The post Memecoins Take Off After Bitcoin’s Rally—Double-Digit Gains Shine appeared on BitcoinEthereumNews.com.

Memecoins are experiencing double-digit gains in the past 30 days, leading the altcoin rally. The recent memecoin surge indicates growing investor interest, which is a result of speculative trading. The recent increase in the memecoin market has proven to be one of the most significant movements in the crypto market, with some tokens seeing spectacular gains. Following Bitcoin’s recent surge, memecoins are doing well; many have seen double-digit gains over the last 30 days, according to IntoTheBlock. Memecoins are performing strongly following Bitcoin’s recent rally, with many memecoins now showing double-digit gains in the past 30 days. Is it time for another memecoin season? pic.twitter.com/AFgXKGgDq3 — IntoTheBlock (@intotheblock) September 30, 2024 Dogwifhat (WIF) emerged as one of the most prominent achievers, with its stock price rising by 46% in September to a high of $2.20. This rapid increase pushed WIF’s market cap above $2 billion, the highest level in the prior seven weeks. Interestingly, despite this increase, the number of WIF holders only rose by 1.29%, suggesting that speculative trading in the futures market may be primarily responsible for the rally. Analysts have turned bullish, with some expecting that WIF could soon reach $3 as it gains momentum. Pepe (PEPE) Surges Past Its August Highs, Outshining Dogecoin in Trading Volume  Simultaneously, Pepe (PEPE), an Ethereum-based memecoin, has surged 31% in the past week. This momentum drove PEPE to its highest level since August 3, representing a 68% increase from its local low on September 6. Trading volumes for PEPE have also increased dramatically, tripling to more than $1.3 billion on September 27, solidifying its status as the world’s third-largest memecoin with a market cap that has reclaimed the $4 million barrier. Its remarkable climb has eclipsed even Dogecoin (DOGE) in terms of trading volume, demonstrating the growing investor preference for…

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Filed under: News - @ October 1, 2024 7:18 am