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Solana (SOL), Avalanche (AVAX) and Injective (INJ) are up more than 20% in the past 24 hours as the meme coin trading fever on these networks extends into its third week.
Solana's SOL rose 8% while Avalanche's AVAX added nearly 12% before falling back slightly. Dog-themed tokens Dogwifhat (WIF) and Bonk (BONK) trended on Solana, while hen-themed Coq Inu (COQ) led the meme coin trend on Avalanche, up more than 40% in the past 24 hours .
Meanwhile, Bitcoin (BTC) neared $43,000 as hopes surrounding the expected January approval of a Bitcoin exchange-traded fund (ETF) in the United States got a boost late Monday (January 18). 12), as traditional financial firm BlackRock revised its proposal.
Some information highlights that the market shows no signs of correction in the short term. The correction is typically considered a decrease of 10% to 20%.
Alex Kuptsikevich, senior market analyst at FxPro shares:
“Bitcoin has formed a double bottom on the intraday chart and this momentum suggests that deeper correction sentiment has not materialized.”
“On the other hand, Tuesday's high was close to last Thursday's, keeping Bitcoin within this range. Average fees on the Bitcoin network peaked at $37, the highest of the year. The growth is driven by another wave of activity in the Ordinals segment, increasing demand for space in the blockchain and thus increasing BTC demand.”
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