A decisive meme coin recovery is on the cards as crypto prices bounce back.
Popcat and Dogwifhat are amongst the top gainers. What could surge next?
Meme Coin Rally On Fed Rate Cut
The U.S. Federal Reserve voted on Wednesday to slash its benchmark lending rate by 50 basis points, and risk-on asset classes gained significantly in the aftermath.
Atypical to bullish periods, meme coins have outperformed the market.
CoinGecko data shows that the total crypto market cap is up 1.4% today, but the meme coin market cap is up 5%.
Popcat has been a strong performer, pumping by 5.1% in the past 24 hours. But it’s not just today. Popcat has also booked a whopping 39% increase in the past seven days.
The project is priced at $0.9091, has a $892 million market cap, and a $140 million 24-hour trading volume.
It now sits just 8.9% from its June all-time high.
Analysts think it will break this record in a few days.
Trader Travis is eyeing a potential 2x gain for the cat-themed Solana meme coin.
Meanwhile, X commentator Mattie suggests that a 5x rally is incoming, citing its recent strength as a reason.
Moving to Dogwifhat, it has also started to gather pace.
It’s currently trading at $1.79, up 7.8% today and 15.9% this week. It has a $1.7 billion market cap and a $601 million 24-hour trading volume.
Prominent Dogwifhat community member and early investor Unipcs say that WIF will soon undergo an “aggressive up move with zero pullbacks for entry.”
Meanwhile, Credible Chris suggests that Coinbase may look to list Dogwifhat and Popcat soon.
In recent weeks, there has been a notable sentiment shift on meme coins like Popcat and Dogwifhat.
Traders anticipate the next round of meme coin season, which could self-propagate into more liquidity and higher prices.
What are the best meme coins to buy now?
As the crypto market regains bullish momentum, traders will look to meme coins due to their increased volatility, which provides more gains in bullish periods.
Here are the five best meme coins to buy now.
Pepe Unchained
While categorically a meme coin, Pepe Unchained is far from your average joke token. The project is building the first Ethereum layer 2 blockchain for meme coins.
It’s a compelling concept that tackles Ethereum’s scalability issue head-on while embracing meme culture.
So, it’s no surprise that the project has seen staggering adoption. It’s currently undergoing a presale and has raised $14 million so far.
With such funding, the team has started issuing grants to developers to build in its ecosystem. This is a network effect building in front of our eyes.
The chain is expected to be cheaper and 100x faster than Ethereum while offering features like a block explorer, dedicated Ethereum bridge, and staking.
‘Pepe Chain’ will be a springboard for new meme coin projects. Developers could launch their own meme coins or even meme coin-related apps. For instance, we could see a meme coin-themed DeFi protocol or metaverse.
The Pepe Unchained presale is ongoing and currently priced at $0.00981.
Simon’s Cat
The performance of Popcat exhibits traders’ appetite for cat-themed joke tokens. Previously, it was all about frog and dog tokens, but now cat coins are shaking things up.
Simon’s Cat is another project that is causing a stir.
It is based on the Binance Smart Chain, which has a total value of $4.5 billion. Meanwhile, the market cap of BSC projects is well above $100 billion.
However, in this cycle, BSC has yet to have its own “killer” meme coin.
Simon’s Cat is in contention. Its trading volume is sky-high compared to similar-sized meme coins, and it has a strong community, with 110K followers on X alone.
In the last cycle, SafeMoon Inu launched on the Binance ecosystem and became one of the market’s top meme coins. This cycle’s BSC frontrunner awaits.
The current Simon’s Cat price is $0.00003931, up 12.5% today, 19% this week, and 74% this month.
Crypto All-Stars
With thousands of meme coins on the market, choosing the right ones to invest is challenging. This is why the Crypto All-Stars presale is having such success – think of the project as a meme coin index that offers exposure to all the top joke tokens.
So how does it work? It’s creating the first unified staking protocol for meme coins.
It’ll be called ‘MemeVault’ and support 11 of the top joke tokens, including Dogecoin, Shiba Inu, Pepe, Floki, Mog Coin, and more.
Users can generate passive rewards on their meme coins, but they must hold $STARS to do it.
This means that holders of all the top meme coins will be bidding on $STARS, so a strong meme coin market will inherently bolster the $STARS value.
Since it will handle a lot of funds, the team is taking security very seriously. Coinsult and Solid Proof have audited the project, and neither found any issues with its code.
The $STARS presale is ongoing and has raised $1.4 million so far.
Dogs
When it comes to adoption, Dogs is leading all meme coins – even Dogecoin. Despite this, it has a market cap that barely cuts the top ten.
Dogs is a Toncoin-native meme coin, and Toncoin is a Telegram-based blockchain. In effect, Telegrams’s 900 million users now have seamless access to Dogs, and the team was giving away tokens for free.
So what was the result? A staggering 17 million wallets claimed the Dogs airdrop this month, making it the most-held meme coin by far.
The objection to this would be that these wallets are value extractors, not contributing liquidity to the ecosystem. However, looking at Dogs’ trading volume to market cap ratio tells us that’s not the case.
The project has seen a staggering $390 million in 24-hour trading volume, which is higher than Bonk, Popcat, Brett, and Floki’s – and just $20 million shy of Shiba Inu’s.
Traders are interested in Dogs, and it has the biggest community of all meme coins. This is undoubtedly a strong foundation for success.
Memebet Token
If investing in meme coins wasn’t exciting enough, Memebet takes another step up the risk curve. They’re building a crypto casino that lets users wager their meme coins on Telegram and on a web app.
There will be thousands of casino games and sports events to gamble on and plenty of promotions to keep users engaged.
The Memebet token will be the platform’s lifeblood. It will unlock numerous exclusive features, like casino bonuses and a VIP community group. Moreover, it’ll provide access to Memebet’s “Lootboxes,” which are real-world gift packs containing NFTs, cash prizes, and signed Messi Argentina shirts.
Airdrops are another centerpiece feature, with users receiving tokens for free just by playing the casino.
Both meme coins and online gambling are two of crypto’s most degen-friendly use cases. Memebet Casino rolls them up into one project and offers investors exposure via a token presale.
The Memebet token presale has raised $250K so far. The current price is $0.0252, but this will rise in one day.
