Top market capitalization-sized meme coins are rallying after Bitcoin price recovered above $67,000 on Thursday.
and BONK are rallying with Shiba Inu meriting biggest gainer so far. Meme coin madness could return if BTC overtakes $69,000 as market capitalization rises 5%. Meme coins have a tendency to take cues from the Bitcoin price, unlike cat-themed tokens. It comes amid strong correlation between BTC and meme coins, with investors using this relationship as some sort of cheat sheet to anticipate a rally inShiba Inu and Dogecoin prices especially.
-day chart, SHIB/USDT –day chart, WIF/USDT 1-day chart, PEPE/USDT 1-day chart, BONK/USDT 1-day chart Notably, WIF was able to dethrone PEPE from the meme coin top three on market capitalization metrics. The total market capitalization of meme coins is upwards of $60.83 billion, signifying up to 5% in gains. The rally seen in meme coins follows Bitcoin price flipping the $67,000 threshold into support.
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