Green trades are rising in the meme coin sector for two reasons – the rise in interest of traders plus investors and the willingness of the community to explore their options after Bitcoin Halving to take profits home. The word Gree Trades, here, reflects the upward trend in the listed price of meme coins. This is majorly evident from the fact that the overall Market Cap of the segment has surged by 3.55%, rallying to $53,293,647,299, at the time of writing this article.
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Conditions for green trades with meme coins
To clarify, a green trade can mean two things – the best time to sell, or the right time to get on board to experience the bull run. There are several more interpretations but the article sticks to these two interpretations right now. Traders who have recovered their paper losses potentially see this as a time to shed some weight and book a decent profit. Others can potentially get on board with HODL sentiments as the prices can still reverse the uptick.
Most of the rise in the value is credited to the likes of BONK, WIF, and PEPE, among others. They have notably bagged a growth by double digits. For instance, PEPE has risen by 47.78% in the last 7 days and WIF has increased by 3.64% during the same time window. BONK is rallying with a growth of 83.79% in the said time frame.
Making this interesting is the fact that the rise in value and interest comes at a time when Eddy Lazzarin, a top executive at Andreessen Horowitz, has issued statements against the entire meme coin segment. They have said that meme coins are damaging the crypto market by altering the perception of cryptocurrency for the public, entrepreneurs, and regulators.
Specifics, if any?
Yes, there are specifics to be analyzed in the meme coin sphere. For starters, DOGE, the leading meme token, is down by 0.99% and 2.10% in the last 24 hours and 7 days respectively. It has a market cap of more than $21 billion. That could probably remain unhampered. SHIB is following the trails with a rise of 3.87% and 9.77% in the last 24 hours and 7 days, in the same order.
The entry of MAGA VP, also referred to as MVP, has brought a lot of attention. This is based on the fact that the value of $0.1436 is a massive increase of 113.14% in the last 7 days. The Market Cap is around $8 million but it is speculated that it could soon follow in the footsteps of MAGA TRUMP to achieve +$600 million a higher mark. It will ultimately come down to its swings between the best highs and lows.
Conclusion
Meme coins are trading at a better value due to a rise in the interest by investors and traders. They remain subject to volatility. Conduct thorough research and proceed to buy, sell, or exchange tokens accordingly.
The post Green trades are rising for meme coins PEPE, BONK, WIF, FLOKI, and MVP, is it a bull run? appeared first on Blockonomi.