The meme crypto sector recorded a recovery session on Thursday after witnessing the week full of turbulence and sell offs. Pepe (PEPE) led the charge by gaining over 15% in the last 24 hours helping the other meme coins to print green indexes. The cumulative meme crypto cap depicted a gain of around 6% over the last day to stand at $45.7 billion.
PEPE leads the rally
The pickup rally comes in after Federal Reserve Chair Jerome Powell’s Wednesday remarks. It sparked a sense of joy among Wall Street traders. US stocks soared during the largest post policy meeting since December, on the other side, Treasury yields plummeted across the board.
This helped the crypto market to recover from the recent dump. PEPE turns out to be the leading gain holder in the meme category. PEPE price jumped by more than 15% in the flash surge, spreading positive sentiments in the market. This surge has helped PEPE to wipe out the plunge, still, it is down by 4% in the last 7 days.
Pepe is flashing green index in the 90 days metrics with a 656% gain. It is trading at an average price of $0.000007, at the press time. Its 24 hour trading volume is up by 7% to stand at $1.04 billion. Pepe is holding a market cap of around $3 billion.
WIF is not behind
The new trending meme coin in the market, dogwifhat (WIF) also resumed the gain rally. WIF price surged by 14% in the last 24 hours. The surge comes in when the crypto is down by 28% over the last 30 days. WIF is trading at an average price of $2.65, at the press time.
It is important to note that WIF has gained more than 1100% over the last 90 days and the recent slump can be seen as a minor correction. WIF is trading at an average price of $2.65, at the press time. Its 24 hour trading volume is up by 7% to stand at $492 million. dogwifhat holds a market cap of $2.7 billion.
As reported, Powell’s assurance that interest-rate hikes were unlikely in the near future fueled the relief trade. However, the joy was short lived as he stopped short of suggesting rate cuts were imminent. This has cautioned that policymakers would need more time to scale the trajectory of inflation before considering easing measures.