Meme Coins Distinguish from the Rest of the Market with Asian Influence!

While Bitcoin and Ethereum continue to consolidate, meme coins continue their rise with Asian influence.

Contrary to the general stagnation in the cryptocurrency market, meme coins continue to diverge from the market. Examining the reason behind this separation, Rennick Palley, co-founder of the Crypto fund Stratos, included the share of Asian influence.

Emphasizing that popular meme coins such as Shiba Inu (SHIB) and Floki (FLOKI) have gained new momentum as Asian investors flocked to this area again, the experienced name pointed out that the prices move the most during Asian trading hours.

However, he reminded that the excitement of the Ethereum ETF and the policies of the USA supporting cryptocurrencies also contributed to the rise:

Popular meme coins are issued mainly due to Asian investors re-entering the market. Most see their prices rise the most during Asian trading hours, around midnight U.S. time. This is a continuation of the excitement around the Ethereum ETF and the US regulatory shift to become more pro-crypto.