- WIF, PEPE, and SEI had been among the many greatest performing altcoins as Bitcoin jumped above $63,800 on September 19.
- These beneficial properties adopted a 0.5% rate of interest lower by the US Federal Reserve.
- The analyst says WIF might outperform the market within the coming weeks.
Meme cash dogwifhat (WIF) and Pepe (PEPE) in addition to layer 1 blockchain Sei (SEI) are among the many largest gainers previously 24 hours as a number of altcoins have seen their greatest performances for some time.
SEI rose 19%, WIF 17% and PEPE 12% because the cryptocurrency rose amid Bitcoin's surge above $63,000 on Thursday.
SEI hit a excessive of $0.35 as its quantity jumped 224% to over $345 million, in accordance with knowledge from CoinGecko. In the meantime, WIF was buying and selling at $1.81 on main exchanges, recording an intraday quantity of over $717 million with a 24-hour enhance of 109% on the time of writing.
Popcat (POPCAT), which has rallied since Kraken introduced help for spot buying and selling, has continued to outperform all different high 100 cash by market cap. Nevertheless, meme coin Pepe additionally noticed respectable beneficial properties to rank among the many greatest performers of the day. The worth of PEPE jumped greater than 12% to succeed in the extent final seen on August 28.
Based on crypto analyst RookieXBT, the dogwifhat value has the potential to pare the losses seen throughout its latest downtrend inside just a few weeks. Notably, the analyst additionally sees additional beneficial properties for POPCAT.
$WIF in 2-3 weeks you wipe out six months value of downtrend, you wouldn't imagine it$POPCAT it’ll re-rate additional and develop into the fifth largest meme however you wouldn't imagine it
to imagine in one thing
— RookieXBT 🧲 (@RookieXBT) September 19, 2024
Cryptocurrencies surged after the Fed lower rates of interest
A lot of the cash which have seen important beneficial properties within the final 24 hours are seeing bullish progress after the market reacted to the US Federal Reserve's rate of interest lower on September 18. After 4 years, the Fed lower rates of interest by 50 foundation factors on Wednesday.
The worth of Bitcoin skyrocketed after the choice, with BTC first breaking above $60,000 to spice up total sentiment. Costs retested the resistance round $62.2000 earlier than a slight decline – then pulled again above $63.8000.
Solana (SOL) broke above $143 with greater than 10% beneficial properties, whereas altcoins like Sui, Aptos, Bittensor and Avalanche noticed greater than 12% beneficial properties.
