“Memecoins are experiencing a surge largely due to the anticipation of increased liquidity following the Federal Reserve’s recent 0.5% interest rate cut,” Alex Andryunin, founder of Gotbit Hedge Fund, known for backing memecoinds, said in a message to CoinDesk. “Market expectations for lower rates have converged, and with the prospect of more liquidity entering the financial system, investors are adopting a bullish sentiment.”
Read the full article here