a token part of the Cronos ecosystem.
The rapid price movements in the meme coin sector in recent times are another example of the famous cohort volatility. If you’re about to jump on the bandwagon, please check out our dedicated video to protect yourself from some common mistakes: