Meme Coin Market Bucks Crypto Downtrend With 3.2% Rise, Led by DOGE and BONK Gains

Recent data indicates that despite a general decline in the crypto economy, the meme coin sector has experienced a 3.2% increase in the last 24 hours. Notably, dogecoin and bonk have observed respective surges of 1.2% and 9%. Additionally, Sunday saw several meme tokens achieving gains in the double digits.

Timeline of Bonk1, Dogecoin

Bonk Price Prediction: Amidst the market excitement over the anticipated approval of Spot Bitcoin ETFs, the Solana-based memecoin Bonk has demonstrated a remarkable recovery from its support level of $0.00000936 earlier this week. This bullish reversal scored 92% growth as the price hit a high of $0.00001795.

Dogecoin (DOGE) is set to gain another use case thanks to the world's richest man, Elon Musk. This comes following a revelation that the foremost meme coin will be a payment when one of Musk's groundbreaking projects finally launches.

With the competition in the meme coin world heating up, Solana's flagship meme coin BONK has made a strategic move to bolster its adoption within the community. As announced on its official X account, BONK introduced the "PooperScooper" functionality in its wallet to help its users organize their assets more efficiently.

Compared to other meme coins and large caps in the crypto space, the Dogecoin performance has been quite lackluster, to say the least. Even as Bitcoin sets an out toward its previous highs, Dogecoin price has been muted.

The euphoria surrounding the approval of spot Bitcoin ETFs has evaporated significantly, leaving the crypto market in a subdued state. One could almost say the news marked the peak, at least for now.

The digital currency ecosystem is seeing a mild gain retraction as Bitcoin (BTC) failed to match up to expectations following the debut of spot Bitcoin Exchange Traded Fund (ETF) products. Dogecoin (DOGE) bears are riding this negative price trend, with a 1.80% drop in the past 24 hours to $0.08479.

Widely followed crypto trader Altcoin Sherpa is bullish on one altcoin operating in the Bitcoin (BTC) ecosystem. The pseudonymous analyst tells his 205,000 followers on the social media platform X that Stacks (STX) has more upside potential. “STX: entry at $1.75 or around there would be excellent. Eyes on this one.

Dogecoin is on another rally once more as social media platform X (formerly Twitter) made an announcement that many believe will ultimately have a significant impact on the DOGE price. According to the announcement, X is finally moving forward with its long-await payments plans which are expected to go live in 2024.

Dogwifhat (CRYPTO: WIF) rocketed 124.5% higher on news of ByBit, a cryptocurrency exchange, listing the token. What Happened: ByBit announced that it would list the WIFUSDT Perpetual Contract with up to 25x leverage for trading.

The Dogecoin (CRYPTO: DOGE) market was thrown into a frenzy by a rumor regarding the death of its mascot, causing a significant price fluctuation. What Happened: As reported by CoinDesk on Tuesday, a social media post suggested that Kabuso, the Shiba Inu dog that acts as the token's mascot, had passed away.