Dog-themed meme coins surge compared to rivals as digital assets attempt a recovery. In the past 48 hours, crypto assets have notched a slight rebound across Bitcoin (BTC), altcoins, and meme coins. Bitcoin price stands a little above $65,000 after intraday trading moved sideways. While meme coins were the biggest gainers, some categories spiked more than others due to several factors.
Dog-themed meme coins are above rivals with their market capitalization at $35.6 billion soaring 1% while other meme tokens are collectively in the red zone. The popularity of dog-themed tokens plays a role in the developments with positive recovery from leaders, Dogecoin (DOGE) and Shiba Inu (SHIB).
Dog-Themed Meme Coins Ignite Bulls
Aside from making an upward run boosting factors for other assets, several dog-themed crypto have seen a spike in daily prices. AMATERASU OMIKAMI is up 25.6% trading at $0.113 in the last 24 hours. PolyDoge and Dingocoin followed suit with gains of 7.1% and 6.2% respectively.
Dogecoin went uphill to 1.2% gains exchanging hands at $0.1244 amid speculation of a future bull run. FLOKI and BONK joined DOGE in the green zone with 2.5% and 0.3% inflows respectively in the past 24 hours.
Usually, dog-themed tokens see more bullish sentiments because of community depth and the addition of utilities to some assets. The recent accumulation of meme assets also added to the demand for top assets as macroeconomic indicators moved positively. Slowing inflation and interest rate cuts are positive indicators because investors tend to move funds to risky assets.
Solana and Cat-Tokens Fall
Other meme coins categories are down despite little inflows to gainers. Solana meme coins soared in Q1 2024 following a frenzy on the back of renewed maker optimism. At press time, Solana meme coins recorded a 1.3% with a market capitalization of &6.1 billion. Similarly, cat-themed tokens which saw inflows last month plummeted alongside other crypto assets. These assets are down $1.4% in the last 24 hours.
Also Read: These Solana Meme Coins Are Breaking Out This Week
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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.
