Bitcoin Price Solidifies at $61K as These Meme Coins Trend (Weekend Watch)

5 months ago 4

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It’s been a relatively calm 24 hours in the cryptocurrency market, with the majority of coins failing to gain any notable grounds. The opposite is also true – most of the altcoins trade in a state of equilibrium.

While this might oftentimes turn out to be a precursor to a considerable move in either direction, let’s have a closer look at how prices developed in the last day.

Bitcoin Price Solidifes at $61K

The BTC price was consolidating around $60K yesterday, but the bulls managed to gain some footing and pushed it above $61K to where it currently trades at around $61,400.

With this, Bitcoin manages to chart an increase of around 0.8% on the day. The volume remains low, but this is within the expected norms for the weekend.

Bitcoin’s dominance – the metric that gauges its share relative to that of the rest of the market – is currently at 50.8%, while ETH accounts for around 17% of the total market.

Altcoins Calm, Some Meme Coins Trend

The majority of large-cap altcoins have traded mostly flat for the past 24 hours. TON is charting gains of around 2%, fueled by a considerable increase in the total value locked in the protocol.

Elsewhere, and perhaps where it’s getting a bit more interesting, cat-themed meme coins surged today. The entire category increased by more than 6%, according to data from CoinGecko.

What is more, these specific meme coins have increased by a whopping 43% over the past week. Some notable mentions include Mog Coin (MOG) and Popcat (POPCAT).

All in all, the market remains in a neutral state, with the sentiment improving considerably since yesterday, according to the popular Crypto Fear and Greed Index.