Pepe and Dogecoin are among some of the top performers this week as the crypto market continues to advance. Currently, Pepe is up a staggering 89% in the last week, while Dogecoin is also gathering momentum, up 19.8%.
Yet even though Pepe has almost done a 2x in one week, numerous prominent smaller cap cryptos are touted to fare even better in the coming months. The top three that look set for the highest returns are Meme Kombat ($MK), Wall Street Memes ($WSM), and Sponge ($SPONGE).
Bullish Announcement Powers Pepe to Explode With Dogecoin Following
Excitement around Pepe has again soared, which has also rallied interest in other meme coins this week. Pepe has fared as the best-performing major cryptocurrency, soaring to its highest price since mid-August.
Its recent pump is due to the team announcing they will burn $6.9 trillion Pepe, worth $6 million. It also stated that a new team of advisors would join to help Pepe grow.
This announcement proved significantly bullish because it rectified a mishap from August, where a group of alleged ex-team members stole $15 million of Pepe from the project’s multi-signature wallet.
The event drew significant concern from the Pepe community, with many investors losing trust and dumping their tokens.
However, the recent announcement has reinstilled investors’ confidence, with its price back to levels from before the funds were stolen for the first time.
Many analysts praise the Pepe team for its timely execution of the announcement. This is because they revealed it as the market pumped, so investors were more receptive to the good news.
Meanwhile, Dogecoin has also seen a considerable uptick in price this week. Yet, unlike Pepe, Dogecoin has not seen any notable fundamental advancements. Instead, its bullish price action is likely a combination of a spillover from Pepe’s pump and a reaction to events that have occurred in recent months.
One X analyst who goes by ali_charts predicted that Dogecoin is ready to rally on the higher-timeframe price chart.
The analyst noted a strong support level at $0.56 and expects Dogecoin to continue trending upward from its current price. According to the analysis, a close above $0.62 could result in an upswing to $0.7, with its highest price target at $0.084.
Ali’s prediction results in a 40% gain from its current price. While this is still significant, newer meme coins can climb exponentially faster thanks to their lower market caps.
As mentioned, the best three meme coins with the most potential are Meme Kombat, Wall Street Memes, and Sponge.
GambleFi Meme Coin Meme Kombat Offers 112% Staking APY and Surges Past $760K at Presale
Meme Kombat is a trending Play-to-Earn meme coin enabling users to gamble on the outcome of AI-generate battles between viral meme characters.
Its compelling use case captures the excitement of the crypto casino trend and pairs it with the community-centric nature of meme coins. This provides an immersive user experience and long-term potential.
Platform users require the $MK token to interact with the platform, delivering a steady stream of demand, which could translate to significant upside potential. It also features a staking mechanism, encouraging users to lock up their tokens for a 112% annual percentage yield (APY). This will bolster the token’s demand while also reducing its supply.
As mentioned, Pepe struggled due to the project’s lack of transparency. Meanwhile, Meme Kombat features a fully doxxed team with years of experience across blockchain, business, and tech. A well-established team is a significant indication of a project’s potential, signaling that Meme Kombat’s future looks bright, and numerous traders are backing the project.
Investors can buy $MK for $0.1667, but with a price rise set for in six days, those seeking the lowest price cannot wait around.
Trending Wall Street Memes Launches Crypto Casino
Wall Street Memes is a popular meme coin that garnered a name for itself in the past months after raising over $25 million in its presale. The project’s unprecedented presale success can be attributed to its enormous community, comprising over one million followers across all social media accounts.
Moreover, Elon Musk has engaged with the Wall Street Memes X account several times. This has drawn significant attention to $WSM, which is no surprise considering Musk’s impact on Dogecoin’s price in 2021.
Since its presale, Wall Street Memes has become a hotbed of crypto innovation, initially launching a staking mechanism that provides 39% APY. It also features a burn portal, enabling holders to destroy $WSM tokens and reduce its circulating supply.
Then, the project surprisingly announced the launch of a crypto casino, offering hundreds of games and live sporting events for users to gamble on. The platform accepts cryptocurrencies like BTC, ETH, stablecoins, and the Wall Street Memes token.
Furthermore, first-time depositors who use $WSM get a 200% deposit bonus up to $25K and 200 free casino spins.
The casino launch caused $WSM to pump significantly, but after a few days of consolidation, the token looks ready to explode again.
Viral Sponge Token Pumps 20% After Promising Announcements
Sponge is a meme coin that rose to prominence alongside Pepe earlier this year. Around the same time as Pepe reached its ATH, Sponge gained the top spot on the CoinMarketCap trending list as its price exploded.
Following Pepe and other meme coins, it then sold off. However, Pepe’s recent resurgence, coupled with bullish announcements from the Sponge team, has reignited investors’ belief that this token could be about to boom. So far, it is up 20% this week, but with a market cap of just $2.4 million, it holds significantly more room for growth than Pepe and other large-cap meme coins.
The announcements that caused the pump revealed a staking mechanism, which will go live on 1 November, and an airdrop that will take place in four days.
These factors have stirred up notable hype, but rumors are circulating that token burn and partnership announcements are also coming.
If this occurs, we could see $SPONGE’s price action go even more parabolic, potentially enabling it to reclaim the top spot on CoinMarketCap’s trending list.
With this in mind, Sponge has massive upside potential while boasting a successful track record. This increases its likelihood of success, but potential investors should act quickly because the next announcements could be made at any time.