Was that the Bitcoin bottom and memecoins for cats are trending

Bitcoin has been refusing to break through the $60,000 floor for months, and is headed higher again since this weekend. Was this the bottom or should we look even lower? Some well-known Americans think we will go lower and hope to swoop in then. A good strategy?

Memecoins for cat lovers are now the latest trend on social media. We discuss two.

Bitcoin bottom

Several influencers expect a final dip of the Bitcoin price before we start looking up and aim for a new all-time high. Dave Portnoy, a well-known American influencer with millions of followers on social media, promised to invest money from his companies in Bitcoin if it dips below $50,000 in the coming weeks

I already personally own #Bitcoin but if it dips down into the 40s I’m planning to buy $5-10m of Bitcoin with Barstool money #DDTG pic.twitter.com/nkrdPf7y6s

— Dave Portnoy (@stoolpresidente) June 28, 2024

Michael Dell, who is one of the richest people in the world, also gave hints in recent days that he is willing to purchase Bitcoin in large quantities. They’re probably both waiting for a Bitcoin downtrend to step in, but right now analysts aren’t sure that downtrend will even happen. Perhaps $60,000 really is the new support level.

I have a feeling that Michael Dell is about to go all in with $100 billion in #Bitcoin

Billionaires are coming 🚀 pic.twitter.com/1rEIVkBAwA

— Vivek⚡️ (@Vivek4real_) June 28, 2024

In any case, today is the start of the third quarter and the first days will provide a clear indication of the direction the largest cryptocurrency will take.

Mogcoin and Popcat

2024 has been a very good year for memecoins so far. After Bitcoin’s rise dominated the first quarter of the year, the second quarter was mainly one for Pepe, Dogwifhat, Bonk and Shiba Inu. Dogecoin is also holding up bravely. In the last month, the ‘PolitiFi’ (political finance) coins were gaining importance, such as BODEN and TRUMP.

Summer seems to bring a new category of memecoins, namely those with an image of a cat. ‘Catcoins’ are trending on social media and in the past month some of them increased by more than 50% in price. The most important two at the moment are Mog Coin (MOG) and Popcat (POPCAT).

As always, we cannot decide whether investing in memecoins is smart, but it is certain that they can be very volatile, so beware. Their popularity mainly depends on the following they can attract on social media and any push from influencers.