Liquidity is flowing back into the crypto market today, with many traders focusing on meme coins. Both Dogecoin and Shiba Inu have experienced significant gains and have outperformed the broader crypto market.
However, some smaller meme coins might offer even higher returns.
Dogecoin and Shiba Inu Surge as Crypto Market Recovers
Dogecoin and Shiba Inu have significantly outpaced the broader crypto market today. While the industry’s total valuation is up by 3.4% and has been in the green for several days, Dogecoin has surged 6.8% and Shiba Inu has climbed 9.1% at the time of writing.
This movement reflects a growing risk appetite among traders as expectations rise for a continued bull market. After a period of dismal crypto prices, the landscape is shifting rapidly. Factors contributing to this change include Germany’s sale of its Bitcoin holdings, rising Bitcoin ETF inflows, stabilization in macroeconomics, and increasing hopes for pro-crypto candidate Donald Trump’s potential return to the presidency.
Currently, Dogecoin (DOGE) is trading at $0.1251, having increased by 15% this week but decreased by 7% this month. Its 24-hour trading volume has jumped 61% to $914 million. Analysts suggest that Dogecoin’s price may rally toward $1 if the current upward trend continues.
Source: X
On the other hand, Shiba Inu (SHIB) is trading at $0.00001961, with a 19% increase this week and a 4% decrease this month. Its 24-hour trading volume has soared 112% to $540 million. Analysts, including Lola, are optimistic about SHIB’s potential to rally further, particularly with the upcoming launch of Ethereum spot ETFs later in July, which could drive additional momentum for the coin.
Source: X
Top Meme Coins to Watch Amid Crypto Market Recovery
As liquidity returns to the crypto market, meme coins are drawing considerable attention from traders. Here are some of the best meme coins to consider for potential gains:
PlayDoge: PlayDoge stands out with its innovative approach. Unlike typical meme coins, it is developing a Play-to-Earn (P2E) game that will be available on both the Apple App Store and Google Play Store. Inspired by the 1990s Tamagotchi, the game allows users to care for a virtual pet and earn real crypto rewards. With an 86% APY staking mechanism and a current presale price of $0.00519, PlayDoge has already raised $5.7 million.
Pepe: Pepe has shown strong performance, benefiting from the recent Ethereum ETF approval. With a 630% increase this year, Pepe is a leading meme coin with a current price of $0.00001193. It has a market cap of $5 billion and a 24-hour trading volume of $1.6 billion, up 112%. Its continued success indicates potential for further gains.
Shiba Shootout: Shiba Shootout is another promising meme coin, linked to Shiba Inu. It adopts a Wild West theme and offers utilities such as staking, community incentives, and token governance. With a presale price of $0.0196 and having raised $670K so far, it presents a low market cap alternative with significant upside potential.
Floki: Floki is a Shiba Inu-themed coin with a P2E game called Valhalla and a vault locker for locking tokens and NFTs. It has a $1.7 billion market cap and a 24-hour trading volume of $465 million. Currently trading at $0.0001881, Floki is up 17% today and 26% this week.
Base Dawgz: Base Dawgz, recently launched on the Base network, is a multichain meme coin available on Ethereum, Solana, BSC, and Avalanche. It features staking and a refer-and-earn mechanism. With a presale price of $0.0061, it’s positioned to benefit from Base’s growing liquidity and Coinbase’s integration.
These meme coins offer diverse opportunities as the crypto market recovers, each with unique features and potential for significant returns.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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