The crypto market is on an upswing again after the crash last week, with BTC growing 3.96% to $57,317.19 per Bitcoin over the last 24 hours. Altcoins are rallying further with this news, and certain meme coins are skyrocketing double-digits as the market recovers.
Out of the top 5 meme coins, the leading performer over the last 24 hours is dogwifhat (WIF) with other doge-themed tokens rallying behind it.
Dogwifhat Regains 25.73% As Losses Fade
WIF has grown 25.73% over the last 24 hours trading at $1.73 each. The 4th largest meme coin in the world is rebounding massively even though daily trading volume is down 14.63% to $772,615,209.
Looking at the last 7 days paints a slightly more depressing picture, with WIF still falling 24.95%. However, if we look at the last 30 days, WIF is only down 7.32% since early July, showing great recovery in token price.
Experts and analysts are split as WIF nears the $2 mark, with some placing $2.02 as a very important resistance zone for the token. BlockchainBaller, an X (Twitter) personality and influencer expects the token to break through this resistance line and soar all the way up to $2.9.
$WIF just bounced hard off $1.681
If it breaks $2.02 resistance, we’re sky-high to $2.9
Next stop – MOON 🚀💵 pic.twitter.com/F2ZgZx94Ev
— BlockchainBaller (@bl_ockchain) August 7, 2024
Others take an even more bullish stance, with high-risk investor and influencer Nachi expecting the token to go as far as $10 this cycle. With that being said, he also cautions against a bounce back down to the $1.58 level.
What do you buy next after buying $SOL?
You need a hat to go $WIF it otherwise what’s the point?
I’ve been buying the whole day to fill this position, keep buying at resistance to break the resistance, looking for a reversal with a swing failure pattern and close above 1.58… pic.twitter.com/Cy8xCwvug8
— Nachi (@alphawifhat) August 7, 2024
With WIF on the upswing again, other doge-inspired tokens are following suit.
Doge-Themed Tokens Floki, Bonk, And Neiro Surge
While the top 2 doge-themed tokens- Shiba Inu (SHIB) and Dogecoin (DOGE) grew a modest 2.38% and 4.33% respectively, other doge tokens are following in WIF’s footsteps.
Bonk (BONK) has pumped 8.63% to a price of $0.00002097 each over the last 24 hours. It is still down 19.75% over the week, but many experts expect BONK to earn this back. The token has almost completely made up its monthly losses, however, down only 5.79% over the timeframe.
The utility meme coin Floki (FLOKI) has grown even more, up 11.44% over the day to $0.0001315 per token. Despite being down 20.57% over the week and 11.07% over the last month, the team behind it is continuing development on various projects. With an announcement coming on August 9th, we could see the token grow back to its pre-crash levels.
Dear Vikings,#Floki will have a marketing announcement on Friday, August 9th, at 9AM (UTC).
Venue: $FLOKI X Spaces.
Set your reminder to make sure you don’t miss it 👇
https://t.co/47MpjRsdjM— FLOKI (@RealFlokiInu) August 7, 2024
Neiro Ethereum (NEIRO) – DOGE’s spiritual successor launched on July 28th, and is already one of the top 20 biggest meme coins by CoinMarketCap data. The token is up 44.96% over the last 24 hours, trading at $0.2733 each. It is actually up over the week, growing almost 2x by 99.82%.
Seeing Neiro’s success, investors are looking at other soon-to-launch tokens to be the next 10x hit.
Next Big Dog Meme Coin? PlayDoge Enters the Fray After Raising Over $6M
PlayDoge (PLAY) is the native token of the titular P2E game. The token merges the familiar doge aesthetic with charming 8-bit graphics and intuitive, Tamagotchi-like gameplay. The game revolves around the player taking care of their doge pet, playing with them, and completing minigames.
The project has raised almost $6 million, selling for $0.00526 per token. However, it’s worth noting that it follows a dynamic pricing model, so the price is increased each week, or when certain funding goals are met.
This rewards early investors, as does the fact that 50% of the 9.4 Billion token supply is allocated to the presale, with another 12% allocated to staking at an estimated 78% P/A.
Experts are extremely bullish on PLAY. We’ve seen the likes of 99Bitcoins- an educational crypto YouTube channel with over 700,000 subscribers praise the token, expecting 50x-100x returns. If this comes true, it would blow even NEIRO’s growth out of the water after its DEX launch.
THIS CRYTO MEME COIN CAN 50X TO 100X YOUR MONEY! PLAYDOGE BEST P2E DOGE COIN
Nobody knows if PlayDoge will be able to reach Neiro-like returns, but one thing’s certain – it’s surely laid all the groundwork well.
