Top Memecoins Running Away With Bitcoin Halving Momentum

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Meme Coins Lead Market Rally With Double-Digital Gains – Crypto News

Published

2 years ago

April 24, 2024

Dripp

Crypto Price Prediction: The cryptocurrency market has witnessed a fresh relief rally since last week following the completion of Bitcoin Halving. The renewed demand pressure signaled a local bottom formation for BTC at $60000, propelling its price to $67000.

Moreover, Santiment reports that Bitcoin whales holding 1,000 to 10,000 BTC have bolstered their positions, accumulating an additional 266,000 BTC since early 2024. This uptick constitutes a significant 1.24% of the total Bitcoin supply. Amidst an emerging sentiment of FOMO within the crypto community, these whales now control 25.16% of all circulating Bitcoin, strengthening the potential of higher rally.

🐳 #Bitcoin‘s key whale tier holding 1K-10K $BTC are supporting this rise, and have now accumulated 266K more $BTC since the start of 2024. This translates to an accumulation of 1.24% of the entire supply. The crowd is also showing a high degree of #FOMO. https://t.co/fNSTOERzXo pic.twitter.com/qaJmQJfFca

— Santiment (@santimentfeed) April 24, 2024

As per recent data, the Meme coin sector is leading the post-halving with assets such as Bonk, Dogwifhat(WIF), Floki, and Pepe coin (PEPE) registering double-digit growth today.

Also Read: Crypto Prices Today April 24: Bitcoin At 67K, ETH Gains, Hedera & Bonk Skyrocket

1) Dogecoin (DOGE)

Dogecoin (DOGE)| Tradingview

Dogecoin (DOGE) began as a meme but has grown into a notable cryptocurrency with a strong community. Initially created in 2013 as a playful alternative to Bitcoin, Dogecoin features the Shiba Inu dog from the “Doge” meme as its mascot.

For nearly two months, the DOGE price has led a sideways action resonating within two converging trendlines in a daily chart. The memecoin currently trades at $0.161, showcasing no clear dominance from buyers or sellers with the neutral candle.

The current market cap of Dogecoin stands at $23.26 Billion, while trading volume since yesterday’s gain surged to $1.234.

A potential upside breakout from this triangle will signal the continuation of the recovery trend, bolstering the DOGE price to target the $0.206 barrier, followed by $0.22.

Also Read: Explosive Raffle Coin Soars in Presale Stage 1, As Dogecoin Millionaire Stakes Big, Whilst Shiba Inu Soars Once More

2) Dogwifhat (WIF)

BINANCE:WIFUSDT Chart — Dogwifhat (WIF)| Tradingview

Dogwifhat (WIF) stands as a meme cryptocurrency built on the Solana blockchain, portraying a charming Shiba Inu donning a delightful pink-knitted hat. With a market cap of $3.46 Billion, this asset holds its position among the top 40 largest cryptocurrencies.

The last correction trend in WIF price bottomed at the $2 psychological level amid Bitcoin Halving. The positive turnaround has surged the coin value 82.75%, restoring over 50% of its value evaporated in the last downturn.

With an intraday jump of 17%, the WIF price gave a decisive breakout from the downsloping trendline to currently trade at $3.52. If the breakout sustains, the memecoin buyers may drive a rally to $4.3, followed by $4.85.

3) BONK

BINANCE:BONKUSDT Chart — BONK| Tradingview

BONK, the Solana-based meme cryptocurrency has been witnessing aggressive inflow since last week following a reversal from $0.0000132 support. This upswing has propelled the memecoin price to $0.0000276, registering a growth of 114%.

This recent surge in the BONK price is likely accelerated through its listing on global neobank Revolut’s trading platform. This development increases BONK’s visibility and accessibility to a wider audience of potential investors, driving up demand.

$BONK is now available on @revolutapp❗️❗️❗️

Users in the EU and other eligible countries can now trade in app, along with a Learn and Earn program starting on April 29th#LetsBONK https://t.co/ytW9rJu8a3

— Bonk! (@bonk_inu) April 23, 2024

As per coinmarketcap, the BONK currently holds a market cap of $1.08 Billion, while the 24-hour trading is recorded at $703.2 Million.

If the bullish momentum persists, the BONK price could breach the overhead resistance of $0.00003, favoring buyers to lead a higher recovery to $0.000036 and $0.0000428.

Also Read: BDAG’s $0.001 Price Surge Surpasses ETH Bull Run & BONK Price

Key Takeaway

The anticipation of post-halving is still high among market participants as leading cryptocurrencies, Bitcoin and Ethereum witnessed active accumulation from whales. The meme coin sector is outperforming in the new relief rally last Friday projecting their capability of leading high momentum rally amid positive development in the broader market.