Ethereum has just set a new price record of nearly $5,000. The sudden bullish momentum was caused by Jerome Powell’s speech that hinted at a new interest rate cut coming in September, allowing Ethereum to surpass its previous ATH set in November 2021.
Naturally, the gains triggered a sell-off, so ETH is currently down by nearly 3% in the past 24 hours, trading at $4,603. However, once profit-taking calms down, the Ethereum price is likely to bounce back, potentially surpassing the elusive $5,000 mark. On a broader scale, such an outcome could across the entire cryptocurrency market, especially the meme coin sector, which is known for its volatile price movements and sudden price surges.
With the altcoin season on the horizon, finding the best meme coins before the surge kicks off is essential if you want to maximize your profits. So, let’s dive deeper and cover the top five meme coins gaining strong momentum ahead of the impending interest rate cuts in September.