Meme Coins on the Rise as Crypto Market Improves

Several meme coins are exploding in popularity right now. The crypto market is able to support a greater number of these joke coins as the wider market surges.

Brett (Based) (BRETT) is doing very well right now, having hit an all-time high at $0.1481 (BRETT/USD) today. The coin has climbed 28% in the last day, and this frog-themed coin is only the latest meme coin to skyrocket in popularity recently.

This coin has seen its market cap increase substantially as well, moving as high as $1.4 billion. What caused the price to spike? It is likely due to KuCoin deciding to bring to the platform the BRETT/USDT pairing. They started a giveaway as well to go along with the new trading pair initiative, and this contest grants winners 1,200,000 BRETT tokens.

A Growing Crypto Market

The cryptocurrency market is currently at a high point, with some coins seeing levels that are their highest for the year. Ethereum (ETH) in particular is doing well, closing in on its highest point in years as it nears $4,000 (ETH/USD).

Bitcoin (BTC) is approaching a record high as well, having recently passed $71,000 (BTC/USD). These coins are not climbing high and then losing their gains either. They are holding onto the ground they have claimed and remaining elevated.

Much of this can be attributed to spot ether ETFs gaining approval by the United States SEC, which could result in ETFs being available to the public in the next few weeks.

Several key economic indicators will be revealed this week, including natural gas storage data as well as reports from unemployment claims and revised figures for nonfarm productivity. Inflation remains high, keeping the Federal Reserve back from issuing interest rate cuts.

Meme Coins Are Taking Off

Major memories with real staying power have been doing well lately, like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). SHIB is up 4.87% for the month, and Dogecoin has gained 1.141 over the last week. Pepe has risen to #21 on the charts and is up 1.77% today.

Several political meme coins have made waves recently as well, which is to be expected in an election year where the competition is very heated and vocal. The MAGA (TRUMP) coin is up 169% for the month, and Joe Biden (BIDEN) has gained 277% over the last 30 days.