The total crypto market cap (TOTAL) bounced back despite the declining hopes of recovery, adding over $100 billion in the last 24 hours. Bitcoin’s (BTC) price also enjoyed considerable gains, with the price crossing the $62,000 mark after two weeks. The altcoin that noted the highest gains of the day, however, is a meme coin called Mog Coin (MOG), which shot up by 30%.
In the news today:-
The recent attack on former US president Donal Trump resulted in Trump-associated tokens noting rallies. Altcoin MAGA rallied by more than 34% in the span of a day following the attack.
South Korea will likely push crypto income taxation to 2028 from 2025. Per the latest reports, the ruling party is considering the pushback in order to prevent investors from exiting the crypto market.
The Crypto Market Makes a Jump
The total crypto market cap is doing better than the market expected it to in the last 24 hours. TOTAL added more than $100 billion within this period, bringing the cap to $2.25 trillion, up from $2.09 trillion three days ago.
While the rise helped the market recover all the losses from the early July crash, there is still room for growth. The recent attack on US Presidential Candidate Donald Trump happened to be the catalyst for the rally.
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Thus, with the ongoing political developments in the US, this momentum could continue, potentially pushing TOTAL to $2.30 trillion.
Bitcoin’s Price Recovers
Bitcoin’s price is back above $60,000 after spending days under this key level owing to the recent crash. The rise over the past three days pushed the crypto asset up from $58,000 to $62,800 at the time of writing.
This recovery also helped BTC invalidate the bearish double-top pattern noted over the past three months. The pattern had suggested a drawdown with a target price of $50,982, but Bitcoin stopped at $53,800.
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If the support of $61,500 is maintained by Bitcoin’s price, the crypto asset could continue its rise. This could help BTC potentially cross the $65,000 threshold and rally further.
Mog Coin Takes the Lead
Meme coin Mog Coin emerged as the best-performing asset over the last 24 hours, rising by 12% during the intra-day trading hours today. The cryptocurrency is not among the most popular assets in the world; nevertheless, it made it into the top 100 crypto tokens list.
At the time of writing, this meme coin can be seen changing hands at $0.000002149, with the intra-day highs nearly pushing MOG to $0.000002200.
Read More: What Are Meme Coins?
Generally, meme coins like Mog Coin fizzle out before cementing their growth; whether the same happens to this crypto token is yet to be seen.
Disclaimer
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