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The crypto market got off to a bad start to the week on Monday, with Bitcoin falling below $60,000 and Ethereum below $3,300. Concerns about macroeconomic factors such as the Federal Reserve’s stance on interest rate cuts, as well as news that the defunct Mt. Gox exchange will soon begin distributing payments to its creditors in Bitcoin and Bitcoin Cash, have added to the instability. However, dogwifhat Certain Solana meme coins such as (WIF) and Popcat (POPCAT) managed to reverse the trend on Tuesday.
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Dogwifhat (WIF), launched in late 2023, stands out as a meme coin in the Solana ecosystem. Although it has no utility beyond its fun mascot with a pink knit hat, it has gained significant attention for its light-hearted approach and community focus. WIF’s rapid price growth and ability to outperform established meme coins such as DOGE on Solana has surprised some investors and once again highlighted the unpredictable nature of meme coin popularity. According to CoinGecko data, WIF is one of the most recovered Solana meme coins. The token increased by 24% to $1.9 in 24 hours and reached almost $1 billion with a huge increase in trading volume. Dogwifhat ranks 58th among other cryptocurrencies with a market value of $1.9 billion. It has a circulating supply of almost 1 billion meme coins and a similar total supply. The currently popular meme coin rose to an all-time high of $4.83 in March this year, but is currently trading 60% below its ATH due to the widespread correction in the crypto market over the past three months. Continuing its 24% rise in 24 hours, WIF shows the potential to recoup losses and climb to a higher record high. -
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Popcat (POPCAT) stands out as a meme coin that emerged in the Solana ecosystem in late 2023. POPCAT, a reference to the viral “popcat” meme featuring a cat with exaggerated mouth movements, provides little utility beyond meme status. However, with its community enthusiasm and playful nod to internet culture, POPCAT has surpassed established Solana meme coins in its early growth period. This brought Popcat into the spotlight of the meme coin craze and demonstrated the still strong influence of internet trends in the crypto space. Recent price movements also support this. POPCAT has increased significantly by 60% in the last two weeks and is trading at $0.4. According to CoinGecko data, the token currently has a market cap of $386 million and appears to have the potential to cross the $1 billion threshold due to the impact of the bull market. Unlike other meme coins, Popcat stands out with a relatively lower total supply of less than 1 billion coins. If demand for this token continues, it is close to surpassing its all-time high of $0.72. However, there is a possibility that Popcat could rise to unprecedented levels.
