The crypto market is recovering, with Bitcoin(BTC) up 4.52% back to over $60,000 levels again. This is especially apparent in the meme coin space, where top meme coins are rebounding significantly.
Dogecoin (DOGE) and Shiba Inu(SHIB,) the top 2 meme coins, saw a 5.8% and 5.4% price surge in the last 24 hours respectively. This market-wide recovery among popular meme coins raised the market cap to $39 billion, up from yesterday’s $36 billion.
However, one of the biggest gainers has been dogwifhat (WIF) making 15% gains over the last day and garnering bullish attention from analysts.
Dogwifhat Rallies With 15% Price Pump
Dogwifhat has stunned the crypto markets with today’s sudden 15.9% price surge to $1.58 per token. Following its rise, the meme coin also saw a 52% increase in daily trading volume, reaching $370 million. This sudden price boom made it one of the top gainers among the top 100 cryptocurrencies on Tuesday.
Like other meme coins, the token has finally seen some upwards movement after a tough few weeks for the market.
WIF dropped by approximately 30% in ten days, between August 9th and 19th, following a recovery since the August 5th crash. However, its recovery in the last 24 hours has experts seeing bullish potential.
GaWIF_SOLway, a crypto analyst and investor on X (Twitter) expects the token to explode massively after it crosses the $1.67 range, expecting it to grow to at least $10, if not a full 25x to $40.
Make no mistake, $WIF is the chosen meme of the cycle. We will range a little longer in these areas, reclaim our moving averages and blast off. 10$ first, then $40 then the moon. pic.twitter.com/KvwIlw2qQm
— GaWIF_SOLway (@Gawif_Solway) August 19, 2024
Sjuul, with over 434,000 followers on X (Twitter) is expecting the token to continue this growth trajectory, despite not being so bold as to suggest 25x returns soon.
That was fast! $WIF is back in business with a strong reclaim of the support level.
Congrats, HAT back on!https://t.co/6bNGDyEdcL pic.twitter.com/YGd8hFIjTQ
— Sjuul | AltCryptoGems (@AltCryptoGems) August 20, 2024
Dog-Themed Tokens Bouncing Back Restores Investor’s Faith In The Market
While the meme coin market experienced a massive dip following the stock market crash two weeks ago, with several meme coins dropping by up to 40%, experts believe we’re nearing a sequel of the 2021 meme coin boom.
Despite the recent downward trends for meme coins, DOGE, SHIB, and WIF have continued to capture significant attention. Dogecoin maintains its leading position and trades at around $0.1053 but faces selling pressure if it drops below this point.
Shiba Inu is struggling to break the resistance levels at $0.00001382 despite bullish attempts.
#SHIBUSD //update👁️
🚨$SHIB IS KNOCKING ON THE RESISTANCE LINE! AN BREAKOUT IS EXTREMELY CLOSE! SHOULD THIS BREAKOUT IS A HUGE?👁️
Daily chart, send on HIGHER.🚀 pic.twitter.com/Iu0T70lLUT
— Rk_Crypto🪐 (@Rk_Crypt) August 19, 2024
The Doge-themed market has also seen great success from newcomers, with the recently-launched Neiro (NEIRO) growing 33.00% in the last 24 hours. The token has grown a total of over 10x since its launch in late July, by 1080.63%.
This shows that there is still strong investor interest in new tokens in the space, with some of them having potential to generate huge returns.
As the market heats back up again, investors are turning to early projects like this and PlayDoge in an attempt to make large returns.
New Meme Coin to Watch: PlayDoge Enters the Fray as Experts Predict Big Returns
PlayDoge (PLAY) is a brand new P2E meme coin currently in its presale. PlayDoge stands out from the pack as a Tamagotchi-inspired token, mixing nostalgia with play-to-earn rewards.
PlayDoge’s upcoming mobile game will let you care for your virtual doge pet by feeding and playing with it while earning rewards.
The token already raised $6 million and is currently priced at $0.00531 each. Its ICO employs a dynamic pricing model, meaning early investors can secure the best price, which goes up each time a funding goal is met or enough time passes.
Ensuring maximum security for investors, PlayDoge has passed a SolidProof security audit and dedicated 11.5% of the total token supply to liquidity. This ensures a smooth trading experience, and minimizes the risk of a rug pull.
The token has garnered a lot of expert attention, with the likes of ClayBro, 99Bitcoin, Jacob Bury, and others seeing potential. CryptoNews, a popular crypto analyst channel, sees PlayDoge’s potential large player base and strong fundamentals as definitive signs of upcoming success for PLAY.
PLAYDOGE IS ABOUT TO EXPLODE!! HUGE UPDATES FOR PLAY DOGE!!
With the presale ending in less than 6 days, it’s the last chance for investors to get in on the token before it launches on DEXs.