The crypto industry is witnessing a brief recovery, with the global cryptocurrency market cap increasing by 2.7% to $2.3 trillion. This improvement follows a period of significant downside pressure that affected major cryptocurrencies.
Bitcoin, as the leading cryptocurrency, has experienced bearish pressure, which has also impacted Ethereum. Despite these challenges, the overall market sentiment remains neutral, standing at 50 on the sentiment index.
Amidst these conditions, the focus has turned to meme coins, which are speculated to possibly experience a breakout following the US elections. The recovery in the market and the neutral sentiment present an interesting landscape for meme coins to potentially perform better.
