- WIF, PEPE and SEI have been amongst prime performing altcoins as Bitcoin surged to above $63,800 on Sept. 19.
- These positive aspects adopted US Federal Reserve’s 0.5% rate of interest reduce.
- Analyst says WIF might outpace market in coming weeks.
Meme cash dogwifhat (WIF) and Pepe (PEPE), in addition to layer 1 blockchain Sei (SEI) are among the many prime gainers previously 24 hours as a number of altcoins file their greatest performances for some time.
SEI was up 19%, WIF 17% and PEPE 12% as crypto rose amid Bitcoin’s surge to above $63,000 on Thursday.
In keeping with knowledge from CoinGecko, SEI worth reached highs of $0.35 as its quantity jumped 224% to over $345 million. In the meantime, WIF traded to $1.81 throughout main exchanges, notching 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 spot buying and selling assist, continued to outpace all different prime 100 cash by market cap. Nonetheless, meme coin Pepe additionally recorded respectable positive aspects to rank amongst greatest performers on the day. PEPE worth jumped greater than 12% to hit ranges final seen on Aug. 28.
In keeping with crypto analyst RookieXBT, dogwifhat worth has the potential to pare losses seen throughout its current downtrend inside weeks. Notably, the analyst additionally sees additional positive aspects for POPCAT.
$WIF going to erase six months price of downtrend in 2-3 weeks however you wouldn’t consider it$POPCAT will reprice additional and develop into the fifth largest meme however you wouldn’t consider it
consider in one thing
— RookieXBT 🧲 (@RookieXBT) September 19, 2024
Crypto spikes after Fed rate of interest reduce
A lot of the cash seeing important positive aspects previously 24 hours are registering the upside after the market reacted upward to the US Federal Reserve’s rate of interest reduce on Sept. 18. After 4 years, the Fed slashed rates of interest by 50 foundation factors on Wednesday.
Bitcoin worth rocketed after the choice, with BTC first breaking above $60k to bolster general sentiment. Costs retested resistance round $62.2k earlier than a slight dip – then roared again to above $63.8k.
Solana (SOL) broke above $143 with over 10% positive aspects, whereas altcoins resembling Sui, Aptos, Bittensor and Avalanche recorded greater than 12% respectively.
