Coin Edition -
- WIF soars 21% in 24 hrs, reaches $4.06 amid $555.95M in open interest.
- FLOKI’s TVL hits $820M, trading bot beta sparks 11% price jump.
- BOME rallies 11.68%, market cap exceeds $1 billion during memecoin surge.
In the past 24 hours, memecoins have staged a significant rally. Leading the charge are $WIF, $BOME, and $FLOKI, all of which have seen impressive price increases and跻身 (jī shēn) – entered – the top 10 crypto gainers according to CoinMarketCap data. This surge comes despite broader market volatility, with Bitcoin (BTC) remaining flat below the $70,000 mark, trading at $68,518 at press time.
Analysts attribute the surge in $WIF, $BOME, and $FLOKI to the recent rise in meme stocks, which has rekindled interest in meme cryptocurrencies. GameStop (GME), often seen as the catalyst for this movement, experienced a 23% increase after announcing it raised nearly $1 billion through stock sales. This resurgence has attracted renewed attention from retail investors and paved the way for the ascent of meme cryptocurrencies.
dogwifhat (WIF)
Solana-based Dogwifhat (WIF) has also seen substantial gains, jumping by 21% in the last day. The increased open interest in WIF, by over 32%, now at $555.95 million, indicates strong investor interest and significant trading activity.
Adding to the momentum is the sale of 539,558 WIF tokens by a whale investor, who profited handsomely – to the tune of – $24.1 million from the recent rally. As memecoins continue to gain traction, WIF’s strong performance positions it as a key player in the ongoing rally. Analysts have weighed in, predicting an all-time high soon if the bull rally continues.
Source: X
WIF briefly touched a 30-day high of $4.06 before encountering resistance, but optimism surrounding its rally remains strong. As of press time, the WIF price was at $3.91, a 20% surge from the intra-day low and a 38% surge in the last month.
Floki (FLOKI)
The price of FLOKI rose by over 11% following the announcement of the Floki trading bot‘s closed beta launch on Telegram. The bot supports multiple blockchain networks, including Ethereum, BNB Chain, and Coinbase’s Base blockchain. This multi-chain compatibility has drawn considerable attention, with the beta offering early access to 150 users on a first-come, first-served basis.
Floki’s trading bot charges a 1% fee on each trade. Half of the fee is used to purchase and burn FLOKI tokens, thus increasing the token’s value through deflation. Further fueling the excitement, FLOKI’s announcement of its listing on Coinbase (NASDAQ:COIN) for perpetual futures trading on May 30 has boosted investor confidence. With this announcement, analysts have pointed to a potential breakout to a new all-time high.
Source: X
Concurrently, FLOKI’s Total Value Locked (TVL) reached an all-time high of $820 million, surpassing the combined TVL of other top memecoins, including PEPE, WIF, BONK, DOGE, and SHIB. As of press time, FLOKI was trading at $0.0002915, a 6.89% surge from the intra-day low. Subsequently, its open interest has surged by 22% to $37.14M, reflecting the increased investor conviction in its bull run.
BOOK OF MEME (BOME)
BOME, also a Solana-based memecoin, has also been part of the meme coin rally, showing consistent upward movement. The token has benefited from the overall bullish trend in the market, driven by investor excitement and the fear of missing out (FOMO). As memecoins capitalize on the current market sentiment, BOME’s steady climb adds to the growing list of tokens reaching new all-time highs.
Source: X
As of press time, BOME was trading at $0.01547, an 11.68% rally from its 24-hour low of $0.01345. This surge was accompanied by a rise in market capitalization and 24-hour trading volume by 11.48% and 10%, respectively, to $1,034,866,121 and $749,602,221.
The post Memecoins Surge: WIF, BOME, and FLOKI Lead Crypto Rally appeared first on Coin Edition.