Bitcoin price hits $61,000 as cat-themed clay and memecoins gain value

June 30, 2024

Bitcoin price hits ,000 as cat-themed clay and memecoins gain value

Bitcoin traded at $61,000 over the weekend as the primary asset responded to bull activity in the market, rising from a price of $60,000 to just under $61,400.

Bitcoin’s price action marked a very quiet crypto market over the weekend, with most altcoins failing to make any significant gains. Apart from Bitcoin and some cat-themed meme coins, the general crypto market remained in equilibrium.

Bitcoin price holds at 61,000

Bitcoin price rose slightly from a previous level of $60,000 to about $61,400 at the time of writing. According to Coingecko, this represents a 0.7% price increase in the last 24 hours. The change volume remains low, but this is an expected volume for weekends.

Despite its slow growth, Bitcoin remains the dominant cryptocurrency with a market dominance of 50.8% over the rest of the market. Bitcoin is followed by Ethereum, which only accounts for 17% of the total market.

Altcoins remain unchanged

Large-cap altcoins have been trading flat over the past 24 hours. Ethereum and XRP have recorded losses of 0.41% and 0.35%, respectively, over the past 24 hours, while Binance Coin has gained 0.75%. These price movements remain minimal and have no resounding impact on the overall market.

Meme coins with clay and cat motifs shine

Despite the quiet weekend in the crypto market, some crypto assets managed to stand out with their performance, posting solid gains and leaving traders in awe.

Ton, the native token of Telegram’s Open Network, saw a price increase of over 2%, driven by a significant increase in the total value locked in the protocol.

Besides Ton, cat-themed meme coins like Wif are another strong performer of the weekend. According to data from Coin Gecko, the entire category saw growth of over 6% in the last 24 hours.

These particular memecoin tokens have outperformed their competitors, recording a whopping 43% growth in the past week. Examples of strong performers in this category include Mog Coin (MOG) and Pop Cat (POPCAT).

The crypto market remained generally neutral over the weekend, with sentiment improving slightly according to relevant indicators.

What you should know

Ton is touted as a solid crypto asset among experts, given the robust ecosystem that the Telegram team has built around its crypto project. From Telegram-based clicker games like Notcoin, Tapswap, and Hamster Kombat to the integration of a wallet into Telegram, the power of social media has helped attract millions of new users to crypto. Ton is the native crypto asset at the center of this ecosystem and is expected to become a very big name in the industry in the coming years.
Cat-themed memecoins like Popcat and WIF have shown strong bullish trends over the past few days, outperforming other memecoins in the industry. The entire category gained 6% this weekend despite the general market inactivity.