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Cryptocurrencies experienced an unbelievable surge last week. Bitcoin‘s price soared from the $50,000 level to $64,000 after an incredible rise, but subsequent volatile price movements worried investors. Despite initially falling back to $59,000, the price recovered and climbed back to the $62,000 level. Altcoins, taking advantage of Bitcoin‘s pause, also saw incredible rises. So, which altcoins gained the most in the last 24 hours?
Bitcoin Cash Tops the Altcoin List with a Surprise
In the last two days, while everyone was talking about meme coins, Bitcoin Cash (BCH) surprisingly topped the list. BCH’s price saw an increase of over 50% in the last 24 hours, reaching a price level of $469. This also contributed to a 76% rise over the past week.
BCH’s price movement seems to have caught the attention of the entire cryptocurrency world. There were noticeable increases in market capitalization, market ranking, and 24-hour trading volume. BCH’s market capitalization surpassed $8.9 billion, placing it 17th in terms of market size. Additionally, its 24-hour trading volume saw an increase of over 460%, exceeding $2.5 billion.
The Rise of Meme Coins
Alongside the surge in BCH, market participants have been focused on meme coins for the last two days. PEPE’s rise sparked the trend in the market. Following this, SHIB and FLOKI, which have been in the news for token burns, took the top spots on the list.
SHIB saw a 47% price increase in the last 24 hours, reaching $0.00002195, and secured the second spot on the list. Its 7-day gain rate climbed over 128%. SHIB investors finally saw the rise they had been waiting for. SHIB’s market capitalization increased by 44%, reaching a value of $12.8 billion and placing it 11th in market size rankings. SHIB’s trading volume in the last 24 hours also increased by 321%, surpassing $6.6 billion.
As for FLOKI, an investment announcement from DWF followed by news of token burns led to an incredible price surge. FLOKI’s price increased by 36% in the last 24 hours to $0.0001284. FLOKI’s 7-day rise rate was over 260%.
Like its counterparts, FLOKI’s market and trading volumes saw noticeable increases during this period. The market capitalization of the meme coin increased by 37%, surpassing $1 billion, while its 24-hour trading volume saw a 191% increase, exceeding its market capitalization and reaching $1.4 billion.
