Meme Coin Summer May Beginning: PEPE and WIF Outperform Bitcoin and Ethereum!

The rise in the cryptocurrency market was once again accompanied by meme coins.

Meme coins generally perform better during periods when the prices of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are stable.

These low-liquidity coins tend to experience more volatility compared to larger cryptocurrencies.

Bitcoin (BTC) retreated to $63,000 after rising to $65,000, and meme coins performed strongly in this process.

According to CoinGecko data, the meme coin industry rose more than 12% on Tuesday. In particular, Pepe (PEPE) and dogwifhat (WIF) rose 22% and 25% respectively.

Meme coins themed around US politics were launched after Donald Trump was shot at his rally in Pennsylvania, with America Coin (USA) gaining 204% and Super Trump (STRUMP) gaining 43%.

While BTC's market depth on Binance ranges from $14.8 million to $11.2 million, WIF's market depth is only between $1.4 million and $1 million. This means that meme coins like WIF may be more affected by liquidation and market orders than larger coins like BTC and ETH.

Stay tuned for new information