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Crypto Paradox: Meme Coin Frenzy Defies Altseason Logic

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  • PNUT is up a large 3,000% within the final month.
  • XRP is again above the $1 worth stage, whereas gaining 101.97% over the previous week.
  • HBAR is up 40.95% in 24 hours, whereas it’s up 120% within the final week.

Meme coin Squirrel the Peanut (PNUT) has exploded over 3,000% prior to now month, whereas altcoin XRP is up 113.82%. However one analyst says the altcoin season hasn't even began but.

In a publish on X Altcoin Buzz, he famous that solely 5 of the highest 100 digital property by market capitalization have risen by greater than 100% within the final 7 days. These embrace PNUT, XRP, Hedera (HBAR), Mantra (OM) and Stellar (XLM). In the meantime, Bitcoin is nearing its all-time excessive.

Bitcoin is buying and selling at $91,642.13, up 1.25% within the final 24 hours, in keeping with CoinMarketCap knowledge, whereas altcoins had been additionally within the inexperienced. XRP rallied 10.17% and is lastly again above the $1 worth stage, at present buying and selling at $1.17, up 101.97% over the previous week for a market cap of $66.56 billion. In the meantime, PNUT is buying and selling at $1.66, up 1.57% within the final day. Over the previous seven days, the altcoin has risen by 354.29% to achieve a market capitalization of $1.66 billion.

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HBAR, OM and XLM kind an uptrend

HBAR is up 40.95% within the final 24 hours and is buying and selling at $0.1208 with a market cap of $4.55 billion. Over the previous week, the cryptocurrency has gained 120.29%, whereas it has gained 129.51% over the previous 30 days. Moreover, on the time of writing, OM is buying and selling at $4.19, up 26.91% within the final day. The altcoin reached a market capitalization of $3.77 billion after a 201.61% improve in worth over the previous 30 days.

Additionally Learn: Meme Cash Rise In Recognition; Dominate the cryptocurrency rankings

Lastly, XLM additionally outperformed the broader digital asset market final week, rising 22.23% prior to now 24 hours to commerce at $0.2482 with a market cap of $7.43 billion. Additionally, the altcoin has printed a considerable acquire of 156.23% over the past 30 months.

Disclaimer: The data supplied on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any type. Coin Version shall not be answerable for any losses incurred because of using mentioned content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.

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