Memecoin Linked to Defunct Hedge Fund 3AC Soars 35%
Release: 2024/10/14 20:30 Reading: 476
Meme Coin Market Surges, Led by 47% Gains for 3AC
The meme coin market has experienced a surge in recent days, driven by strong performance from several key tokens. The sector's market capitalization has climbed to $58.1 billion, a 2.3% increase over the past 24 hours.
3AC Coins Soar
The Three Arrows Capital (3AC) meme coin, 3AC, has been a standout performer, escalating by over 47% to trade at $0.04516. The token's recent uptrend has been attributed to a long position taken by 3AC co-founder Su Zhu at $0.0321.
Analyst Forecast
Crypto analyst Murad has predicted that meme coins could dominate the current market cycle. He believes that their appeal and momentum could propel these tokens to new heights, potentially outperforming other crypto assets.
Other Notable Gains
Other meme coins have also shown strong gains during the past 24 hours. BRETT has climbed by 15.52% to $0.1139, BOME and MOG have risen by over 9%, trading at $0.008966 and $0.00000211, respectively, and FLOKI has jumped by 6.95% to $0.0001484.
Conclusion
The meme coin market is exhibiting signs of revival, and several tokens are recovering from recent declines. Analysts are optimistic about the future prospects of meme coins, expecting them to potentially play a significant role in the current cryptocurrency market cycle.
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