In a surprising twist, meme tokens Popcat (POPCAT) and Dogs (DOGS) are leading the pack among the top 100 cryptocurrencies by market cap, riding high on Bitcoin’s recent surge. As Bitcoin’s price climbs back above $56,000, Popcat and Dogs have posted significant 24-hour gains of 19% and 16%, respectively.
The rebound in Bitcoin comes as the cryptocurrency pushes past $56,800, recovering from a recent dip that saw it drop to around $53,300 on September 7. This recovery has helped lift sentiment across the crypto market.
Popcat, which is based on Solana, and Dogs, related to Telegram, have both benefited from increased futures trading support. Binance recently launched perpetual contracts for Popcat, boosting its price. OKX also joined in, adding Popcat futures and running a trading contest with rewards up to $100.
Meanwhile, DOGS, which faced a dip due to the arrest of Telegram CEO Pavel Durov, has bounced back since falling to $0.0009 earlier this month. Binance is backing DOGS with a contest offering 40 million DOGS, which runs until September 17.
According to Coinmarketcap, DOGS is trading at $0.001061, up 8.31% in the past 24 hours, with a market cap of $548M and a trading volume of $578M. Popcat (SOL) is at $0.614348, rising 13.11% in the past 24 hours, with a market cap of $602M and a trading volume of $113M.
The recovery in Bitcoin is also supported by a rise in the Coinbase Premium Index, signaling increased institutional interest. Analysts at CryptoQuant note that continued accumulation by long-term holders could signal a stronger finish to the year.
Bernstein analysts even predict Bitcoin could soar to $80,000-$90,000 if Donald Trump wins the U.S. presidential election, though they caution that a win by Kamala Harris could push prices down to $30,000.
This wave of positive sentiment and futures trading support has given both Popcat and Dogs a significant boost, highlighting the volatile yet exciting nature of the cryptocurrency market.
