The cryptocurrency market experienced a sharp drop recently amid geopolitical tensions in the Middle East over the weekend. However, given the reduction in tension between countries and the approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong on April 15, the sector has achieved a remarkable recovery.
Following most cryptoactives, memecoins are showing a very significant price increase. Are Memecoins back? Given this scenario, the Cat in a dogs world (MEW) token emerged on the rise, positioning itself as one of the biggest gainers on the market. MEW memecoin exploded 86.1% in the last 24 hours alone, trading at $0.005408.
The memecoin Degen (DEGEN) is also attracting attention in the market with its appreciation of 28.2% in the last day, trading at US$0.03034. The three largest memecoins, Dogecoin (DOGE), Shiba Inu (SHIB) and Dogwifhat (WIF) showed important increases, rising almost 7% each.
In the last 24 hours, both Brett and Floki Inu (FLOKI) have also risen notably, gaining 6.6%. The Brett memecoin is standing out and attracting attention, even being placed as a crypto trend in the market today.
The market capitalization of memecoins is currently US$53,196,586,178, showing growth of
9.6% in the last 24 hours. Furthermore, volume recorded in 24 hours was US$8,279,238,716.
It is worth noting that the memecoin sector has been greatly impacted in recent days and many popular cryptocurrencies of this type ended up recording losses of more than 20%.
Bitcoin recovers and returns above US$66,000 after a sharp drop over the weekend
The recent conflict between Iran and Israel generated more than geopolitical tensions. The impact extended to the cryptocurrency market, which saw a sharp slowdown. The largest cryptocurrency on the market, Bitcoin (BTC), experienced a sharp drop, reaching a price of US$60,800. On Friday, April 12, the price of BTC was in the $70,000 zone.
However, following a reduction in tension between the countries and the approval of exchange-traded funds (ETFs) in Hong Kong, Bitcoin managed a notable recovery, propelling its price above $66,000.
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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/memecoins-estao-de-volta-criptomoedas-disparam-em-meio-a-recuperacao-do-mercado/
