Meme Coins Speedy and ApeCoin Witness Massive Surge
Two meme coins, Speedy and ApeCoin, have experienced significant price increases of over 100% in the past 24 hours. Speedy, a meme coin built on the Fantom blockchain by The GOAT Foundation, has seen remarkable growth, with a spike of over 150%. On the other hand, ApeCoin also surged by 105.0%, trading between $0.7393 and $1.66.
What Triggered the Surge?
The surge in Speedy is attributed to its rapid rise in market capitalization. Cryptocurrency observer Ben Crypto noted that investing in low-cap coins that have been trading for at least a week can yield substantial returns with minimal risk.
As for ApeCoin, the bullish momentum can be linked to the recent launch of ApeChain, a new Layer-3 blockchain. The introduction of ApeChain has provided holders of ApeCoin with additional features, such as earning native yield on APE, ETH, and stablecoins.
The Future Outlook
While both Speedy and ApeCoin have experienced remarkable growth, it remains to be seen whether they can sustain these levels in the volatile cryptocurrency market. Investors are advised to stay informed and exercise caution when trading meme coins.
