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?
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.
Jesse sends his regards $popcat pic.twitter.com/GJrpAoLyqw
Meanwhile, X commentator Mattie suggests that a 5x rally is incoming, citing its recent strength as a reason.
The fact that $POPCAT holders are not selling after a 32% pump is telling to me $5 sooner than later. pic.twitter.com/jmUd8BA9f5
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.
Think there’s actually a decent chance that @coinbase kicks off the bull listing both $WIF and $POPCAT
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
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