After a slight rebound to $60,000, Bitcoin faced selling pressure that caused its price to fall below the $61,000 support zone and further below its previous daily support. Consequently, Bitcoin experienced a drop of about 16%.
This decline was primarily driven by fear, uncertainty, and doubt (FUD) triggered by the continuous sale of Bitcoin by the German government and the potential selloff following Mt. Gox Bitcoin repayment.
At press time, Bitcoin trades at $57,300, while Ethereum hovers around $3,000.
Despite the selling pressure, experts believe Bitcoin could see a consolidation and potential bull rally driven by the upcoming US presidential election between the perceived pro-crypto candidate Donald Trump and incumbent President Joe Biden.
Despite the market downturn, investors are seizing the opportunity to invest in Bitcoin. According to Bloomberg data, spot Bitcoin ETFs witnessed $438M inflows over the past two trading sessions.
On July 8, the total net inflow of Bitcoin spot ETFs was $295 million, the highest inflow in the past 21 days. Yesterday, the German government also sold the largest amount of BTCs in recent times, reaching $915.3 million. Grayscale ETF GBTC had a single-day inflow of $25.0753… pic.twitter.com/Xzw0NANog6
— Wu Blockchain (@WuBlockchain) July 9, 2024
While major crypto assets are showing signs of movement, it’s too early to call a price bottom.
However, opportunities abound in the on-chain markets where newer coins are launched and traded on-chain.
Despite the gains earned from these underdogs, it’s important to stress how risky these on-chain coins are and their potential for fraudulent activities.
Matt Furie’s Meme Coin Mania: $MATT Surges 362%
$MATT is one of the latest meme coins shaking up the Solana blockchain.
The meme coin claims to be the last NFT narrative coin and asserts to promote community engagement and financial freedom aligned with the decentralized finance (DeFi) sector.
Matt Furie
SOL play only recently launched here apes solid team too on this one would look for good entries hyped right now and looking real strong can definitely do well this one and make X’s with a solid entry! love the name branding and graphics on this has the potential to… pic.twitter.com/pb2KGkufMV
— Bruiser (@bruiserscalls) July 9, 2024
The token has surged by over 362% in the past day, trading at a discounted price of $0.0002503 per token.
The asset boasts a robust 24-hour trading volume of $1M, with a market cap of $251K and a holder base 1,824.
$FURIE is up by 362% in the last 24 hours. Source: DEXScreenerSetting itself apart from other meme coins on Solana, $MATT is distinguished by its association with Matt Furie, renowned creator of iconic meme coins like $PEPE, $BRETT, and $WOLF, which generated over 5,000% gains for early investors.
The meme coin has an active X (Twitter) and Telegram page with a following of 76 and 800, respectively.
While this is deemed small compared to other massive meme coins, $MATT still fosters a vibrant community atmosphere dueled with hype as traders rally for the next meme coin moonshot.
$MATT latest price action places the token among top crypto gainers, making it a token worth observing, especially for short-term traders seeking quick gains.
However, potential investors should exercise caution and conduct thorough research due to the inherent volatility and risks in the crypto market.
Landlord Ronald Takes the Reigns: Solana Meme Coin Hits 93%
$LANDLORD is another meme coin that ranks among the top crypto gainers on the Solana chain.
This token is tied to a humorous meme story about Ronald, a fictional character known as the wealthiest LANDLORD on Solana.
Ronald is portrayed as the lender for influential figures like Donald Trump and Robert Kiyosaki.
He also rules Matt Furie’s Boys’ Club, collecting rent from characters like popular meme coin characters $BRET, $PEPE, $ANDY, and $LANDWOLF.
Despite the playful narrative, Ronald is depicted as financially savvy, investing his rental income into crypto with the belief that crypto can help him achieve billionaire status.
At press time, $LANDLORD trades at $0.01008 per token, marking a 93.71% increase in the last 24 hours. It has a trading volume of $7.7 million, a market cap of $8.3 million, and 6,495 holders.
$LANDLORD recorded $7.7M trading volume in the past day. Source: DEXScreenerThe discounted price and unique meme coin ecosystem make $LANDLORD an intriguing investment.
The asset boasts an active following of 3,395 members on X and enjoys significant hype due to its association with popular meme coins like $PEPE and $BRET.
While $LANDLORD stands out as a top meme coin for potential gains, traders should be cautious.
Meme coins often lack utility and are driven by hype, which can lead to unsustainable price growth once the initial excitement fades.
Jacky ($JACKY): A 51% Gain in 24 Hours, But Is It Sustainable?
$JACKY is a meme coin with no intrinsic value or expectation of financial return. According to its official website, $JACKY is “completely useless” and intended solely for entertainment.
We are verified now on @solscanofficial @jackysolmeme pic.twitter.com/Y1DXJd9X9F
— $jacky (@jackysolmeme) July 9, 2024
At press time, $JACKY trades at $0.0005292, showing a 51.45% increase in the last 24 hours. It has a daily trading volume of $3.4M, market cap of $411K, and 33,833 holders.
$JACKY recorded over 50% in the past day. Source: DEXScreenerDespite its lack of intrinsic value, $JACKY’s inclusion among the top crypto gainers is justified.
The meme coin has a modest social community with 1,493 followers on X (formerly Twitter) and 1,135 members on Telegram.
Nevertheless, the lack of utility and the possibility of fleeting hype could lead to a decline in $JACKY’s price.
While the current upward trend is promising, the inherent risks associated with meme coins should not be overlooked.
Top Crypto Gainers are Exciting, but Crypto Presales Offer a New Horizon
The meme coins mentioned above are among the top crypto gainers today due to their impressive price gains and hot-red trading volume in the past 24 hours.
However, if you are keen on massive returns on low capital investment, meme coin crypto presale stands as the best option.
Here is a list of the best presale meme coins available in the market right now, thus presenting you with well-researched options to choose from.
14 Best Crypto Presales to Invest In Now
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