As Bitcoin surges back above $56,000, meme coins POPCAT and DOGS have become top gainers in the crypto market. Both tokens, listed among the 100 largest cryptocurrencies by market cap, have seen significant increases, with Popcat surging 15.8% and Dogs up by 9.02%.
At the time of writing, Popcat is trading at $0.62 and Dogs at $0.0011. The upside momentum has also pushed Bitcoin back to $56,500 after briefly dipping to $53,300 on September 7.
Futures Listing Boosts Meme Coins
Both Popcat and Dogs have benefitted from positive market sentiment driven by new futures trading support on major exchanges like Binance and OKX. Binance’s addition of POPCAT perpetual contracts has led to a significant price surge, while OKX has introduced a trading contest with rewards up to $100.
DOGS, a meme coin related to Telegram, has rebounded from losses following the arrest of Telegram CEO Pavel Durov. After dropping to $0.0009 on September 8, DOGS has since recovered some ground, buoyed by Binance’s 40 million DOGS contest.
Bitcoin Bounces Back Above $56,500
Bitcoin’s recovery to $56,500 has been supported by increased whale and institutional accumulation, as indicated by a rise in the Coinbase Premium Index. Analysts predict that continued accumulation by long-term holders could lead to a stronger end to the fourth quarter.
Some analysts have even speculated that Bitcoin could surge to $80,000-$90,000 in the event of a Trump win in the U.S. presidential election, while a Harris victory might push prices lower, potentially to $30,000.
Conclusion
The resurgence of meme coins like POPCAT and DOGS, along with Bitcoin’s recovery, highlights the ongoing volatility and potential in the cryptocurrency market. With futures trading adding further momentum, traders are watching for potential gains as the year progresses.
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