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recent bitcoin bisector I woke up late on FridayReduced miner rewards by half. fourth in history—But BTC itself isn’t the biggest winner in the cryptocurrency market this weekend. Instead, it is meme coins that are leading the charge, with some standout tokens displaying significant double-digit percentage jumps in the final days.
Dog-themed coins were among the biggest winners to date this weekend. Solana-based Bonk chart A whopping 37% jump In the last 24 hours alone, the price has risen, jumping to the current price of $0.000021, per data from CoinGecko. BONK, along with the rest of the market, is effectively back where it was before it plummeted on April 12th.
BONK has by far seen the biggest moves among the top 100 coins by market capitalization, while other dog-centric meme coins Ethereum I’m doing well this weekend too: FLOKI Soared nearly 19% On the last day it rose to almost $0.00017. shiba inu (SHIB) is Up 14% at prices above $0.000026.
Other hot meme coins at the moment include Ethereum’s PEPE. 13% increase Almost $0.000006, Dogwifehat powered by Solana (WIF) rose nearly 8% to around $3.00.
Ethereum and Solana meme coin traders can return to familiar and established meme coins, while others explore new areas of minted tokens. through runes, a new Bitcoin fungible token standard released with risks. This protocol was created by Casey Rodarmor, the inventor of the Ordinals protocol, which is similar to NFTs.
There was a ton of hype around Runes as the creator of the project. competing to be one of the first. Use the protocol to release Bitcoin tokens and users Millions of dollars were collectively spent. Tokens will be created and minted during the first few blocks following the halving later on Friday. However, trading volumes so far have been relatively low. OKX Marketplace.
According to OKX, the most traded Loon token over the past 24 hours is Satoshi Nakamoto, named after the pseudonymous inventor of Bitcoin. The token has about $2.7 million worth of trading volume over the period, with a market capitalization of $136 million and a Bitcoin price of about $6.50.
That kind of market capitalization wouldn’t put the Satoshi Nakamoto token anywhere near the top 100 of all cryptocurrencies by market capitalization. CoinGeckoThis gives us some idea of the current demand for early runes. However, some traders are confident that interest in these early runes will grow as trading tools improve and protocols become more established.
Bitcoin itself did not generate much short-term momentum following the halving. It rose about 1.5% on the day to its current price just below $65,000, and has only risen to around 3% at best since Friday night’s action.
However, historically, Bitcoin’s biggest halving gains occurred months later, as the effects of slowing supply growth began to be felt across the ecosystem.
Moreover, this was a unique cycle in that Bitcoin actually hit a new all-time high in March, breaking its 2021 high. from now on Spot Bitcoin ETF halved amid gains. This time, post-halving price action is entering uncharted territory.
disclaimer
The views and opinions expressed by the author are for information purposes only and do not constitute financial, investment or other advice.
