Continuing its impressive 2024, Bitcoin has once again reached a new all-time high (ATH). That has proven massive for the industry, as the crypto market has responded with surges throughout the sector.
The leading cryptocurrency had exploded past the $75,000 mark, beating the last record it set in March of this year.
That increase had a ripple effect on a sea of other tokens. Among them was the meme coin sector, which collectively increased more than 22%.
However, some proved to be affected more than others. Specifically, market leader Dogecoin and top meme options Neiro and Pepe saw the biggest gains.
But who else saw a positive response to Bitcoin’s record increase? Let’s explore the leading crypto’s meme coin’s rise, and how it pushed the meme coin market up with it.
Bitcoin Hits New All-Time High as Trump Secures Victory
The 2024 presidential election was always bound to have an effect on the crypto market. However, very few would’ve expected such an immediate response.
Although both candidates were positive toward cryptocurrencies, it was Donald Trump who emerged as the first truly pro-Bitcoin candidate. After he emerged victorious in the polls, the industry responded with unprecedented increases.
It was his win the drove Bitcoin’s eventual ascension to well above the $76,000 mark.
Financial analysts like Nigel Green, CEO of the deVere Group, have forecasted that Bitcoin’s rally will only continue. Indeed, Green says that the asset has the potential to reach $80,000 in the short term.
Trump’s promise to do away with the “persecution” of the crypto industry has led to increased hope in the market. But that didn’t just affect Bitcoin. Indeed, his election led to a 7.6% increase in the crypto market as a whole.
Meme coins, in particular, have boomed since the election. With a 22.4% spike, there is the belief that we could see a possible “meme coin supercycle.”
The memecoin supercycle theory holds that we might see a prolonged —or indefinite — period of massive growth. That growth will only be carried on by the passionate communities that these coins have established.
Elon Musk’s Favorite Meme Coin, Dogecoin, Up 20%
Dogecoin ($DOGE), a favorite of tech billionaire Elon Musk, has surged 20%, largely due to Musk’s playful suggestion of establishing a “Department of Government Efficiency” or D.O.G.E.
His close association with the coin has been a major catalyst for Dogecoin’s popularity, and the idea has breathed new life into the coin.
With Trump promising to appoint Musk as the head of a new department to oversee government spending, Dogecoin’s upward trajectory might continue.
The token has already risen 80% this month, solidifying its place as one of the most resilient and influential meme coins in the market.
NEIRO Rallies 33% After Coinbase Perpetual Futures Listing Announcement
First Neiro on Ethereum ($NEIRO), has also been catching investor attention, with its value skyrocketing by 33% over the past 24 hours.
This rally comes after a difficult week in which NEIRO was down by 10%. However, the recent announcement from Coinbase regarding the listing of NEIRO perpetual futures turned things around dramatically.
The meme coin is named after Neiro, a Shiba Inu owned by the same person who owned the dog behind the iconic Doge meme. This connection to Dogecoin has made NEIRO an appealing asset for investors looking to capitalize on the memecoin trend.
Pepe Rides the Meme Coin Wave, Up 15%
Pepe ($PEPE) has seen an impressive 15% spike overnight, outpacing Bitcoin’s growth.
Pepe’s growth this year has been nothing short of spectacular, boasting an impressive 700% increase and solidifying its place in the top ten which is dominated by dog-themed coins.
Additionally, this recent surge is part of a larger trend, as meme coins continue to capture attention and investment.
Despite Pepe’s consistent growth, challenges remain, particularly due to the token’s reliance on the Ethereum network, where high transaction fees and slower processing times pose obstacles.
With the potentially imminent memecoin supercycle, there’s a new competitor for the top frog.
Pepe Unchained Races Past $25 Million
Amid the explosive growth in meme coins, Pepe Unchained ($PEPU) has emerged as a standout player, with its presale recently surpassing the $25 million mark.
This meme coin offers more than just cultural appeal; it’s an Ethereum Layer-2 solution that will reduce costs, creating a new home for meme coins on Ethereum.
Trading at $0.01229, Pepe Unchained also boasts an impressive staking APY of 95%, offering a lucrative opportunity for investors.
Adding to its appeal, Pepe Unchained has introduced the “Pepe Frens With Benefits Collective.” Therefore, this program offers grants for developers who contribute to the Pepe Unchained L2 blockchain.
Indeed, this helps foster innovation while building a stronger ecosystem around the token, potentially leading to further growth and increased adoption.
For those interested in joining the Pepe Unchained community, PEPU tokens can be purchased on its official website, and updates are regularly posted on its X (Twitter) page and Telegram channel.
With its combination of high staking rewards, unique utility, active developer incentives, and a community-driven roadmap, Pepe Unchained has positioned itself as a meme coin with staying power.
