Meme coins are once again stealing the spotlight.
The price of Pepe (PEPE) has rocketed to a new all-time high, leaving investors euphoric and wondering which coin could be next to pump.
With Dogeverse (DOGEVERSE) being one of the hottest ongoing presales, some analysts believe it could be one to watch ahead of its DEX debut in the coming weeks.
Meme Coin Mania Grips the Market After PEPE Hits ATH
PEPE reached a new record value of $0.0000110 just a few hours ago.
PEPE’s price has dropped slightly to $0.0000104 at the time of writing, yet sentiment remains overwhelmingly bullish.
The token’s market cap is now at $4.3 billion – making it the 23rd largest cryptocurrency in the world.
Spot trading volumes for PEPE have also surged 300% to $2.6 billion in the past 24 hours.
This makes PEPE the most traded meme coin currently, even outpacing Dogecoin’s (DOGE) volumes.
As speculative investors jump on board, open interest has also climbed substantially to $116 million.
PEPE’s sudden price pump could be linked to the reappearance of “Roaring Kitty” – the trader at the center of the 2021 GameStop short squeeze.
His cryptic new post on Twitter has led to speculation that another meme stock rally could be imminent.
And that enthusiasm has spilled over to the meme coin market, with PEPE leading the charge.
Hype & Trading Volumes Rise Across the Board Following Roaring Kitty’s Return
But PEPE isn’t the only meme coin that’s on fire.
The entire meme coin market is bullish, with its total value up 3% to $52.7 billion in the past day.
Trading volumes have rocketed 141% to $8.7 billion as crypto fans flock to their favorite joke tokens.
Almost every major meme coin is in the green in the last 24 hours.
Dogecoin and Shiba Inu are up 4% and 1% respectively.
One of the biggest gainers is Popcat, which has soared 29% thanks to the speculative mania.
However, the real showstopper is the GameStop meme coin, inspired by the iconic stock.
This coin has rocketed by 394% since yesterday and is now the world’s 8th most traded meme coin.
It seems the triumphant return of Roaring Kitty has reignited excitement around meme assets across the board. His resurfacing looks to have been the catalyst for this current level of demand.
Ultimately, as has been shown time and again in the meme coin space, these types of speculative surges can come out of nowhere, regardless of the prevailing market sentiment.
New Multi-Chain Project Dogeverse Taps Into the Viral Meme Coin Momentum
The meme coin madness isn’t just surrounding established tokens – presale projects like Dogeverse are also getting in on the hype.
This new multi-chain project recently got a massive shoutout from the 99Bitcoins YouTube channel, which said it could be the “next 100x crypto.”
99Bitcoins’ crew highlighted how one crypto whale invested a staggering $183,000 into the Dogeverse presale last week. That’s a huge vote of confidence in this Doge-inspired project’s potential.
But why are crypto traders like this so excited about Dogeverse?
This excitement stems from the development team’s vision of uniting meme coin communities on different blockchains.
According to Dogeverse’s whitepaper, by using cross-chain bridging tech, the project will be available simultaneously on six blockchains, including Ethereum, Solana, and Base.
The 99Bitcoins hosts were buzzed about this multi-chain functionality, which will allow DOGEVERSE holders to tap into opportunities on different networks as they please.
There are also staking rewards on offer for token holders who opt to lock up their DOGEVERSE.
With meme coin momentum ramping up following Roaring Kitty’s return, the buzz around Dogeverse’s ongoing presale looks set to keep building. More than $15 million in funding has been raised so far – and the developers are now preparing for the token’s DEX debut in the coming weeks.
If Dogeverse can tap into the viral energy surging through the meme coin space right now, some believe the token could take off in a major way.
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