Bitcoin soars, will memecoins follow suit?

Bitcoin has been on a brilliant surge, reaching a new ATH of around $89,864. Although the price might have slumped slightly since then, it still has a thrilling 30% surge over the past seven days and 102% surge in 2024, while expectations are rife that its price could rise significantly higher before the end of 2024.

Historically, whenever the world’s biggest cryptocurrency is on a tear as this, the market comes alive. While this has also applied in this current surge, memecoin enthusiasts will be keen to witness exponential pump orchestrated by the Bitcoin’s happy mood.

For a good part of the year, memecoins have garnered the most attention particularly within Solana and Ton ecosystems, if memecoin market will witness a major rally, then these ecosystems will surely be on the forefront. With this likelihood, all eyes seems to be fixated on PNUT, a meme token on Solana Blockchain.

The token pays homage to Late PNUT, a social media sensation squirrel rescued in 2017 by Mark Longo after its mother was killed by a car in New York City. Backed by Beeple, Elon Musk, Doge, Wif, and Justin Sun; PNUT successfully launched on Bitget where its volume is on the rise.
Bitcoin soars, could PNUT and other meme gaints respond accordingly?