In brief
- Meme coins including SHIB, PEPE, PENGU, BONK, and WIF are leading crypto’s recovery from Friday’s crash, pushing the total meme coin market cap to $69 billion.
- Friday’s selloff triggered nearly $20 billion in liquidations, the largest single-day wipeout in crypto history, as Bitcoin plunged from $121,000 to $109,000 before rebounding.
- Analysts told Decrypt the rebound is “logical” as the assets that crash the hardest tend to bounce back quicker.
Meme coins led a recovery rally Monday morning, with traders piling into high-risk assets as cooling U.S.-China tensions helping crypto markets rebound after they suffered their worst liquidation event in history.
Dogecoin (DOGE) rose 11.9% to $0.21 over the past 24 hours, while other popular meme coins posted even stronger gains, according to CoinGecko data.
Dogwifhat (WIF) surged by 18.4%,
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Author: Vismaya V
