Crypto Price Prediction 4/24: Meme Coins Lead Market Rally With Double-Digital Gains

Crypto Price Prediction: The cryptocurrency market has witnessed a fresh relief rally since last week following the completion of Bitcoin Halving. The renewed demand pressure signaled a local bottom formation for BTC at $60000, propelling its price to $67000.

Moreover, Santiment reports that Bitcoin whales holding 1,000 to 10,000 BTC have bolstered their positions, accumulating an additional 266,000 BTC since early 2024. This uptick constitutes a significant 1.24% of the total Bitcoin supply. Amidst an emerging sentiment of FOMO within the crypto community, these whales now control 25.16% of all circulating Bitcoin, strengthening the potential of higher rally.

🐳 #Bitcoin's key whale tier holding 1K-10K $BTC are supporting this rise, and have now accumulated 266K more $BTC since the start of 2024. This translates to an accumulation of 1.24% of the entire supply. The crowd is also showing a high degree of #FOMO. https://t.co/fNSTOERzXo pic.twitter.com/qaJmQJfFca

— Santiment (@santimentfeed) April 24, 2024

As per recent data, the Meme coin sector is leading the post-halving with assets such as Bonk, Dogwifhat(WIF), Floki, and Pepe coin (PEPE) registering double-digit growth today.

Also Read: Crypto Prices Today April 24: Bitcoin At 67K, ETH Gains, Hedera & Bonk Skyrocket

1) Dogecoin (DOGE)

Dogecoin (DOGE) began as a meme but has grown into a notable cryptocurrency with a strong community. Initially created in 2013 as a playful alternative to Bitcoin, Dogecoin features the Shiba Inu dog from the “Doge” meme as its mascot.

For nearly two months, the DOGE price has led a sideways action resonating within two converging trendlines in a daily chart. The memecoin currently trades at $0.161, showcasing no clear dominance from buyers or sellers with the neutral candle.

The current market cap of Dogecoin stands at $23.26 Billion, while trading volume since yesterday’s gain surged to $1.234.

A potential upside breakout from this triangle will signal the continuation of the recovery trend, bolstering the DOGE price to target the $0.206 barrier, followed by $0.22.

Also Read: Explosive Raffle Coin Soars in Presale Stage 1, As Dogecoin Millionaire Stakes Big, Whilst Shiba Inu Soars Once More