cryptocurrency The market is back in the green zone after suffering huge losses in the last few days. Bitcoin (BTC) briefly rose to $60,000, while Ethereum (ETH) regained the $3,000 level.
meme coin The industry has also seen a more pronounced revival. Moreover, many assets in this space have outperformed the leading ones.
Some prominent examples include Pepe, dogwifhat and Bonk Inu. All of these assets showed double-digit increases on a daily basis.
Another meme coin that made remarkable gains was Popcat (POPCAT). According to CoinGecko data, the cat-themed token has increased by 25% in the last 24 hours. Moreover, it briefly rose above its all-time high of $0.60. It is currently trading at around $0.56.
How are things going in DOGE and SHIB?
Two giant breast coins dogecoin and the Shiba Inu has also been on a modest rise lately. DOGE recorded a 7% increase on the day, while its rival SHIB gained slightly more.
Analysts foresee bright potential for both assets in the near future. For example, analyst Ali Martinez suggested that DOGE’s recent price decline is a typical behavior often seen before major bull runs. Similar situations have been observed in the past when the value of the meme coin dropped and soon rose significantly.
SHIB also seems ready for a bull run with some positive developments in its ecosystem. Factors such as the increasing token burn rate and the development of a layer-2 scaling solution called Shibarium contribute to this positive outlook.
Recently, the network has undergone significant upgrades to improve user experience, provide faster block processing times, and strengthen the community of developers and innovators.
