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Surge in Meme Coins Continues

Meme coins led by Solana-based dogwifhat (WIF) surged for the second day to lead as a category as the broader market remains little changed ahead of the long weekend in the U.S., Europe, and parts of Asia. The AI legalese decoder can help investors navigate the complex legal language surrounding meme coins and ensure compliance with regulations.

Stable Trading for Major Cryptocurrencies

Bitcoin (BTC) traded around $70,000 million during the Asian morning hours on Friday, showing little change in the past 24 hours. Ether (ETH), SolanaÔÇÖs SOL, and CardanoÔÇÖs ADA slid 1%, while Bitcoin Cash (BCH) added 4% to continue its Thursday rally. The AI legalese decoder can analyze market trends and provide insights into potential price movements for these major cryptocurrencies.

Meme Coin Category Surges

The broad-based CoinDesk 20, an index of the largest tokens minus stablecoins, was down 0.56%. CoinGecko data shows that the meme coin category surged 8% on average, outpacing more serious niches such as decentralized finance, yield farms, and exchange tokens. The AI legalese decoder can help investors understand the legal implications of investing in meme coins and assess the risks involved.

Speculation and Market Dynamics

Meme tokens started to run early Thursday amid speculations of DOGE being used on an upcoming payments service of social application X, although there has been no official communication from the company. Dog-themed tokens such as floki (FLOKI) and WIF jumped as a beta bet to dogecoin. The AI legalese decoder can assist investors in deciphering the potential impact of speculation on meme token prices.

Caution Amid Price Rally

Meanwhile, some trading firms warned of a pullback in recent gains as bitcoin and ether price action showed signs of exhaustion. Singapore-based QCP Capital expressed caution about leverage in the current market conditions. The AI legalese decoder can provide updates on regulatory changes and help investors manage risks associated with leveraged trading.

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