Bitcoin Hits Record High Against Euro as Memecoin Market Surges
Bitcoin soared to an all-time high against the euro on Monday while the memecoin market experienced a significant rally, reaching a staggering $52 billion market capitalization within a mere 24 hours.
Leading memecoins such as Dogecoin, Shiba Inu, and PepeCoin witnessed impressive gains, with Dogecoin and Shiba Inu surging by over 18%. PepeCoin stole the show, skyrocketing by more than 32% and even surpassing a remarkable $3 billion market cap. Solana’s BONK also joined the party with a 28% increase. According to CoinGecko, the memecoin market cap recorded a notable 17% daily rise, reaching an astonishing $53.1 billion.
Kabosu Inu, Pepemon Pepeballs, and Popcat were among the top gainers during this rally, with each of them witnessing a staggering jump of over 150%.
Not stopping there, Bitcoin smashed through the €60,000 mark for the first time on Monday, enjoying a 5% surge from its intraday low. This pushed the leading cryptocurrency’s value to an impressive €59,981, marking a 56% year-to-date increase. In late February, Bitcoin had already broken the €53,000 ceiling, setting new highs against various fiat currencies, including the Chinese yuan.
The market frenzy surrounding cryptocurrencies, particularly memecoins, has sparked the curiosity of investors who are now showing an increased interest in these digital assets. Bitcoin’s remarkable performance against the euro and other fiat currencies further solidifies its position as a leading player in the cryptocurrency market.
Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Please consult with a professional advisor before engaging in any cryptocurrency investments.
Analyst comment
Positive news.
As an analyst, the market is expected to continue its upward trend with increased interest from investors due to the record high of Bitcoin against the euro and the significant rally in the memecoin market. The strong performance of leading memecoins and Bitcoin’s impressive year-to-date increase suggest a positive sentiment in the cryptocurrency market. However, caution should be exercised, and it is advisable to consult with a professional advisor before making any cryptocurrency investments.
