Top 4 Meme Coins to Watch with Buy Signals
Meme coin market buzzing with excitement On-chain data points to a buy signal for four prominent cryptocurrencies in this segment. According to the latest derivatives data from CoinGlass, dogecoin (DOGE), pepe Coin (PEPE), bonk and dogwifhat (WIF) were among the top ten cryptocurrencies by open interest.
This surge in interest in particular underscores a growing trend among investors toward low-cost cryptocurrencies amid growing excitement.
Four Meme Coins with Buy Signal
CoinGlass recently shared a derivative chart on the X platform highlighting the market dominance of meme coins. The chart shows that Dogecoin, PEPE, Bonk, and WIF currently hold four of the top ten spots by open interest, signaling a significant shift in investor sentiment towards these unconventional assets.
Meanwhile, the meme coin sector, known for its speculative nature, has achieved significant gains in recent months, further increasing the excitement of investors. In addition, the buzz got louder The rise in GameStop Corporation (GME) shares draws parallels between meme coins and meme stocks.
Source: CoinGlass, X
Specifically, the frog-themed coin Pepe Coin (PEPE)) It has reached new highs, reflecting growing investor interest in this cryptocurrency. On the other hand, solana meme coins have also seen a rise in popularity. swell in prices.
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Price Amid Risks and Opportunities
While the meme coin market offers lucrative opportunities, it also carries inherent risks. Investors should be careful and do their due diligence before entering this volatile sector. Despite recent gains and positive developments, the meme coin market remains susceptible to extreme price fluctuations and speculative behavior.
As a sector continues to evolveStaying informed and alert is crucial for investors navigating the unpredictable world of meme money. Meanwhile, despite the increase in Open Position, Dogecoin price decreased by 3.07% to $0.1646 at the time of writing, while Pepe Coin price decreased by 4.8% to $0.00001599.
On the other hand, BONK’s price increased by approximately 12% to $0.00004216, while its transaction volume increased by 65% to $1.12 billion. Simultaneously, the WIF price increased by 14% to $3.72.
According to CoinGlass data, DOGE Open Interest (OI) decreased by 4.5% to $1.01 billion, while 1000PEPE Coin Open Interest decreased by 5.4% to $773.59 million. On the other hand, 1000BONK OI increased by 16.66% to $527.18 million, while WIF OI increased by 21.26% to $511.64 million.
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A seasoned professional with 3 years of experience in the financial market, Rupam has honed his skills as a meticulous research analyst and insightful journalist. She enjoys exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond traditional boundaries. His contributions include breaking news, examining AI-related developments, providing real-time crypto market updates, and providing insightful economic news. Rupam’s journey is marked by his passion to demystify the intricacies of finance and deliver impactful stories that will resonate with diverse audiences.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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