The cryptocurrency market witnessed a mixed performance today; While Bitcoin and Ethereum experienced a slight decrease, altcoins such as Solana, XRP and Cardano experienced an increase. But the real story lies in the meme coin sector, where Dogwifhat (WIF) is struggling.
Mixed signals in major cryptocurrencies: Bitcoin is falling
Bitcoin (BTC) continues to hover on the verge of a significant decline and is currently hovering just above $70,000. Trading volume has also decreased by a quarter in the last 24 hours. Ethereum (ETH) mirrored a similar trend and fell below $3,600 amid a decline in trading activity. Among altcoins, Solana (SOL) defied the bearish trend and approached the $200 level again. XRP (XRP) remains above $0.62 while Cardano (ADA) made a modest gain. Popular meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) remained relatively flat.
Dogewifhat surpasses PEPE
But the biggest story in the crypto world today belongs to Dogwifhat, a meme coin built on the Solana blockchain. WIF has been on a phenomenal rise over the last two days, establishing itself as the biggest gainer among all cryptocurrencies. This bullish momentum began when WIF found support at $3.17 and rose to a record-setting $4.61 as buying pressure increased. This impressive rally is partly attributed to the recent partnership with Telegram’s powerful bot Miss Rose.
Miss Rose is a prominent bot in the Telegram ecosystem, present in over 14 million chats and serving over 600 million users. This collaboration marks a significant milestone for Dogwifhat, potentially expanding its reach and utility to a wide user base.
The market responded positively to this news, with WIF’s price experiencing a significant increase of over 15% in the immediate aftermath. This increase underlines investors’ confidence in the potential of this partnership. Dogwifhat’s ability to leverage Miss Rose’s extensive user access and multilingual support can significantly increase its visibility and adoption. Moreover, the positive response from the Market has made Dogwifhat the third largest meme coin by market cap, surpassing its meme coin rival PEPE.
Other rising altcoins
Apart from WIF, if we look at the top 100 cryptocurrencies by market capitalization, 4 more altcoins stand out. Jupiter (JUP) rose by 18 percent in the last 24 hours. cryptokoin.com As we reported, well-established altcoin Litecoin (LTC) gained momentum by 9.6 percent. Mantle (MNT) increased by 7.5 percent and Gate (GT) increased by 7.3 percent.
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