The question raised in the title of this article has only one answer: the appetite was revived for the market risk.
A sample of this is that, among the five cryptocurrencies and tokens with better weekly performance within the top 100 market capitalization, There is a penguin, two dogs and even a “tokenized fart”.
The fact that investors are placing their money in Memecoins with the aim of generating extraordinary returns, is the product that there are positive signals in the market.
Among them are the high fire in the Middle East, the possibility that Donald Trump extends the suspension of tariffs and the increase in the chances of the United States Federal Reserve (Fed) relaxing its monetary policy and applying a cut in interest rates.
In this context, the Pudgy Penguins Memecoins (Pengu), Bonk (Bonk), Fartcoin (Fartcoin) and Dogwifhat (WIF) They won impulse and positioned themselves as digital assets with better weekly performanceas seen in the following image provided by Coinmarketcap. The fifth place is occupied by Jupiter (JUP), the Token of a Decentralized Exchange (Dex) of the Solana Red.
The governance token of the NFT Pudgy Penguins collection records a rise greater than 70% in recent days, a performance that allows it to position itself as the asset with the best weekly performance. As Cryptonoticia has reported, another reasons behind this price rebound is that, on June 25, CBOE BZX presented a 19B-4 form before the United States Stock Exchange and Securities Commission (SEC) to list a bottom quoted in the stock market (ETF) based on Pengu.
In addition to the announcement of the ETF, NFT trading in Ethereum has reached a level not seen for 3 years. Although Pengu operates in Solana, the collection was born in the network created by Vitalik Buterin, so this rebound also promotes expectations about its ecosystem.
This news cluster and the return of the appetite for the risk, promoted the price of Pengu up to 0.016 dollars.
As for Bonk, Fartcoin and Wif, their good performance does not respond to technical foundations or relevant newsbut to speculation and the fact that they are coins created to viralize, appealing to humor and the participation of active communities.
Another issue to keep in mind is that the good performance of these memecoins and that of JUP occurs in a favorable context for Solana, the network in which these assets operate.
The most important novelty for this ecosystem is that yesterday, July 2, he debuted in the Chicago options (CBOE), the ETF of Solana (Sun) with Staking. On its first day, this financial instrument had a volume of trade of 33 million dollars.
While the launch of this product is not directly linked to memecoins, This type of news tends to generate a contagion effect on other assets associated with the same network.
