Despite the broader market downturn, memecoins like PEPE and Floki are thriving, while significant cryptos like Bitcoin face losses. This indicates a cautious yet potentially bullish trend for select coins.
Key Insights
Market Performance: While the broader market has slumped, memecoins like PEPE and Floki are performing well, with the overall market cap increasing by 6.5%.
Bitcoin Losses: Bitcoin and other major cryptocurrencies faced heavy losses on Monday, with Bitcoin hovering around $60,000.
Top Performers: DogWifHat has an 18.9% daily gain, BONK has a 17% daily gain, and PEPE has a 13% daily gain, making these three the top performers.
Bullish Continuation: Charts for DogWifHat, BONK, and PEPE indicate possible bullish continuations.
Risk Management: Investors should note that the upswing might be temporary, and proper risk management should be employed.