Week Ahead: Meme coins surge as BTC rally continues

Akash Girimath FXStreet

The last few weeks have been nothing short of shocking, with meme coins taking over the 2024 bull run. Here are the year-to-date returns of some popular meme coins.

Dogwifhat (WIF): 6,843%
Pepe (PEPE): 348%
Turbo (TURBO): 190%
Bonk (BONK): 134%
Shiba Inu (SHIB): 110%
Dogecoin (DOGE): 73%
Wen (WEN): 72%

Dogwifhat (WIF) has soared 6,843% in the last 63 days. It is unlikely to stop here without a major crash in Bitcoin price. Additionally, speculation in the community is that spot trading on WIF could be listed on tier-1 exchanges.

Read more about WIF’s potential listing on Coinbase here

Meme coins might seem like they’ve rallied a lot, but they’re nowhere close to forming a top yet. As an example, between March 2020 and May 2021, Dogecoin price rallied 65,122% in just 420 days.

Bitcoin price sits comfortably above key levels

Bitcoin price ended the previous week after a 22% increase. This development marks a 310% rally from the bottom of $15,479. Furthermore, the recent move seems to be a step in cementing BTC’s position above $60,000. With nearly 10% away from the all-time high of $69,138, investors are waiting with bated breath for BTC to overcome the current ATH and set up a new one.

BTC/USDT 1-week chart

With Federal Chairman Jerome Powell’s testimony on Wednesday and Thursday, volatility in Bitcoin price could pick up.

Bitcoin NFTs make comeback in weekly sales, flipping Ethereum

Ethereum Dencun upgrade is all the hype

With the most-awaited Dencun upgrade set to go live on March 13, Ethereum price shot up 57% in the last four weeks and currenlty trades at $3,464. ETH could see further gains in the near future, especially with the DeFi hype gathering steam due to Uniswap’s fee switch proposal that went live on Friday.

ETH/USDT 1-week chart

UNI price drops over 10% as Uniswap DEX switches on their fee distribution incentive

Author

Akash Girimath

FXStreet

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

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