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Cryptocurrency market continues to see notable developments. Despite concerns over Bitcoin, the memecoin sector is witnessing significant rises. In this context, popular memecoin projects Joe Boden and Popcat in the Solana ecosystem have made a remarkable impact in the last 24 hours.
Solana Ecosystem and Memecoin Area
Bitcoin gained momentum yesterday evening when the Fed decided to keep interest rates steady. However, during this period, memecoin projects stood out and dominated the day. Memecoin projects in the Solana ecosystem, Jeo Boden surged by 58.7%, while Popcat rose by 46.5%, becoming the day’s top earners among the first 300 crypto projects.
The political satire-themed memecoin project BODEN, inspired by US President Joe Biden, achieved a 63.69% increase, marking the day’s lowest and highest levels. The token, which made a significant impact upon its release, gained substantial momentum after a long consolidation period and recently broke above the resistance level of $0.009627.
However, the initial step of the recent surge encountered resistance at the $0.01602 level, which had acted as resistance before, and BODEN’s price could not surpass this level. A daily close above this level could mark the beginning of a notable phase for BODEN and could significantly impact the memecoin sector.
Popcat Chart Analysis
Popcat, introduced as a competitor to dog-themed memecoin projects, has been pleasing its investors recently. A breakout above the resistance level of $0.5020 in recent days also led to a new ATH for POPCAT.
With a total market value of $595.4 million, POPCAT continued to trade at $0.6161 at the time of writing. In the last 24 hours, POPCAT saw a total trading volume of $23.2 million, with 3,436 investors making transactions according to Dex Screener data.
