Meme Coins Cheer The Most with Bitcoin (BTC) Price Recovery Above $70,000
Highlights
- Meme coins have continued their upward trajectory alongside Bitcoin's resurgence.
- Meme coins like DOGE, TRUMP, AIDOGE, and SPX have outperformed other altcoin category.
- Bitcoin meme coin project PUPS skyrocketed by 1,075% over the past week.
Soon after the US CPI data release for March, with inflation hotter than expected, the Bitcoin price tanked under $67,000 losing its crucial support level. However, hours later, BTC was quick to regain past $70,000 as investors looked forward to the upcoming halving next week. Although the Bitcoin price recovery helped the broader crypto markets recover, the meme coins benefitted the most from it.
Meme Coins Party Continues
According to insights from on-chain data provider Santiment, Bitcoin’s resurgence above the $70,000 mark has coincided with continued gains for meme coins, indicating a redistribution of profits among traders. Despite differing opinions on their role within the cryptocurrency sphere, meme coins have outperformed other categories of altcoins in recent days.
The surge in speculative assets has been a defining trend in 2024. Traditionally, rapid price increases in projects with limited development progress can serve as a warning sign that the cryptocurrency market is approaching a peak.
However, the recent market cap growth observed in coins like DOGE, TRUMP, AIDOGE, and SPX may not necessarily signal the end of the rally, especially with the Bitcoin halving event, historically associated with bullish sentiment, just 9 days from now.
Bitcoin-based PUPS Make Solid Gains
PUPS, a meme coin project built on the Bitcoin blockchain, has experienced a remarkable surge in value, with its price soaring by an impressive 1,075% over the course of the last seven days.
According to data from CoinGecko, PUPS is presently trading at $45.40, hovering just below its recently established all-time high of $47.44. The heightened activity surrounding PUPS extends beyond its price surge, with its BRC-20 NFT collection witnessing a staggering 6,948% increase in sales over the same seven-day period.
Additionally, statistics show that PUPS BRC-20 NFTs have secured the second position in terms of sales volume over the past week, amassing a total of $18.4 million from 3,232 transactions involving 1,161 buyers. This achievement surpasses the performance of NodeMonkes, which recorded $11.72 million in sales, marking a comparatively modest increase of 108.61%.
The success of PUPS reflects a broader trend observed in the market. Over the last seven days, sales volume of NFTs on the Bitcoin blockchain has surpassed that of Ethereum and Solana, two platforms traditionally synonymous with NFT activity.
- Bitcoin Extends ATH Rally as Market Prices In Three-Week U.S. Government Shutdown
- Paul Tudor Jones Predicts Explosive Bull Market Amid Bitcoin’s ‘Uptober’ Rally
- Robinhood Outage Reported by Users, HOOD Stock Drops
- Tom Lee’s BitMine Adds $820M Worth of Ethereum as ETH Rebounds
- Crypto Crime Hits $2.47 Billion in H1 2025, With Wallet Hacks on the Rise
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
