Memecoin prices have skyrocketed in recent days, indicating a significant surge within the sector. Will PEPE,WIF AND FLOKI RISE?
The memecoin sector was one of the few spaces that was impacted heavily by the recent market drawdown. However, as the markets have recovered, so have the prices of multiple memecoin tokens.This surge coincided with a broader market trend, as the total daily trading volume for cryptocurrencies doubled to approximately $1.65 billion.
Further, the RSI fell materially in the last few days, implying that the token recently left the overbought territory.climbed 14.04% to reach a price of $2.08. As the 44th largest cryptocurrency by market cap, it recorded a daily trading volume of $632 million. Despite the price surge, the overall social sentiment around these tokens fell. AMBCrypto’s analysis of Santiment’s data revealed that Social Sentiment around FLOKI, PEPE AND WIF had declined.Despite this rise, Bitcoin’s market dominance slightly decreased by 0.26% to 52.63%, suggesting heightened activity in the altcoin market.
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