Markets
Bitcoin Price Consolidates at $61K as These Meme Coins Trend (Weekend Watch)
It’s been a relatively quiet 24 hours in the cryptocurrency market, with most coins failing to gain any notable traction. The opposite is also true: most altcoins are trading in a state of equilibrium.
While this could often prove to be the harbinger of a sizable move in one direction or the other, let’s take a closer look at how prices have developed over the past day.
Bitcoin price stabilizes at $61K
Yesterday, BTC price was consolidating around $60,000, but the bulls managed to gain traction and push it above $61,000, where it is currently trading at around $61,400.
With this, Bitcoin manages to trace an increase of about 0.8% on the day. Volume remains low, but this is within the norm for the weekend.
Bitcoin’s dominance, or the parameter that measures its share compared to the rest of the market, is currently at 50.8%, while ETH represents approximately 17% of the total market.
Altcoins calm, some meme coins are trending
Most large-cap altcoins have traded mostly unchanged over the past 24 hours. TON is seeing gains of around 2%, fueled by a sizable increase in the total value locked in the protocol.
Elsewhere, and perhaps where it’s getting a little more interesting, cat-themed meme coins have been on the rise today. According to data from CoinGecko, the entire category increased by more than 6%.
Furthermore, these specific meme coins are up a whopping 43% in the last week. Some notable mentions include Mog Coin (MOG) and Popcat (POPCAT).
Overall, according to the famous Crypto Fear and Greed Index, the market remains in a neutral situation, with sentiment significantly improving compared to yesterday.
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