The crypto market experienced a strong recovery following the CPI report showing US inflation reaching 3.4%. With this news, Bitcoin gained 7% in value and reached the level of 66k dollars. Some altcoins, such as Fantom (FTM), gained almost 30% in value. đ
AI coins were also positively affected by this news. Near Protocol (NEAR), one of the leaders in the AI ââcrypto industry, gained 17% in value today. Some meme coins with lower capitalization also performed well. Galaxy Fox (GFOX) price increased by 33%.
Fantom (FTM) price is trading at $0.81, gaining 26% today. Coinpedia's analysis points to a strong bullish reversal for FTM. The big rise in Bitcoin triggered a broad altcoin sector recovery that Fantom also benefited from.
Near Protocol (NEAR) price is trading at $8, gaining 17% today. Coinpedia's analysis shows a significant 14.70% overnight increase, reflecting a strong market entry and bullish bias.
Galaxy Fox meme coin was launched on Uniswap and Dextools in April, but the price has experienced some rises and falls since then. In the last 24 hours, this low-capitalization meme coin responded well to positive market conditions and gained more than 30% in value.
As a result, Fantom (FTM) is showing strong bullish momentum and has the potential to surpass $1 and target the 1.618 Fibonacci level at $1.85. Near Protocol (NEAR), one of the leaders in the AI ââcrypto industry, is also seeing a significant uptrend. On the other hand, low-capitalization memecoin Galaxy Fox (GFOX) saw a significant 33% pump, driven by the launch of the web3 runner game and the integration of a memecoin with a blockchain-based gaming experience.
