Bitcoin and Ethereum Price Soar as CPI Inflation Cools, These Meme Coins Are About to Explode

A IPC dovish print on Wednesday appears to have kicked off the second leg of the crypto bull market.

Bitcoin price reached a May high of $66,500 during Thursday’s Asian trading session. Meanwhile, Ethereum price traded as high as $3,040, reflecting the bullish stance of large-cap altcoins.

AI Cryptocurrencies such as Near Protocol, The Graph and meme coins like Shiba Inu and Book of Memes were among some of today’s biggest crypto earners.

New meme coins like WienerAI It is Dogeverse They are also highly sought after, as the cooling of CPI inflation is resulting in a greater degree of risk-taking.

Bitcoin, Ethereum Rally – Is the Bull Market Back?

Wednesday’s CPI emerged as a huge win for bullish investors, with close to $50 million worth of short positions being liquidated in the last 24 hours.

Fed Chairman Jerome Powell already took a dovish stance during his FOMC speech earlier this month. Now, with the month’s headline CPI surpassing consensus and core CPI cooling for the first time in six months, the buzz around interest rate cuts is back in the market.

While the CME FedWatch The tool is still pricing in just 2 rate cuts in 2024, analysts believe the peaceful change in Fed stance is enough for a “boom for stocks and crypto.”

Cryptocurrency prices have in fact surpassed crucial resistance levels, signaling that the second leg of the bull market may now be underway.

For example, BTC is now trading above the important $64,400 level. A daily close above it could result in a run towards a new all-time high.

Ethereum price also formed a bullish scenario. A weekly close above the breakout level has an impressive long-term price target of $10,000.

Could New Meme Coins in High Demand, Dogeverse and WienerAI Deliver 100x Returns?

Declining macroeconomic risk typically results in whales engaging in a high degree of risk-taking, a decidedly bullish outcome for meme coins.

Right on cue, tokens like Shiba Inu and Book of Memes are rallying, with the latter up 20% today.

New meme coins like WienerAI are also showing strength. $WAI is quickly approaching the $2 million mark in its pre-sale, with experts signaling that it will potentially be the next 100x meme coin.

In addition to WienerAI’s memorable mascot – a part-sausage, part-dog hybrid – the meme coin also offers an important real-world utility.

The WienerAI trading bot is a key aspect of the token’s brand value. It offers valuable insights into the crypto market, allows seamless exchanges, and offers MEV protection. Additionally, the $WAI staking protocol offers high annualized yields, currently over 500%.

Meme coins with real-world utility are always in high demand. Another example is the multichain meme token Dogeverse, which is the first meme coin to be launched on 6 different blockchains. Chains include Ethereum, Base, Solana, Polygon, Avalanche and BNB Chain.

Dogeverse has currently raised over $15 million in its pre-sale with the expectation that it will launch on all popular DEX and CEX in each of the 6 blockchain ecosystems.

Similar to WienerAI, Dogeverse is being seen by experts as potentially the next 100x meme coin.

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