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Web 3 Journalist
Tim Hakki
Web 3 Journalist
Tim Hakki
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Popular meme coin Popcat ($POPCAT) has just hit a $1 billion market cap in the midst of a rally that has added 59% its price over the last two weeks.
According to the data, Popcat is currently trading at $1.04, which spells all round gains for recent buyers after the token rose about 3% in the last 24 hours and about 17% over the last week.
Altogether, Popcat has risen to become the seventh biggest meme coin by market cap after formerly holding tenth place.
What’s Behind Popcat’s Explosive Surge? A Meme Coin Rally!
However, while Popcat may be surging right now, it’s not the best performing among the ten biggest meme coins. Two cryptocurrencies grew more than 30% over the last seven days.
Solana’s DogWifHat ($WIF) rose 30% to $2.22, while Mog Coin ($MOG) rose 38.5% to $0.051498.
In general, meme coins surged last night.
According to data by CoinCodex, the sector rose 7.2% in the last 24 hours and now has a market cap of $50.8 billion.
By contrast, the wider $2.37 trillion crypto market remains virtually unchanged from yesterday, although the $1.27 trillion cap sector leader Bitcoin ($BTC) rose 1.2% overnight and 3.1% over the week to trade at $64,375.
According to Popcat’s price chart, the token is now trading at a three-month high as it keeps its head above $1.
A rising relative strength index (RSI) of 62 together with the fact that Popcat is trading about five cents above its 30-day moving average are telltale signs that the rally has almost run its course, but Popcat will likely remain at its current level going into next week.
What To Do With Meme Coins? Now You Can Bet Them!
Popcat’s successful week is a reminder of the kind of market fervor that propels meme coins quickly up the tables.
However, beyond explosive price rises, even the most ardent meme coin fans have trouble articulating the economic utility of their favorite funny tokens.
However, one ascendant new project called Memebet hopes to change that by turning meme coins into casino chips.
It has quietly raised well over a quarter of a million dollars in under a fortnight thanks to its first-of-its-kind premise: it’s the web’s first online casino where players use meme coins.
The presale launched last week and the $MEMEBET token received over $200,000 in investments in just two days.
With online gambling primed to explode from a $100 billion industry in 2024 to $130 billion within the next five years alongside the growing adoption of crypto, $MEMEBET is positioned to take advantage of both emerging technologies, unlike Sui Network.
$MEMEBET tokens unlock a range of benefits for players, including airdrop rewards, special VIP degen bonuses, and access to the upcoming Memebet Casino Lootboxes, featuring real-world prizes and casino bonuses.
The project also launched a 400 million $MEMEBET airdrop.
To join, simply buy some tokens, wait for the launch of the casino (before the end of the presale), and begin gaming and betting to secure rewards.
Stay updated on the latest Memebet news and developments on X and Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
