Major meme coins like DOGE and SHIB face challenges despite their large market presence.
As investors begin to revive their appetite for risk, meme coins have seen a resurgence in activity. This past week, some meme coins achieved gains as high as 700%. The question remains: which meme coins attracted significant attention? And how do the major altcoins fare in this climate?
ContentsSpotlight on Lesser-Known CoinsMajor Meme Coins: DOGE, SHIB, and PEPE Spotlight on Lesser-Known Coins
Due to their relatively low market capitalization, meme coins posted substantial gains. The CREPE Token alone witnessed a staggering 762% increase this week. Despite a market value of 6.2 million dollars, its trading volume surpassed 4.7 million dollars. Priced at $0.00001084, this asset, launched on the BNB Chain, proves risky. It’s a new venture designed to scan and list profitable wallets, aiming to emulate successful trades for opportunities, but is available on only a few DeFi platforms.
Meanwhile, BITTY saw a 677% gain, exceeding a market value of 11 million dollars, with a 24-hour trading volume almost half its market cap. The YZY Token rose by 600%, and DO Token by 143%. With a 40 million-dollar market cap, DO Token joined the ranks of the largest 1000 altcoins, though it’s risky due to the possibility of contract modifications. Some altcoins, after achieving ample liquidity, update contracts to disable transactions or set exorbitant fees, thereby compromising investors. Hence, investors should remain cautious despite DO Token’s rise.
Lastly, NOBODY Token increased by 97% for the week. Created by Kael Cabral as a social media meme character’s token, NOBODY currently lacks utility or promises. Positioned on the Solana $205 network, it may benefit if it garners sustained hype.
Major Meme Coins: DOGE, SHIB, and PEPE
The largest three meme coins obtained lesser gains compared to short-lived, low-market-cap meme coins. Unfortunately, PEPE Coin has failed to meet expectations. Despite the increase in ETH’s price, it hasn’t rapidly capitalized on this as in previous months.
DOGE could potentially reach $0.28 if it manages to close above $0.255, though it has yet to approach this crucial threshold. SHIBA Coin faces a larger issue due to its dwindling trading volume. Despite remaining the second-largest meme coin by market value, the team needs to innovate as they did during previous trends. Should the SHIBA Coin team announce something like a SHIB reserve, it would signify a return to form.
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