This week, the cryptocurrency market experienced a 'roller coaster' trend, with Bitcoin encountering a pullback after reaching a historical high, most altcoins facing widespread declines, while a few tokens and emerging meme coins strengthened against the trend, injecting different vitality into the market.
#Bitcoin: After hitting a new high, it faces a pullback, but the impact of the meeting is limited
Bitcoin showed strong performance at the start of the week. On Monday, its price skyrocketed from $119,000, breaking through several-week highs to above $122,000, with the market briefly expecting it to challenge historical peaks. However, bears stepped in at this moment to suppress it, preventing Bitcoin from breaking through the previous high of $123,200.
After a brief adjustment, Bitcoin resumed its upward trend on Wednesday, successfully breaking through the July peak. On Thursday morning, its price soared to $124,500, setting a new historical high. However, this surge could not be sustained, as Bitcoin not only failed to surpass the $125,000 mark but also quickly retreated to $121,000. Subsequently, influenced by better-than-expected PPI data for July, it further dropped below $118,000 on that day.
On Friday evening, the much-anticipated meeting between Trump and Putin took place. The market initially expected discussions to potentially trigger greater volatility, especially against the backdrop of a ceasefire topic between Russia and Ukraine. However, no agreement was reached, and Bitcoin prices remained relatively stable, closing around $117,500. Currently, Bitcoin's market cap on CoinGecko has dropped to $2.34 trillion, with its dominance over altcoins nearing 58%.
#Altcoins are broadly down, #MNT stands out
In contrast to Bitcoin's relative stability, altcoins have encountered significant pullbacks over the past 24 hours. Ethereum's previous rebound momentum was impressive, having surged to nearly $4,800 just days ago, just a step away from the historical peak in 2021. However, due to the overall market pullback, Ethereum failed to break through critical levels, with its price declining for five consecutive days, dropping below $4,500.
Other large-cap altcoins also did not escape the downturn, with tokens like SOL, LINK, AVAX, SUI, and HYPE falling between 3% to 7%. However, MNT became an 'outlier' among altcoins, surging over 10%, currently trading at $1.20, standing out in a generally declining market. Influenced by the pullback in mainstream altcoins, the total cryptocurrency market cap shrank by $80 billion overnight, currently down to $4.05 trillion.
#MemeCoin wave resurges, #KIKICat becomes a potential new star
As mainstream coins adjust, the meme coin market is revitalized by the popularity of cat-themed tokens, with strong community power becoming the core driving force behind the activity in this field. WikiCat and KeyboardCat have both experienced significant surges, while KIKICat, traded on the KIKI Ticker platform, is being regarded as the next potential explosive token by the market. Although KIKICat is not an Ethereum token, the strong momentum and bullish sentiment of the Ethereum market are gradually spreading to this type of meme coin, attracting more attention.
#Ethereum is a strong driver
Recently, Ethereum has reached an all-time high driven by multiple factors, including institutional capital inflows, continuous ETF momentum, and an optimistic regulatory environment. The rise of Ethereum has not only ignited optimism across the entire cryptocurrency sector but also shifted funds toward high-risk, high-reward trading varieties. Among them, meme coins with a strong community base have particularly benefited from this wave of sentiment, making tokens like KIKICat more attractive to speculative capital.
KIKICat's technology and community signals are positive
Last week, KIKICat recorded double-digit gains, with its initial price trend resembling that of WikiCat before its surge. From a technical perspective, KIKICat's price is currently compressing within a symmetrical triangle pattern, which usually indicates a potential decisive breakout. Additionally, the MACD indicator has shown a bullish crossover, suggesting that buying momentum is building.
Community-driven efforts are also critical. Cryptocurrency traders on Telegram and X platforms have initiated coordinated promotional activities, keeping the discussion around KIKICat heated. Although it does not rely directly on the Ethereum network, KIKICat has significantly benefited from the bullish spillover effect of Ethereum, with many traders redirecting profits gained from mainstream coins to bet on these types of meme coins.
Currently, KIKICat's trading volume is steadily increasing, indicating that new capital is flowing in; the social discussion volume on X and Telegram is also continuously rising, closely aligning with the early speculative cycle characteristics seen before the rebounds of WikiCat and KeyboardCat. The synergy between the community and the market is often a precursor to significant volatility in such tokens.
Conclusion: The #CatCoin wave is not over, #KIKICat is worth noting
In the differentiated market this week, the cat-themed meme coin wave is particularly eye-catching. KIKICat, with its breakthrough signals from a technical standpoint, continuous growth in community strength, and market benefits brought by Ethereum's strength, is poised to become the main character of the next wave of cat coin trends.
However, it is important to note that the volatility of meme coins has always been amplified in both directions, with high returns accompanying high risks. For investors skilled at capturing momentum opportunities, KIKICat is undoubtedly a key asset worth focusing on in the recent crypto market.