Top Memecoins Fail to Surge High Amid the Crypto Market Recovery

Bullish Momentum in the Memecoin Market

In the past 24 hours, the market capitalization of memecoins has experienced a 2.5% increase. Despite maintaining a neutral sentiment, the fear and greed index remains at 58.

Altcoins Gain Ground

The crypto market has entered a brief bullish phase. Altcoins, including Bitcoin and Ethereum, have recorded significant gains in the last day. While the memecoin market has also shown an uptrend, its price surges have been relatively modest.

Memecoin Performance

Data from Dune Analytics indicates that the 30-day relative strength for memecoins suggests a lagging signal. The memecoin market cap has remained at $54.7 billion in the last 24 hours, with a notable daily trading volume of $8.75 billion.

Strong performers include:

• PEPE (up 5.66% to $0.00001262)
• BONK (up 5.49% to $0.00002824)
• SHIB (up 2.47% to $0.00001956)

Other notable memecoins, such as Dogecoin, Floki, and Dogwifhat, have also shown price increases:

• DOGE (up 2.65% to $0.126)
• FLOKI (up 1.28% to $0.0001887)
• DOGWITHAT (up 4.05% to $2.27)

Crypto Market Recovery

The recent surge in the crypto market is significant. In the past week, the global crypto market capitalization has grown from $2.2 trillion to $2.4 trillion, while the daily trading volume has increased by 17.38% to $97.89 billion.

Following an earlier bearish phase caused by the sale of BTC by the German government and Mt. Gox's BTC repayment to creditors, the market has recovered.

• Bitcoin (BTC) has spiked by 2.13% to $65,789 amid speculation surrounding Trump's pro-crypto stance and the appointment of JD Vance as a pro-crypto VP candidate.
• Ethereum (ETH) has crossed a key resistance, hitting $3,517, in anticipation of the launch of the spot Ethereum ETF.

Highlighted Crypto News

• Examining the potential impact of Trump's pro-crypto stance on his campaign