Mogcoin (MOG) and Popcat (POPCAT) have both risen over 10% in the past 24 hours.
At the same time, the Crypto All Stars (STARS) ICO created a lot of buzz, passing the $2 million funding milestone.
Mogcoin and PopCat lead the “Catcoin” rally
Mogcoin, the lesser known of the two coins, surprised everyone with a 17% increase since yesterday.
MOG is currently at $0.00000169, its highest since August 1st.
This continues the coin’s strong upward trend that began in early September, with MOG up a massive 142% in the last month.
Given its relatively low market capitalization, more traders are showing interest, and the bullish momentum appears to be undiminished.
Not to be outdone, Popcat has also been steadily making profits.
The coin rose 11% to $1.41, giving it a market cap of over $1.3 billion.
Demand for POPCAT has skyrocketed, with trading volume increasing 117% since Sunday to $184 million.
POPCAT’s open interest also increased by 11%.
As two of the most well-known names in the “catcoin” space, the meteoric rise of MOG and POPCAT has helped draw attention to this niche market.
That seems to be helping, with smaller coins like MEW and MICHI also rising significantly.
Cryptocurrency market rises on bullish US jobs report
But it’s not just cat coins that are green.
The overall crypto market is also doing well, with Bitcoin above $63,000, Ethereum heading toward $2,500, and Solana nearing $150.
But the biggest winner was Sui, up 14% from yesterday.
Overall, cryptocurrency trading volume increased by 75% in the past 24 hours as this market rally pushed almost every coin and token higher.
So what is driving this bullishness?
Many traders are pointing to last Friday’s surprisingly strong US jobs report.
Economic growth led to 254,000 jobs added in September, far more than the 140,000 expected.
In addition, the unemployment rate fell to 4.1%.
The combination of these factors has allayed concerns that the recession could still persist.
And that gave investors the confidence to invest in riskier assets like cryptocurrencies again.
Moreover, there is still room for two more rate cuts before the end of the year.
If the Fed cuts interest rates again, it could further boost investor sentiment and encourage more investment in meme coins.
Crypto All Stars passes $2 million in ICO & prepares to launch groundbreaking “MemeVault” feature
This broad market bullishness creates an ideal environment for crypto all-stars.
As the first unified staking protocol for meme coins, Crypto All-Stars has surpassed $2 million in its ongoing ICO.
The developers aim to shake things up by allowing memecoin holders to earn passive income from their assets.
At launch, MemeVault will support 11 popular coins.
This means that these previously useless coins now have utility and can help retail traders maximize their profits.
What makes MemeVault so appealing is that it uses the ERC-1155 standard.
This means it can handle meme coins from Ethereum, Solana, Avalanche, Base, and other top chains.
Additionally, there is also a secondary staking protocol for the native STARS token.
STARS holders can lock up their tokens and generate 714% APY.
No wonder over 1 billion STARS tokens have already been staked while the ICO is still being held.
The rising star looks poised for a strong launch in the coming weeks as the crypto market gains momentum.
Top cryptocurrency YouTuber Cryptowire believes it will.
In a recent video, he mentioned the “huge benefits” that STARS holders can get through the MemeVault feature.
These factors combine to make things look good for Crypto All-Stars.
Some investors even believe that once the ICO ends and STARS hits the public market, it could explode like MOG or POPCAT.
Access the Crypto All Star ICO
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