WIF, PEPE, and SEI shine as cryptocurrencies surge

• WIF, PEPE and SEI have been amongst prime performing altcoins as Bitcoin surged to above $63,800 on Sept. 19.
• These good points adopted US Federal Reserve’s 0.5% rate of interest minimize.
• Analyst says WIF might outpace market in coming weeks.

Meme cash dogwifhat (WIF) and Pepe (PEPE), in addition to layer 1 blockchain Sei (SEI) are among the many prime gainers prior to now 24 hours as a number of altcoins report their finest performances for some time.

SEI was up 19%, WIF 17% and PEPE 12% as crypto rose amid Bitcoin’s surge to above $63,000 on Thursday.

In line with knowledge from CoinGecko, SEI value reached highs of $0.35 as its quantity jumped 224% to over $345 million. In the meantime, WIF traded to $1.81 throughout main exchanges, notching an intraday quantity of over $717 million with a 24-hour improve of 109% on the time of writing.

Popcat (POPCAT), which has rallied since Kraken introduced spot buying and selling assist, continued to outpace all different prime 100 cash by market cap. Nevertheless, meme coin Pepe additionally recorded respectable good points to rank amongst finest performers on the day. PEPE value jumped greater than 12% to hit ranges final seen on Aug. 28.

In line with crypto analyst RookieXBT, dogwifhat value has the potential to pare losses seen throughout its latest downtrend inside weeks. Notably, the analyst additionally sees additional good points for POPCAT.

$WIF going to erase six months price of downtrend in 2-3 weeks however you wouldn’t imagine it$POPCAT will reprice additional and change into the fifth largest meme however you wouldn’t imagine it

imagine in one thing

— RookieXBT 🧲 (@RookieXBT) September 19, 2024

Crypto spikes after Fed rate of interest minimize

Many of the cash seeing vital good points prior to now 24 hours are registering the upside after the market reacted upward to the US Federal Reserve’s rate of interest minimize on Sept. 18. After 4 years, the Fed slashed rates of interest by 50 foundation factors on Wednesday.

Bitcoin value rocketed after the choice, with BTC first breaking above $60k to bolster total sentiment. Costs retested resistance round $62.2k earlier than a slight dip – then roared again to above $63.8k.

Solana (SOL) broke above $143 with over 10% good points, whereas altcoins reminiscent of Sui, Aptos, Bittensor and Avalanche recorded greater than 12% respectively.