🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Dogecoin Sprints Off With Meme Cousins Over The Weekend: Here Are 4 Cryptos Trading With 10%+ Gains

Published 04/05/2024, 21:44
Updated 04/05/2024, 23:10
© Reuters.  Dogecoin Sprints Off With Meme Cousins Over The Weekend: Here Are 4 Cryptos Trading With 10%+ Gains
BTC/USD
-
DOGE/USD
-

Benzinga - by Shanthi Rexaline, Benzinga Editor.

The weekend dawned with frenzied activity in meme coins, spearheaded by a newcomer among the pack. The gains came on the back of broad-based strength seen in the cryptocurrency space.

The Movers: Solana (CRYPTO: SOL)-based, dog-themed meme coin Dogwifhat (CRYPTO: WIF), which launched in November 2023, led the gains among the meme coins. At last check:

  • WIF rose 17.63% over the past 24 hours to $3.47.
  • Dogecoin (CRYPTO: DOGE) climbed 14.88% to $0.1613.
  • Floki (CRYPTO: FLOKI) surged up 14.26% to $$0.0001955.
  • Pepe (CRYPTO: PEPE) rose 11.23% to $$0.000008846.

What’s Driving The Rally: Meme coins have been on an uptrend since late April and the strength was sustained for much of the week amid the Federal Reserve’s rate decision and Jerome Powell’s dovish comments.

The weekend acceleration came as some publications reported that Elon Musk’s electric-vehicle company Tesla would accept payment for certain products in Doge on its online shop. This, however, is not a new development.

Crypto analyst Ali Martinez predicted on Wednesday that Doge could be priming for a bull run. Sharing a long-term chart of the crypto on X, formerly Twitter, he said the meme coin was tracing a pattern, which has been a precursor for the bull runs in the past.

The move could have to do more with momentum buying. Meanwhile, Bitcoin (CRYPTO: BTC), the apex crypto also rose, advancing 2.97% to $63,695.82, according to Benzinga Pro data.

Read Next: Trump-Themed MAGA Memecoin Plans To Rival Dogecoin And Shiba Inu With ‘Four More Years Of Catalysts’

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.