Several meme coins experienced substantial surges in the last 24 hours.
In what feels like a recurring pattern, Bitcoin's bull run persists, reaching a new 26-month peak at $64,000 before encountering a volatile ride.
Meme Coin Bullish
Several altcoins joined the upward trend, with SOL surging by 18%, contributing to the total crypto market cap reaching nearly $2.5 trillion for the first time in over two years.
Bitcoin's rally continued as it broke through the $51,000 mark over the weekend, experiencing a significant spike on Monday, propelling it to $60,000. Despite facing resistance, Bitcoin managed to reclaim the $64,000 milestone, marking its highest point since late 2021. After a brief dip to $59,000, it quickly recovered, standing at over $62,000 with a market capitalization of $1.240 trillion.
BITCOIN DOMINANCE
Bitcoin's dominance over altcoins has risen by nearly 3% in less than a week.
Other alternative coins also followed Bitcoin's upward trajectory, with Solana, Avalanche, and Toncoin emerging as top gainers among larger-cap alts. SOL reclaimed the $130 level with an 18% surge, AVAX rose above $43 with a 10% increase, and TON reached $2.6 after a 21% gain.
However, the spotlight today belongs to meme coins, with the two largest, DOGE and SHIB, skyrocketing by around 28-30%. DOGE surpassed $0.12, while SHIB rose to $0.000014.
CONCLUSION
The overall crypto market cap increased by another 8% overnight, reaching close to $2.5 trillion for the first time in over two years.
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