TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

BRETT, FLOKI, WIF lead meme coin recovery

  • BRETT jumped by more than 30% briefly after Binance Futures listing.
  • FLOKI posted over 10% gains after an announcement that holders will receive CAT meme token airdrop.
  • WIF and other top meme coins trade in the green as the meme market looks set to stage a recovery.
BRETT, FLOKI, WIF lead meme coin recovery
Michael EbiekutanMichael EbiekutanFXStreet

BRETT led the entire meme coin market on its path to recovery on Tuesday after the Binance exchange listed a perpetual futures contract for the Base Layer 2 meme token.

Meme coin market en route to recovery following recent gains

According to CoinGecko’s data, the meme coin market capitalization increased by over 4% in the past 24 hours after positive developments surrounding several top meme tokens sparked a green day for the sector:

BRETT rallied by 36% in the early hours of Tuesday after Binance announced it would launch a USD-Margined perpetual futures contract for the meme coin. Following the announcement, the social volume of BRETT spiked to its highest level since January. BRETT has seen a correction since the pump, settling around $0.088 with a 16% gain.

Crypto trader @MaxBecauseBTC believes BRETT can potentially hit >$10 billion in market cap if Ethereum sees a massive rally in the current cycle. This is likely due to BRETT's run to an all-time high of $0.193 in eary June after ETH rallied following news of the Securities & Exchange Commission's (SEC) U-turn to approve spot Ethereum ETFs.

FLOKI is the second-best performer among top meme coins, posting a spike to $0.0001318 after announcing that its holders will receive 20% of the supply of Simon's Cat (CAT) meme tokens. FLOKI is currently trading around $0.0001263, up nearly 10% on the day.

Top Meme coins

Top Meme coins

Solana meme coin dogwifhat (WIF) is also benefiting from the positive sentiment surrounding the meme market as its price is up over 9% on Tuesday. WIF's rise occurred despite a slight decline in Solana. This indicates that the meme coin may be crafting its own path, reducing its over-reliance on SOL's price movement.

Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE also recorded gains above 3% each in the past 24 hours.

Related news

Author

Michael Ebiekutan

With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to

More from Michael Ebiekutan
Share:

Editor's Picks

Has Bitcoin really escaped the macro forces it was built to fight?

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

Ethereum activates Glamsterdam on Sepolia testnet: Why the price is falling anyway

Ethereum activates Glamsterdam on Sepolia testnet: Why the price is falling anyway

Ethereum (ETH) has reached a key milestone in its next major network upgrade. The planned changes aim to improve Ethereum’s Layer 1 capacity and efficiency as network activity grows. The development comes as ETH retreats toward $2,500.

Bitcoin Weekly Forecast: Uptober or Rektober?

Bitcoin Weekly Forecast: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.

Ripple bulls gather recovery momentum amid returning ETF inflows

Ripple bulls gather recovery momentum amid returning ETF inflows

Ripple (XRP) trades largely in bearish hands on Friday near $1.40. Although the remittance token has stabilized after a sharp sell-off from weekly highs of $1.53 to lows around $1.32, the path of least resistance remains downward, unless buyers affirm a daily close above the pivotal $1.40 level.

Bitcoin: Uptober or Rektober?

Bitcoin: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.