Meme Coins Surge as Bitcoin Holds $64K

Bitcoin Edges Higher as Geopolitical Tensions Ease, Meme Coins Surge

Bitcoin saw a modest uptick on Saturday evening, climbing to $64,500 before experiencing a slight pullback. The cryptocurrency’s movement coincided with U.S. President Donald Trump’s decision to halt planned attacks on Iran, a development that appeared to ease geopolitical concerns.

Meanwhile, Shiba Inu has captured significant market attention, surging by over 35%. While most other large-cap altcoins also registered gains, their increases were more subdued.

The week began with a predictable dip for Bitcoin, which fell from $65,000 to $63,750 last Monday. However, the digital asset demonstrated resilience, defending the support level and recovering by $2,000 by the close of the day. Tuesday proved even more favorable, with Bitcoin reaching approximately $67,000 on some exchanges, marking a monthly high.

Having gained over $3,000 in just over 24 hours, Bitcoin appeared poised for a correction given the broader market conditions. It began to shed value gradually, dropping below $65,000 on Thursday. An attempted breakout on Friday was capped at $65,750, and the subsequent rejection sent the price down by $2,000.

However, bullish sentiment ultimately intervened, preventing further declines. Bitcoin showed renewed strength around the $64,000 mark on Saturday. The price then climbed to $64,500 later that day following President Trump’s directive for the U.S. military to stand down pending renewed talks between Iran and Oman.

Currently, Bitcoin is trading above $64,000, with its market capitalization returning to $1.290 trillion, according to CoinGecko. Bitcoin’s dominance over altcoins has also risen to nearly 57%.

In a notable resurgence of meme coin enthusiasm reminiscent of past years, Shiba Inu’s primary token has surged by over 35% today, reaching a two-month peak. PEPE is another significant gainer in the meme coin sector, up 9.6% daily and 26% over the past month. Dogecoin has seen a 5.8% increase, trading at $0.073. VVV has also joined the ranks of meme coin advancers, jumping 12% to $14.5, while AVAX has gained 9%.

Other large-cap altcoins have experienced more modest gains. Ethereum is approaching $1,900 after a 1.5% rise, XRP has returned to $1.10, and HYPE is up 2.5% but remains below $60. ZEC and CC are also trading in positive territory.

The total cryptocurrency market capitalization has seen a slight increase since yesterday but remains below $2.3 trillion, according to CoinGecko.