Dogecoin, Pepe, Bonk Lead Memecoin Rally After Week-Long Corrective Action
Portfolio Pulse from Aniket Verma
The memecoin market saw a significant rally led by Dogecoin, Pepe, and Bonk, following a week-long corrective phase. Dogecoin gained over 4% in the last 24 hours, with trading volumes surging to $1.2 billion. Bonk and Pepe also saw notable gains and increased trading volumes. The total memecoin market cap rose by 5.14% to $56.12 billion, coinciding with positive inflation statistics and forecasts of an altcoin boom.
June 13, 2024 | 3:59 am
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POSITIVE IMPACT
Bonk, a Solana-based memecoin, saw a 4.03% price increase and a 10% rise in trading volume to $410 million, reversing its recent losses.
Bonk's price and trading volume increase suggest a recovery from its recent downtrend, indicating potential for further short-term gains.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Dogecoin saw a 4.40% increase in price and a 3.76% rise in trading volume to over $1.2 billion in the last 24 hours, breaking a week-long downtrend.
The significant increase in Dogecoin's price and trading volume indicates a strong market interest and potential for further gains in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Pepe saw a 2.51% price increase and trading volumes exceeding $1.32 billion, surpassing Dogecoin's trading volume.
Pepe's significant trading volume and price increase indicate strong market interest, suggesting potential for further short-term gains.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70