Popcat (POPCAT) and Dogs (DOGS) Are the Two Top-Gaining Tokens in the 100 Largest Cryptocurrencies by Market Cap as Bitcoin (BTC) Price Climbs Back Above $56,000

The meme coins Popcat (POPCAT) and Dogs (DOGS) traded at $0.62 and $0.0011, with 19% and 16% in 24-hour gains respectively at the time of writing.

Two meme coins — Popcat (POPCAT) and Dogs (DOGS) — are among the top gainers within the 100 largest cryptocurrencies by market capitalization as BTC price recovers to above $56,000.

At the time of writing, meme coins like Popcat and Dogs are valued at $0.62 and $0.0011, respectively, showing 19% and 16% in 24-hour gains. Meanwhile, upside momentum had pushed Bitcoin (BTC) price above $56,500 as bulls attempt to recover from the recent dip that saw the primary digital asset trade near $53,300 on Sept. 7.

Binance listing helps propel POPCAT, DOGS higher

In recent weeks, most meme coins have struggled to gain upward momentum, largely as the broader market faced dwindling enthusiasm throughout August.

Yet, Solana(SOL)-based Popcat and Telegram-related Dogs, among several other small cap tokens, have benefited from a rush of positive sentiment following crucial futures trading support across major exchanges.

Binance recently added POPCAT perpetual contracts, enabling traders to bet on the meme coin’s price. This move prompted a spike in Popcat’s price. Additionally, OKX listed POPCAT futures and outlined a trading competition that offers up to $100 in rewards.

Meanwhile, having slipped amid the recent arrest of Telegram CEO Pavel Durov, DOGS has recovered some of the losses it incurred after dropping to $0.0009 on Sept. 8. Previously, the Telegram-native meme coin enjoyed a rally thanks to Binance’s offering of 40 million DOGS in a contest that concludes on Sept. 17.

Binance, OKX and Bybit are among the top exchanges that have supported the DOGS airdrop and token listing.

Bitcoin price recovers above $56K

Bitcoin’s recovery to above $56,500 comes amid a bounce in the Coinbase Premium Index, a metric that indicates increased whale and institutional accumulation of BTC.

A recovery in U.S. demand may help propel bulls to reposition for a stronger end to the fourth quarter. According to analysts at CryptoQuant, the continuous accumulation by long-term holders is crucial for a potential price bounce.

On Sept. 9, Bernstein analysts issued a note that predicts a surge to $80k-$90k for BTC if Donald Trump wins the U.S. presidential election.

However, they suggest that a win for Kamala Harris could trigger downside action, potentially pushing BTC to lows of $30,000. The contrast is reportedly due to the crypto industry’s perception of Trump as being more crypto-friendly compared to Harris.

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