Markets
3 meme coins with 300X potential post-CPI data
Crypto markets are rallying as macroeconomic data drives bullish reactions in top assets and meme coins. Recovering from weekly lows that saw billions in outflows and massive liquidation of long positions, crypto enthusiasts predict growth to previous highs.
To date, the total crypto market value is $2.52 trillion, up 3%, while meme coins are up 1% to $61.9 billion. Recent CPI data is giving market participants a wake-up call as inflation in the United States cools. The annual numbers in May were 3.3% below projected expectations of 3.4%. Similarly, core CPI increased by 3.4% versus the 3.5% forecast. The monthly numbers were also cooler than expected, with market bulls projecting future interest rate cuts. Here are the main ones
meme coins firing following IPC data.
Zoomer (Sun)
Zoomer is the biggest gainer in the last 24 hours, recording gains of over 140%. Assets are up 157% this week despite sluggish performance due to the broader market downturn. Overall, its number remained in the green zone despite the crypto correction, with a broader increase of 221%. Zoomer’s market capitalization has risen to $1.6 million, while trading volumes are slightly above the $1 million mark.
Cat Keyboard (KEYCAT)
Keyboard Cat follows Zoomer on top meme coins with 300X potential. The asset is up 114% today, erasing weekly losses due to the broader market correction. In the last seven days, KEYCAT is up 15%, while the monthly numbers are negative. According to
CoinGecko data, the asset increased by $1.6 million with daily volumes above 252,000. Cat-themed tokens have shown sharp spikes this year, recording huge gains.
CatSolHat (SOLCAT)
The popular SOLCAT soared 86% in the last 24 hours with positive mid-day trading as bulls recovered behind the cold IPC data. These gains erased losses, bringing weekly gains up to 3.1%. With trading volumes above $420,000, its community anticipates an increase in market capitalization. Generally, lower inflation signals possible lower interest rates, which could lead to inflows into risky assets.
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David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in learning about emerging technologies and keeps an eye on the latest news. Keeping up to date with trends, David has reported across multiple niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from financial markets, David rides his bike and horses.