Meme Coins Surge: Three Top $1M Market Cap in 24 Hours

In the past 24 hours, only three meme coins have managed to reach a market capitalization of over $1 million, according to data from pump.fun. This significant milestone highlights the growing influence and popularity of meme coins in the cryptocurrency market.

The first meme coin to reach this milestone is Dogecoin (DOGE), which has seen a surge in popularity due to its association with Elon Musk and other high-profile figures. The second meme coin to reach this milestone is Shiba Inu (SHIB), which has also gained significant attention and investment from the cryptocurrency community. The third meme coin to reach this milestone is SafeMoon (SAFEMOON), which has a unique tokenomics model that has attracted investors.

In other news, a whale known as "7 Siblings" has spent 28.75 million DAI to buy 12,070 ETH after a market dip. This significant purchase indicates that some investors are taking advantage of the current market conditions to accumulate more ETH. Additionally, Bybit has bought an additional 36,893 ETH via OTC, further indicating the growing demand for ETH.

In a separate development, an address holding 12.61 cbBTC has been liquidated, with a value of approximately $1.11 million. This liquidation highlights the volatility of the cryptocurrency market and the risks associated with leveraged trading. SlowMist has also reported that the Bybit attacker has used THORChain to transfer over 70,000 ETH to the Bitcoin network, indicating that the attacker is still active and attempting to launder their stolen funds.

The growing popularity of meme coins and the increasing demand for ETH indicate that the cryptocurrency market is still in a bullish phase. However, the liquidation of a large BTC position and the ongoing efforts of the Bybit attacker serve as a reminder that the market is still volatile and risky. Investors should continue to exercise caution and do their own research before making any investment decisions.