5 Meme Currencies Rise Sharply After Bitcoin Mining Rewards Halving

In the cryptocurrency market, it is surprising that the recent halving event did not put Bitcoin in the spotlight. Instead, meme pieces, especially dog-themed ones, increased dramatically over the weekend.

After Friday night's halving, which reduced miner rewards by 50%, Bitcoin saw modest gains. However, even coins like BONK and FLOKI have seen notable price increases.

Meme coins are on the rise

He led the meme currency BONK Which is taken from Solana It increased by 46%, bringing its price to $0.000022. This represents a significant rebound for BONK, which saw a significant decline earlier in April.

Other notable performers include Ethereum-based FLOKI, which rose nearly 26% to $0.000018, and Shiba Inu (SHIB), which increased by 24% to exceed $0.000028.

Read more: 7 Hot Meme Coins and Popular Altcoins in 2024

These gains vary depending on performance Bitcoin Relatively stable after the decline, which saw an increase of just 1.5% to just under $65,000. This moderate move follows a record high of $73,805 set in March, driven by anticipation and the launch of spot Bitcoin exchange-traded funds (ETFs).

Historically, Bitcoin's largest gains have been made months after a halving event, indicating potential future growth.

“The 2024 halving will demonstrate the resilience and maturity of the Bitcoin market, with lower volatility observed due to institutional participation and the introduction of ETFs. Forecasts for the next halving include the potential for less pronounced price fluctuations in the short term, but a significant rise in prices. in the long term, and potentially it exceeds all-time highs,” Hao Yang, head of financial products at Bybit, told BeInCrypto.

Amid this dynamic, the cryptocurrency community is also full of Runes, a new standard for Bitcoin fungible tokens. The first blocks after the halving saw millions spent by users eager to create tokens using this innovative protocol.