Over the past 24 hours, the meme coin DOGE has surged by more than 12%. Meanwhile, Bitcoin has shown recovery, rising from under $59,000 yesterday to over $63,000 today.

The positive trend in meme coins has also positively impacted other altcoins in the market, showing significant gains once again.

Bitcoin Faces Volatility Amidst Adverse Trading Week

Bitcoin faced a week of unstable trading with notable price fluctuations. The week began with Bitcoin surging to nearly $65,000 on Monday before dropping down to $62,000 due to bearish activity.

The bearish trend continued as Bitcoin fell below $60,000, reaching a low of $56,500 on Wednesday. Following the US Federal Open Market Committee meeting that announced no immediate interest rate hikes, Bitcoin experienced a $2,000 increase and decrease in price before stabilizing around the $60,000 mark.

Meme Coin Rally and Top Altcoin Gainers

Among the volatile meme coin sector, top gainers in the altcoin market have emerged. Dogecoin saw a surge of over 12%, trading at $0.15, while PEPE and SHIB also recorded increases of 11.7% and 8% respectively. STX surged by 14% to reach $2.4.

Ethereum and Binance Coin exhibited increases of approximately 3.5% each, with ETH surpassing $3,100 and BNB trading at $585. Other larger-cap altcoins like TON, BC, AVAX, NEAR, and HBAR also showed positive movements.

Since hitting a low on Wednesday, the total cryptocurrency market cap has increased by over $200 billion, standing at $2.460 trillion according to CoinGecko.

Cryptocurrency Market Overview. Source: QuantifyCrypto

Note: This article provides information and should not be construed as legal, tax, investment, financial, or any other form of advice.