Bitcoin has Just Hit A New ATH, a record high of $69,000 on 5th March 2024. Although this surge was followed by a double-digit correction when the $BTC plunged 10% to $61,442, the coin has regained the dip over the past 24 hours, and as of writing, BTC was trading at $66,000. This impressive recovery has also seen other cryptocurrencies spike during the same period.
It is important to note that Bitcoin correction spread across the entire market, with all the top cryptocurrencies posting a plunge. Crypto experts are still positive that the bulls will push the $BTC past $70k in the next few days – this is if the market conditions remain the same.
In fact, some crypto analysts believe that the bull run has just started. In fact, the recent correction and the rally experienced thereafter are indications of a possible strong bullish wave. Therefore, Bitcoin can easily go past $90,000 in the next few weeks. However, it is the impact this bullish explosion has had on meme coins that’s exciting crypto enthusiasts.
Shiba Inu, Dogecoin, and BEFE are just some of the meme coins that have posted impressive performances in the past few months. Let’s look at the performance of these meme coins.
Shiba Inu ($SHIB) Has exploded 200% In 7 days.
Since the bullish sentiment started building early last year, Shiba Inu was among the coins that responded positively to this change. However, the past 7 days have seen the coin explode by 200%, one of the biggest spikes in recent history.
Although the Bitcoin bullish sentiment may have contributed to this growth, the recent launch of the burning mechanism and the L2 blockchain solution Shibarium are factors in this surge. Shibarium, a scaling solution for the Shiba Inu ecosystem, and among the most widely anticipated developments for the Shiba Inu project.
The Layer 2 solution has already increased the scaling of this ecosystem, reaching the 3.5 million mark. In addition, the cost of transacting on the Shiba Inu ecosystem is now at an all-time low. The success of the burning mechanism is also boosting investors’ confidence in $SHIB.
These are the major factors fueling Shiba Inu’s bullish performance in 2024.
Dogecoin ($DOGE) Is 60% Up In 7 Day
Dogecoin has also done well in the past 7 days, with a 62% upsurge at the time of this writing. Although $DOGE had gone down by 13% in the past 24 hours as of this writing, the coin is expected to do well in the next few days. This is looking at the bullish sentiment building up in the market.
With Bitcoin already poising for a massive rally going forward, Dogecoin is also expected to ride the wave and post substantial growth during the same period. Note that other meme coins have also been doing well, and $DOGE is among the stable meme coins today.
BEFE ($BEFE)
BEFE is among the new meme coins in the market that have done very well during this bull run. Launched in November 2023, $BEFE has increased by 600% so far. It is now among the most profitable meme coins in the past 4 months. In the past 7 days, BEFE tops among the coins that have made its investors richer, with the coin still in the green.
The current $BEFE holders have already made massive profits, with some already made dollar millionaires. BEFE stands out among the most promising meme coins in 2024 mainly because of the unique nature of this coin.
Just like the BEFE team has been saying, $BEFE has brought the glory back in the meme coin industry. What can we expect from BEFE? Well, looking at the updates the $BEFE team has been sharing, there are massive developments coming. Therefore, we can expect this coin to do well even with this bullish sentiment.
In conclusion, meme coins still remain a good investment in the crypto market. BEFE, Shiba Inu, Dogecoin, PEPE, etc., tops among meme coins projected to do well during this bullish sentiment.
