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Weekly Crypto Market Update
Bitcoin has experienced a significant increase in value this week, rising by over 10% in the last seven days. Despite this positive trend, the current price of the cryptocurrency is $69,966, still below its recent all-time high of nearly $74,000.
Focus on Meme Coins
While Bitcoin has been making headlines, the spotlight in the crypto market has shifted towards meme coins and tokens. Among the top cryptocurrencies by market capitalization, Dogecoin has emerged as one of the biggest winners of the week. This ninth largest digital asset has seen a remarkable 45% increase in value within the past seven days, currently priced at $0.208.
Another notable performer this week is Bitcoin Cash, ranked 15th by market cap. The value of Bitcoin Cash has surged by over 30% in the past week and by more than 50% in the last 30 days.
One of the standout performers in the meme coin landscape is Dogwifhat, a Solana-based token. This cryptocurrency has experienced an impressive increase of nearly 100% over the week, with a current price of $4.52.
When major cryptocurrencies like Bitcoin, Ethereum, and Solana experience price surges, meme coins often capitalize on the market momentum. Shiba Inu, a Dogecoin-competitor, has also seen a significant rise in value this week, with a 10% increase in the past seven days.
Other meme tokens attracting attention include Solana-based Bonk and Pepe, which have seen price upticks of 23% and 6%, respectively.
Performance of Major Coins
While meme coins have dominated the headlines, major cryptocurrencies like Ethereum and Solana have also seen moderate price increases this week. Ethereum’s value has risen by slightly over 4%, reaching $3,494, while Solana has experienced a 12% increase, with its price hitting $196.23.
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