There is only one answer to the question raised in the title of this article. Market risk has revived appetite.
A sample of this is the performance of the top 100 market capitalizations out of five cryptocurrencies and tokens. There are penguins, two dogs, and even “tokenized farts.”.
The fact that investors put money in Memecoin with the aim of generating extraordinary returns is a product that has a positive signal in the market.
Among them is a high fire in the Middle East, with Donald Trump extending tariff suspensions and the increased chances of the U.S. Federal Reserve easing monetary policy and cutting interest rates.
In this regard, Pudgy Penguins Memecoins (Pengu), Bonk (Bonk), Fartcoin (Fartcoin), Dogwifhat (WIF) They positioned themselves as a digital asset that gained impulses and improved weekly performanceas seen in the following image provided by Coinmarketcap. No. 5 is occupied by Jupiter (Jup), the token of Solana Red’s Decentralized Exchange (DEX).
The governance token of the NFT Pudgy Penguins Collection has recorded a recent rise of over 70%. This allows you to position yourself as an asset with the highest performance each week. As Cryptonoticia reports, another reason for this price rebound is that on June 25th, CBOE BZX presented the 19B-4 form before the U.S. Stock Exchange and Securities Commission (SEC) and listed the bottom cited in the Stock Market (ETF) based on PENGU.
In addition to the announcement of the ETF, NFT trading on Ethereum has reached unseen levels for three years. Pengu operates in Solana, but the collection was born in a network created by Vitalik Buterin, so this rebound also promotes expectations about its ecosystem.
This news cluster and return of appetite for risk promoted the pen price up to $0.016.
When it comes to Bonk, Fartcoin and Wif, their good performance Does not respond to technical foundations or related newsbut speculation and coins created to make them viral, appealing to humor and active community participation.
Another issue to keep in mind is that the good performance of these memokines and JUPs occurs in the preferred context of Solana, the network on which these assets operate.
The most important novelty of this ecosystem is that he made his debut yesterday, July 2nd, with the Chicago Options (CBOE). On the first day, the financial product had a trade volume of $33 million.
The launch of this product is not directly linked to memokine, This type of news tends to produce contagious effects For other assets associated with the same network.