Crypto markets are making a rebound as macroeconomic data drives bullish reactions in top assets and meme coins. Recovering from weekly lows which saw billions in outflows and massive liquidation of long positions, crypto enthusiasts forecast growth to previous highs.
At press time, the total crypto market cap stands at $2.52 trillion, a 3% increase while meme coins moved up 1% to $61.9 billion. The recent CPI data is igniting market participants as United States inflation cools. Year-on-year figures in May were at 3.3% below the projected 3.4% expectations. Similarly, core CPI increased by 3.4% against the anticipated 3.5%. Monthly numbers also came in cooler than expected with market bulls projecting future interest rate cuts. Here are the top meme coins skyrocketing following the CPI data.
Zoomer (Sol)
Zoomer is the biggest gainer in the last 24 hours recording gains above 140%. The assets surged 157% this week despite slow performance due to the wider market downturn. Overall, its number remained in the green zone despite the crypto correction with a wider 221% rise. Zoomer’s market cap ticked up to $1.6 million while trading volumes are slightly above the $1 million mark.
Keyboard Cat (KEYCAT)
Keyboard Cat follows Zoomer in top meme coins with 300X potential. The asset is up 114% today wiping off weekly losses due to the wider market correction. In the last seven days, KEYCAT has been up 15% while monthly numbers stand at a loss. According to CoinGecko data, the asset is up $1.6 million with daily volumes above 252,000. Cat-themed tokens have shown sharp peaks this year recording huge gains.
CatSolHat (SOLCAT)
The popular SOLCAT soared 86% in the last 24 hours with positive mid-day trading as bulls rally behind cooler CPI data. These gains wiped off losses taking weekly gains up to 3.1%. With trading volumes above $420,000, its community anticipates an increased market capitalization. Generally, reduced inflation signals possible lower interest rates that could drive inflows to risky assets.
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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
