Trending Coins on Uniswap: Meme coins pump - PEPE, POWELL & Musk vs Zuck go viral.
The bullish market sentiment continues. The broad market is trading up about 3.5% in the last 24 hours. Here, Bitcoin and Ethereum can drive the recovery with around 4% gains each. The latest development in the meme coin market segment is even more bullish. According to aggregated data from CoinMarketCap, the market capitalization in this segment is increasing by around 8%. Among large-cap meme coins, Pepe and Floki are the big winners with 35% and 20%, respectively.
There are even significantly larger returns in the second tier of the market segment. We took a closer look at leading data website DEXTools and Ethereum-DEX Uniswap and identified three meme tokens that are currently going viral: PEPE, POWELL & MuskvsZuck.
PEPE DEXTOOL
PEPE drives recovery: best top 100 cryptocurrency
On a weekly basis, Pepe Coin (PEPE) is pumping around 65%, driving the recovery massively. In the top 100 digital currency market, PEPE is currently leading the bullish movement. After a massive corrective move, PEPE is still trading around 65% below ATH, yet the recent pump presents itself as a possible breakout above a key resistance.
Nevertheless, PEPE of course remains an established meme coin with a market cap of over $500 million and is undoubtedly good for another price double or more. However, the parabolic price trends we currently see with other trending coins on Uniswap seem to be out of the question with PEPE.
Nevertheless, PEPE of course remains an established meme coin with a market cap of over $500 million and is undoubtedly good for another price double or more. However, the parabolic price trends we currently see with other trending coins on Uniswap seem to be out of the question with PEPE.
POWEEL FED CHAIR
POWELL explodes 8500%: FED Chair Triggers Pump
Strongly trending is the new meme coin POWELL, which experienced a value increase of around 8500% in the last 24 hours. The price rally can be directly attributed to a current event. Because yesterday, the Fed Chairman Jerome Powell stood to US politics speech and answer. Here, the leading central banker reported on further rising interest rates and a stubborn fight against inflation in the US. This presents a familiar picture. Currently, meme tokens on the decentralized crypto exchanges are being pushed towards the "Moon", referencing a contemporary event. With an 8500% pump, POWELL has undoubtedly generated absurd returns for some early investors. Nevertheless, this also increases the risk.
In the past, it has often been shown that such parabolic developments are often followed by corrections of 50% and more. Those who are too late pay into the market. The following chart already shows one thing: Whoever entered at the wrong time last night did not make any profits - on the contrary.
New Meme-Coin MuskvsZuck: Cage fight as viral price driver
Potentially, MuskvsZuck could be a trending coin of the next few hours on Uniswap. That's because this one builds on a news story that made the rounds on social media today. Elon Musk and Mark Zuckerberg are preparing for a cage fight.
Strongly trending is the new meme coin POWELL, which experienced a value increase of around 8500% in the last 24 hours. The price rally can be directly attributed to a current event. Because yesterday, the Fed Chairman Jerome Powell stood to US politics speech and answer. Here, the leading central banker reported on further rising interest rates and a stubborn fight against inflation in the US. This presents a familiar picture. Currently, meme tokens on the decentralized crypto exchanges are being pushed towards the "Moon", referencing a contemporary event. With an 8500% pump, POWELL has undoubtedly generated absurd returns for some early investors. Nevertheless, this also increases the risk.
In the past, it has often been shown that such parabolic developments are often followed by corrections of 50% and more. Those who are too late pay into the market. The following chart already shows one thing: Whoever entered at the wrong time last night did not make any profits - on the contrary.
New Meme-Coin MuskvsZuck: Cage fight as viral price driver
Potentially, MuskvsZuck could be a trending coin of the next few hours on Uniswap. That's because this one builds on a news story that made the rounds on social media today. Elon Musk and Mark Zuckerberg are preparing for a cage fight.
TECH BATTLE
The tech battle of the year (or century) led directly to the DEX launch of a new meme coin that appeared on DEXTools less than an hour ago.
Thus, the idea stems from the verbal battle between Elon Musk and Mark Zuckerberg, which has now resulted in a commitment to a Cage fight. Whether this will ultimately become reality may be doubted. But the news goes viral & MuskvZuck could follow.
Inflation & Fed rate decision - what investors must pay attention to
In this context, the key interest rate projections were raised to 5.6% at the end of 2023 and 4.6% at the end of 2024. The market would apparently have hoped for a quicker return to the dovish camp here.
The following aspects from Powell's speech are likely to be important for the market:
Demand on the labor market continues to outstrip supply
Long-term inflation expectations are well anchored
Full impact of interest rate hikes not yet realized
Inflationary pressure remains high
Price stability essential for economy
Moderate economic growth remains likely
Positive correlation between liquidity and cryptos
But why are inflation & monetary policy so important for the digital currency market?
HIDDEN EVIDENCE
Historically evident, there is a positive correlation between the crypto market and global liquidity. This refers to the presence of money in circulation and the availability of liquidity. Increased global liquidity means that there is more money in the financial system and more investors flock to the crypto market. This has always led to increased demand for cryptocurrencies in a bull market. Reduced global liquidity, on the other hand, can cause a decrease in demand. Therefore, global liquidity plays an important role in the performance of the crypto market.
However, the following chart looks positive. This is because we see only a slight retracement in the global M2 money supply. Historically, central banks still returned to an expansive expansion of the money supply, so the current moment could be perfect for accumulation
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