WIF, PEPE and SEI will light up as cryptocurrencies increase
WIF, PEPE and SEI were among the top performers as Bitcoin rose above $63,800 on September 19. Analyst says WIF may outperform market in coming weeks.
Meme coins dogwifhat (WIF) and Pepe (PEPE), as well as Layer 1 blockchain Sei (SEI) are among the leaders with several altcoins recording their best performance in the last 24 hours.
SEI rose by 19%, WIF by 17% and PEPE by 12%, as the crypto reached above $63,000 on Thursday amid Bitcoin's surge.
According to data from CoinGecko, the value of SEI has increased by 224% to $345 million, and the price of SEI has reached a high of $0.35. Meanwhile, WIF traded at $1.81 on major exchanges, a 24-hour increase of 109% at the time of writing, with revenue of over $717 million.
Since Kraken announced spot trading support, POPCAT has continued to outperform other top 100 coins in market cap. However, Meme Coin Pepe scored well to rank among the best performers of the day. PEPE price jumped more than 12% to hit the last seen level on August 28.
According to crypto analyst RookieXBT, the price of DogWife has the potential to offset the losses seen during recent weeks of declines. Notably, the analyst also sees additional profits for POPCAT.
$WIF will wipe out six months of depreciation in 2-3 weeks but you won't believe it $POPCAT will pay more and be the 5th biggest memory but you won't believe it
Believing in something
— RookieXBT 🧲 (@RookieXBT) September 19, 2024
Crypto spikes after the Fed cuts interest rates
Most coins are recording significant gains in the past 24 hours after the market reacted to the US Federal Reserve's interest rate cut on September 18. After four years, the Fed cut interest rates by 50 basis points on Wednesday.
Bitcoin prices rocketed after the decision, with BTC first breaking above $60k to bolster overall sentiment. Prices retested resistance around $62.2k before dipping slightly – then ran above $63.8k.
Solana (SOL) gained more than 10% to break above $143, while altcoins such as Sui, Aptos, Bittensor and Avalanche registered more than 12% respectively.
