With the incredible growth in the price of Bitcoin in recent days, meme coins have returned to shine. Is the altseason coming back?
Over the last seven days, the cryptocurrency market has experienced a phase of notable volatility and growth, with Bitcoin recording a positive performance of 13% reaching $69,000.
This also triggered a significant rise in some altcoins, which recorded mind-boggling capital returns. In this context of strong volatility, the so-called meme coin have come back to light, i.e. cryptocurrencies created for fun and without a fundamental value, but which are gaining popularity thanks to an ever-growing speculative interest.
- BTC/USD, 1W
- Source: Teletrader.com
This is often traced back to phases of extreme polarization in the market. The Fear & Greed Index has exceeded 90 points, reaching important highs and signaling a widespread and worrying greed on the market.
Among the best-performing altcoins are ShibaInu, Pepe, and Floki.
1. ShibaInu (SHIB)
ShibaInu, often referred to as the "DOGE killer", has shown an impressive increase in the last few weeks, recording a performance of 221% in the last 7 days. This cryptocurrency, born as a tribute to the image of the Shiba Inu dog, similar to that associated with Dogecoin, immediately captured the attention of crypto investors, becoming one of the most capitalized altcoins on the market.
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2. Pepper (PEPE)
Another altcoin that has caught attention is Pepe, inspired by the iconic Internet meme. This cryptocurrency has only recently gained popularity thanks to the meme that represents it, a sort of frog, one of the most used symbols by traders and enthusiasts of the cryptocurrency market.
Despite its apparently ironic launch, there was a lot of euphoria behind the Pepe "project", to the point of making it one of the 100 most popular projects in the world of cryptocurrencies. The PEPE token has gained 170% in the last 7 days, placing it in second place in the list of the best-performing tokens of the week.
3. Floki (FLOKI)
Floki is another meme coin that has captured a lot of attention from on-chain investors in recent years. Its peculiarity lies in the name, which corresponds to that of Elon Musk’s founder’s dog. The community supporting crypto, consequently, has rapidly grown along with the popularity of the eclectic entrepreneur. FLOKI ranks third, after SHIB and PEPE, with a performance of 136%.
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Dogecoin (DOGE)
In the ranking of the best-performing tokens, one of the most loved meme coins of all time is missing, DOGE, which, despite a 60% growth recorded in less than 7 days, is no longer positioned among the best-performing tokens, probably because it also has a higher capitalization than the other cryptocurrencies listed.
Original article published on Money.it Italy 2024-03-07 18:17:00. Original title: Queste criptovalute battono il Bitcoin (e di molto)
