In recent days, the cryptocurrency market has experienced a significant surge, adding a whopping $200 billion to its overall valuation. The two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have seen notable price increases, with BTC surpassing the $63,000 mark and ETH reclaiming the $3,300 level. Additionally, meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have also recorded substantial gains, increasing by 4% and 3% respectively.
While the leading meme coins have seen price increases, it is the cat-themed tokens that have caught the attention of investors. One such token, Mog Coin (MOG), has surged by 15% in the last 24 hours and 60% over the past week, reaching an all-time high of almost $0.0000022. With a market capitalization of around $770 million, MOG has become the 99th-biggest cryptocurrency in the market. Another cat-themed meme token, Popcat (POPCAT), has also seen a significant rally, with its valuation increasing by almost 25% to reach around $0.73.
Following the recent assassination attempt on Donald Trump, meme coins related to the former US presidential candidate have experienced heightened volatility. Despite the attempted attack, Trump-themed coins such as MAGA (TRUMP), Donald Trump (TRUMP2024), and DONALD TRUMP (DONALD) saw double-digit price increases. This surge in prices benefited early investors who had the foresight to invest in these coins several months ago.
One investor, who deposited 1.08 million TRUMP tokens on the crypto exchange BTSE, stood to make a profit of nearly $8 million if they had sold their stash. Another trader currently holds 936,279 TRUMP tokens, which are equivalent to $7.6 million. While meme coins have the potential to make investors millionaires in a short period of time, they also come with significant risks due to their notorious volatility. Investors must exercise caution when trading these assets to avoid substantial losses.
Overall, the recent market movements highlight the growing popularity of cat-themed tokens and the volatility of meme coins tied to current events such as the assassination attempt on Donald Trump. Investors should carefully consider the risks and rewards associated with these assets before entering the market to ensure a safe and successful trading experience.
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