Uptober FOMO Drives Top Meme Coins Higher Amid Strong NFP Data

Saturday, 5 October 2024, 01:48

Uptober excitement is building as strong NFP data from September boosts the crypto market. With Bitcoin rising over 3%, top meme coins are also rallying, led by Popcat.
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Uptober FOMO Drives Top Meme Coins Higher Amid Strong NFP Data

Uptober FOMO: Strong Employment Data Fuels Crypto Enthusiasm

The crypto market sentiment is experiencing a bullish surge following the impressive Nonfarm Payroll (NFP) report for September, showing significant job growth.

Crypto Market Reaction to NFP Report

In September, the US economy added 254,000 jobs, greatly exceeding the predicted 147,000. This strong employment data has lessened fears regarding a potential recession.

  • Unemployment rate fell to 4.1%
  • Bitcoin price surged over 3%, reaching up to $62,500

Top Meme Coins Lead the Charge

Once again, meme coins are dominating the gainers list with impressive increases. Popcat has reached a new all-time high of $1.18, posting gains approaching 20%.

  1. Popcat forecasted to replicate Dogwifhat’s success
  2. Dogwifhat anticipated to continue its bullish trajectory

Future Prospects and Market Correlations

The correlation between meme coins and Bitcoin remains high. Future movements in these coins might hinge on Bitcoin’s performance against the $63,000 resistance level.

Potential lies in new low-cap meme tokens like Pepe Unchained, particularly those disconnected from broader market trends.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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