Dogecoin, Shiba Inu Climb But These Emerging Memecoins Are Leading Crypto Gains Tuesday Morning

Memecoins led cryptocurrency market gains Tuesday morning, as Bitcoin BTC/USD regained $110,000 in an overnight surge.

What happened: Dogwifhat popped over 16% to become the most successful cryptocurrency in the last 24 hours. The Solana SOL/USD-based token's trading volume soared 132% to $588.66 million. The rally helped WIF erase its weekly losses.

The cryptocurrency's Open Interest lifted 18.84% in the last 24 hours, according to Coinglass. Additionally, over 62% of Binance derivatives traders with an open WIF position placed bullish bets on the memecoin, according to the Long/Short ratio.

Meanwhile, the Relative Strength Index, used to determine if the asset is overbought or oversold, flashed a “Neutral” signal for the coin, according to TradingView. The Bull Bear Power Indicator also gave a "Neutral" reading.

Cryptocurrency	24-Hour Gains +/-	Price (Recorded at 4:22 a.m. ET)
Dogwifhat WIF/USD	+16.32%	$1.03
Fartcoin (FARTCOIN)	+14.94%	$1.23

Fartcoin, another Solana-based memecoin, jumped nearly 15% to become the third-biggest cryptocurrency gainer in the last 24 hours.. Trading volume jumped 73% to $256.5 million, suggesting high liquidity and investor preference.

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The frivolously named cryptocurrency registered a 14.86% jump in 24-hour Open Interest, sailing to an all-time high of $721.70 million.

Both WIF and FARTCOIN outgained meme heavyweights, such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD could only gain 5.06% and 4.20%. respectively, over the previous day.

The memecoin upsurge followed Bitcoin's sharp rally on Monday, where it spiked above $110,000 after a two-week gap. This surge followed trade talks between the U.S. and Chinese officials, which could have stoked investor optimism.

Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading

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