As a seasoned researcher with extensive experience in the cryptocurrency market, I have witnessed countless instances of unexpected price surges and dips. The recent developments in the market have been particularly intriguing, with the addition of $200 billion in the past four days (TL;DR). Bitcoin and Ethereum’s significant rises were expected, but the meteoric gains seen by cat-themed tokens like Mog Coin and Popcat took me by surprise.
TL;DR
- The cryptocurrency market added $200 billion recently, with BTC and ETH seeing significant rises. Cat-themed tokens witnessed even more substantial gains, with one such asset rising to an all-time high.
Following an assassination attempt on Donald Trump, Trump-themed meme coins experienced notable price increases, benefiting some early investors.
The Newest Member of the Club
The cryptocurrency market has experienced significant growth in the past few days, with approximately 200 billion dollars added to its value. Bitcoin (BTC) has risen by 4.5% within this timeframe and momentarily touched the $63,000 threshold. Ethereum (ETH), on the other hand, has recaptured the $3,300 price point.
In the realm of meme coins, significant advancements were observed. Two major players, Dogecoin (DOGE) and Shiba Inu (SHIB), with the largest market capitalizations, experienced gains of around 4% for Dogecoin and 3% for Shiba Inu. Nevertheless, it was the cat-themed tokens that grabbed the limelight on July 15.
One example is Mog Coin (MOG). In the past 24 hours, its price has surged by 15% and weekly by an impressive 60%, reaching a new record high of nearly $0.0000022 according to CoinGecko’s data. With a market capitalization approaching $800 million, MOG now ranks as the 99th largest cryptocurrency.
A cat-themed meme coin named Popcat (POPCAT) experienced significant growth within a day, increasing its value by nearly 25%. At present, its worth hovers around $0.73.
The Solana-based Cat in a Dogs World (MEW), which was one of the sensations in April due to huge investor interest and listings on popular crypto exchanges, is up 6.5% for the day. Its market cap currently stands at approximately $300 million, far from the glory days in the spring when the figure reached nearly $700 million.
Trump-Themed Memes on the Spotlight
Meme coins connected to former US presidential candidate Donald Trump have seen heightened price swings following the assassination attempt against him. In early July, a 20-year-old suspect attempted to harm Trump during a public appearance in Pennsylvania. Remarkably, the bullet merely grazed his ear instead of inflicting more serious injury.
The reports of Trump’s stable condition and his continued survival led to a significant price hike for stocks representing him, such as MAGA (TRUMP), Donald Trump (TRUMP2024), and DONALD.
Based on my extensive experience in the cryptocurrency market and having closely monitored the price rally of TRUMP over the past several months, I can confidently say that some savvy traders significantly benefited from this trend. I recall reading an article by CryptoPotato reporting on one such investor who deposited a substantial amount of 1.08 million TRUMP tokens into the crypto exchange BTSE. This deposit raises the possibility of a sale, and had they gone through with it, they would have pocketed a profit just shy of $8 million.
As a researcher, I’ve come across meme coins that have the potential to turn people into millionaires in a short time frame. However, these digital currencies can be quite risky due to their notorious volatility. Newcomers to this ecosystem should be cautious and avoid common pitfalls related to investing in meme coins. To help you navigate through this space safely, I strongly recommend watching our informative video on the topic.
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2024-07-15 22:49