Price Analysis

Here’s Why POPCAT, WIF, PEPE Are Making Strong Comeback?

Unveil reasons behind the resurgence of meme coins POPCAT, WIF, and PEPE, highlighting market trends, investor interest, and price movements.
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Here’s Why POPCAT, WIF, PEPE Are Making Strong Comeback?

Highlights

  • POPCAT's price surged by 65% in one month, driven by a notable increase in whale investments.
  • Despite a recent market downturn, POPCAT and Pepe Coin both experienced notable price increases due to external factors.
  • Dogwifhat's value increased by 26%, fueled by a surge in Solana's ecosystem and its related cryptocurrency.

The cryptocurrency market is showing signs of robust growth, particularly in the meme coin sector, despite the recent market crash. POPCAT, WIF, and PEPE lead this trend, poised for significant returns. The recent approval of a spot Ether ETF has boosted interest in tokens like PEPE, suggesting further increases as the ETF gains traction.

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Popcat (SOL) POPCAT

POPCAT, a Solana-based meme coin, has experienced a significant surge of 65% over the past month, reflecting a strong uptrend in its market performance. 

Since its launch, the token has registered an impressive gain of more than 4529%, highlighting its growing acceptance and investor interest within the crypto community. 

On July 21, 2024, POPCAT reached an all-time high of $0.9976, marking a milestone in its trading history. At the time of reporting, Popcat price is trading at $0.7488, with a slight dip of 13% in the past 24-hours.

Source- Santiment

This rise was mirrored by a spike in social media mentions, suggesting growing speculative interest. Investors are increasingly discussing Popcat, indicating a surge in its market presence.

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Dogwifhat (WIF)

Dogwifhat, a popular meme coin has experienced a notable surge over the past month, as reflected in its 28.03% increase. The bullish trend coincides with a general surge in other Solana-based altcoins and Solana itself. 

Despite the current bearish trend affecting many sectors of the cryptocurrency market, Dogwifhat has demonstrated significant resilience and growth. At the time of writing, the coin is trading at $2.46, with a dip of 6% in the past 24-hours.

WIF price chart| Source: TradingView

The daily technical indicators for WIF exhibit interesting trends. The Moving Average Convergence Divergence (MACD) shows a slight bullish momentum as the MACD line (blue) is above the signal line (orange). However, the histogram bars, still in the red, indicate that bullish momentum may be slowing down. The Relative Strength Index (RSI), positioned at 55, suggests that WIF is neither overbought nor oversold.

Pepe (PEPE)

Pepe is experiencing notable growth, with its price now surpassing $0.000011. Despite a slight downtrend, The meme coin trades at $0.00001137 during U.S. market hours, reflecting a 5% drop. This cryptocurrency now boasts a market cap of $4.7 billion, making it the 22nd largest in terms of market capitalization, as per CoinMarketCap.

Investor sentiment appears bullish as Pepe sees a significant uptick in open interest, now at $128 million, despite today’s 10% dip. This marks a surge in trader confidence, with many opting for long positions, underscoring a strong market belief in the token’s potential. 

Notably, this interest comes amid increased activity from larger investors and a broader enthusiasm for meme-based digital assets, similar to trends seen with Ethereum.

Source- Coinglass

This heightened activity and optimistic outlook may stem from recent developments and approvals within the Ethereum-based market sectors, which continue to influence similar tokens. Such dynamics suggest that Pepe may soon witness further gains if the market conditions remain favorable.

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Frequently Asked Questions

Why are POPCAT and other meme coins increasing in value?

Increased investments and the recent approval of a spot Ether ETF have boosted interest and prices in meme coins like POPCAT.

How is Dogwifhat performing in the current market?

Dogwifhat has seen a 28.03% rise this month, showing resilience despite a broader market downturn.

What is the investor sentiment towards Pepe Coin?

Sentiment is bullish with Pepe Coin’s market cap making it the 22nd largest, reflecting strong confidence in its future growth.
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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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