US Inflation at 2.5% with rate cut set for 18 September as memecoin Monkeyhaircut ($MONK) holds $1.8mn floor amid growing resurgence for speculative assets

The rate cut will reduce borrowing costs, making speculative assets such as alt coins increasingly more attractive.

The federal reserves have had to delay their previous forecasts for rate cuts, which has in many ways stunted growth in the crypto markets, acting as a leading variable in the late market declines.

The main catalyst however, other than the bitcoin halving earlier this year, has always been the rate cuts, and marks the first cut in over 4 years. The sentiment will increasingly become more favourable for the crypto sector as the market eagerly awaits the next stage of the bull run. Late worries of a US recession have been diluted over recent weeks.

Monkeyhaircut ($MONK) has been strongly holding its floor, despite turbulence rocking the markets the last day, and typically sees bullish movement alongside gains in top Solana coins Dogwifhat ($WIF) and Popcat ($POPCAT).

Memecoin twitter player metaversejoji also tweeted to his 200k followers that he is expecting at least $50mn market cap for $MONK on the next bull run, having held the memecoin the most only second to $WIF, which ran to a peak of nearly $5 billion earlier this year.