Memecoins Surge as Bitcoin Rebounds, But Lack Inherent Value
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Pepe coin, a memecoin themed after a cartoon frog, has surged 57% in the past week as Bitcoin rose above $35k.
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Other memecoins like Dogecoin and Shiba Inu also saw double-digit gains as crypto prices rebounded.
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Memecoin traders have become more vocal online, boasting about gains as activity picks up.
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If Bitcoin's rally continues, memecoins could rise in its slipstream, but are risky due to little inherent value.
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Renewed memecoin interest comes as investors anticipate SEC approval of a Bitcoin spot ETF.