Bitcoin Today: 09/25/2024: POPCAT memecoin hits record $1 billion

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Bitcoin Today: 09/25/2024: POPCAT memecoin hits record $1 billion
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Wednesday morning (25) started off busy, as the price of Bitcoin (BTC) reached US$64,200 after a strong rise. However, part of this appreciation reversed and made BTC return to the US$63,600 levels. According to CoinGecko, the cryptocurrency registered a slight increase of 0.1% until the closing of this article.

Among the Top 10 cryptocurrencies, Solana (SOL) once again recorded the biggest gain of the day, with gains of 2.7%, followed by TON’s 2.2% rise. On the downside, Ethereum (ETH) fell by 0.8%, as did XRP (0.2%) and BNB (1.4%) – the latter having the biggest drop in the Top 10.

According to Fernando Pereira, an analyst at Bitget, the current focus is on Bitcoin’s dominance, which is creating a very interesting reversal pattern on the weekly chart. According to the analyst, the new pattern should start a small “altseason” in the coming days.

“This pattern suggests that in the coming weeks we may see altcoins appreciating more than BTC. It may be more interesting at this time in the market to invest in coins such as DOT, LINK and ADA instead of Bitcoin,” explained Pereira.

Bitcoin reverses bullish trend as POPCAT breaks $1 billion mark

Indeed, altcoins are dominating the Top 100 scene, with SEI recording a 25% increase on Wednesday alone, leading the day’s gains. But another standout was memecoin POPCAT, which saw its market value hit a new record.

While Bitcoin has reversed its rally, the price of POPCAT, a memecoin created on the Solana network, has recently seen a significant increase in both its price and market cap. In the past 24 hours, the memecoin has reached a standalone price of $1.07, breaking a new all-time high.

In terms of market value, the memecoin has broken through the $1 billion symbolic barrier, which shows that this altcoin is now poised for further gains, signaling greater investor interest and market dynamics.

This movement has been seen in other Solana memecoins, such as WIF, which saw a notable 5% increase. BONK also surged strongly and saw gains of 4%.

Additionally, the memecoin Cat in a Dog’s World (MEW) rose 7%, reinforcing the systemic interest in memecoins in this ecosystem.

Bitcoin eventually broke above $64,700, signaling a strong recovery in the cryptocurrency market. However, it failed to hold on to $65,200, a level seen by traders as crucial for maintaining the uptrend.

Bitcoin Today: 09/25/2024: POPCAT memecoin hits record $1 billion

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Bitcoin Today: 09/25/2024: POPCAT memecoin hits record $1 billion

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Bitcoin Today: 09/25/2024: POPCAT memecoin hits record $1 billion

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