In the past day, memecoins like WIF, BOME, and FLOKI have surged, showing substantial price increases and entering the top 10 gainers on CoinMarketCap. This surge is notable amid market volatility, with Bitcoin trading around $68,518, staying below $70,000.
During the recent memecoin surge, WIF experienced a significant 21% increase in just 24 hours, reaching a price of $4.06. This surge coincided with a substantial open interest of $555.95 million. Meanwhile, FLOKI saw its total value locked (TVL) climb to $820 million, boosted by the launch of a trading bot beta that sparked an 11% price increase. Additionally, BOME rallied by 11.68%, pushing its market cap above $1 billion amid the broader rally in memecoins.
Memecoins Surge Led by WIF, BOME, and FLOKI
In recent trading, memecoins such as WIF, BOME, and FLOKI have surged, driven by a resurgence in meme stocks like GameStop (GME). GameStop’s stock rose by 23% after raising nearly $1 billion through stock sales, reigniting interest in meme cryptocurrencies among retail investors.
Dogwifhat (WIF) Sees Strong Surge Amid Memecoin Rally
Dogwifhat (WIF), a memecoin built on the Solana blockchain, has experienced a notable 21% increase in its price over the past 24 hours. This surge coincides with a significant rise in open interest for WIF, which has surged by over 32% to reach $555.95 million. This uptick in open interest signals robust investor interest and heightened trading activity surrounding WIF.
Dogwifhat (WIF). Source: X
Adding to the momentum, a whale investor sold 539,558 WIF tokens during the rally, amounting to $24.1 million, further bolstering WIF’s price trajectory. Analysts have expressed optimism, suggesting that if the current bullish trend persists, WIF could potentially achieve an all-time high in the near future.
Despite briefly touching $4.06 and encountering resistance, confidence remains strong in WIF’s ongoing rally. As of the latest update, WIF is trading at $3.91, reflecting a 20% increase from its intra-day low and a substantial 38% surge over the past month.
FLOKI Surges on Trading Bot Launch and Coinbase Listing Announcement
FLOKI, a prominent memecoin, experienced an 11% price increase following the launch announcement of its Floki trading bot’s closed beta on Telegram. This trading bot supports multiple blockchain networks, including Ethereum, BNB Chain, and Coinbase’s Base blockchain, attracting significant attention among crypto enthusiasts. Early access to the beta was offered to 150 users on a first-come, first-served basis, further heightening interest.
The Floki trading bot applies a 1% fee per trade, with half of this fee used to buy and burn FLOKI tokens, thereby reducing supply and potentially increasing the token’s value through deflationary measures. This development, coupled with the anticipation surrounding FLOKI’s listing on Coinbase for perpetual futures trading starting May 30, has bolstered investor confidence, with analysts predicting a potential breakout to a new all-time high.
Floki. Source: X
Simultaneously, FLOKI’s Total Value Locked (TVL) achieved an unprecedented milestone, reaching $820 million. This figure surpasses the combined TVL of other leading memecoins like PEPE, WIF, BONK, DOGE, and SHIB. As of the latest update, FLOKI is trading at $0.0002915, marking a 6.89% increase from its intra-day low. Additionally, its open interest surged by 22% to $37.14 million, underscoring growing investor conviction in its ongoing bullish trend.
BOME Surges Amid Memecoin Rally
BOME, another memecoin based on the Solana blockchain, has been a notable participant in the recent surge among memecoins, demonstrating consistent upward momentum. The token has benefited significantly from the prevailing bullish market trend, driven by heightened investor enthusiasm and the fear of missing out (FOMO). As memecoins capitalize on the current market sentiment, BOME’s steady ascent contributes to the growing cohort of tokens achieving new all-time highs.
BOME. Source: X
As of the latest update, BOME is trading at $0.01547, reflecting an 11.68% increase from its 24-hour low of $0.01345. This surge in price has coincided with notable increases in market capitalization and 24-hour trading volume, which rose by 11.48% and 10%, respectively, reaching $1,034,866,121 and $749,602,221. These metrics underscore growing investor interest and active trading activity surrounding BOME amidst the broader memecoin rally.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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