This Week in Coins: Meme Coins Come Back, Bitcoin Stands Up and Avalanche Blows

This Week In Coins: Meme Coins Come Back, Bitcoin Stands Up And Avalanche Blows


Description by Mitchell Prefer for Decrypt.

Major coins and tokens took an initial swing upwards a few days ago in the red this week.

Currently, Bitcoin (BTC) is trading at $36,735 with a 24-hour jump of 2%. Over seven days, it's basically flat.

The coin started the week on a strong note, regularly flirting with the 18-month high of $37,000 it touched last week, but has since struggled to sit comfortably above that figure.

The US Securities and Exchange Commission has once again hit the delay button on Bitcoin ETF applications from Franklin Templeton, HashDex and GlobalX, which could be a slightly bearish (albeit expected) sign for investors.

bybit

Meme coins have made a strange resurgence this week, with Dogecoin (DOGE) being one of the best performers. Elon Musk's favorite price is now at $0.08 – a small gain in seven days.

Naturally, the Shiba Inu (SHIB) also scored well. DOGE's rival, Dog Coin, is trading at $0.00000861, up 2.5% at the time boxing legend Manny Pacquiao announced that his charity foundation will use the token's blockchain network Shibarium for fundraising.

Elsewhere, altcoin star Solana (SOL) saw its long run rally. Ethereum-rivals hit another annual high on Monday but slowed its run. It is currently priced at $58.31, and has increased by 5.6% in the last 24 hours.

And Avalanche (AVAX) surged after GP Morgan said it used blockchain to simulate portfolios. AVAX, the 12th largest digital asset by market capitalization, traded at $22.12, up more than 46% on the week—making it this week's winner.

Edited by Ryan Ozawa.

Stay on top of crypto news, get daily updates in your inbox.

Leave a Reply

Pin It on Pinterest