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Meme coins have had a long-lasting impact on the cryptocurrency market as they have become entrenched in crypto culture and an inseparable part of the industry.
It all started with the pioneering Dogecoin (DOGE) in 2013, when Jackson Palmer and Billy Marcus launched the protocol, giving rise to a subdivision of crypto that would go on to be one of the most explosive.
PEPE Coin appears to be the latest notable iteration of the meme coin trend, and has taken the market by storm as well. The cryptocurrency went from almost zero to a near $2 billion market cap in less than a few weeks, making a splash for several millionaires. But now the frenzy seems to be dying down.
Meme Coin is down 70% from its all-time high achieved 30 days ago, and is down nearly 26% in the past week alone.
By all means, it appears that the euphoria that spread across the market like wildfire a few weeks back is now gone.
But that doesn’t mean meme coins are dead. Here are four meme coins to watch as PEPE coin mania winds down.
four meme coins to watch
The following meme coins are the largest by total market capitalization and have established liquidity on both centralized and decentralized exchanges.
Dogecoin (DOGE)
DOGE needs no introduction as it is the reigning king of the meme coin market. It is the largest meme coin by total market capitalization and the one with the most established market. It is traded on all major cryptocurrency exchanges and has more than enough liquidity.
DOGE price has been inactive for the past week, but if MiM Coin is anything to go by, it should definitely be included in the conversation.
Dogecoin was created as a joke in 2013, but has become a driving force in the cryptocurrency market, attracting support from Elon Musk and many other celebrities. It is the godfather of meme coins and deserves a spot on everyone’s meme coin watchlist.
Here are 5 interesting facts about Dogecoin that you might not know.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is probably the second most famous meme coin, and it is also the second largest in terms of total market capitalization.
It gained popularity in 2021 when it reached a market cap above $70 billion. Down 90% since then, the cryptocurrency has demonstrated on multiple occasions that it is not to be underestimated. SHIB has exploded in price several times, often taking investors by surprise.
The team behind it has developed an entire ecosystem that taps into the realm of Metaverse and has even issued two other tokens, both of which have also performed relatively well since inception.
SHIB is currently trading flat on the week but is down about 12% over the past month. It is important to monitor the performance of this meme coin because, as we mentioned above, it often sidelines investors with a giant move.
Unfortunately, over the past few weeks, the community has faced significant delays on upcoming iterations of the protocol, which appears to have stifled SHIB’s momentum. This could also be interpreted to mean that once developers deliver on their promises, volatility may increase.
Floki Inu (Floki)
Floki Inu (Floki) is one of the dog-inspired meme coins, but it has a different origin story. The team behind it decided to go with it when Elon Musk decided to name his dog Floki. As you will usually encounter in the world of meme coins, Elon Musk plays a key role in a lot of projects. Floki is no exception.
Another thing that set Floki Inu apart from the rest of the meme coins was the extensive advertising campaign that the team took back in 2022.
At one point, London buses were painted and decorated with the project’s brand in what was the first such advertising meme coin campaign.
Riding on the back of the meme coin hype, FLOKI is often influenced by the activities of its peers – SHIB and DOGE. Therefore, when the market is quiet, it is usually a harbinger of a significant move.
Dogelon Mars (Elon)
Dogelon Mars (ELON) is a space-themed meme coin that clearly takes off from Elon Musk’s name and his quest to populate Mars.
The cryptocurrency is themed around a Shiba Inu dog called Dogelon Mars who wants to explore the secrets of the universe.
That said, ELON has managed to achieve a market cap of over $110 million at the time of this writing, effectively placing it in the top 5 of the largest meme coins by this metric.
It’s down about 17% in the last month, but its price is usually influenced by tweets from Elon Musk (surprising no one), so it might be a good idea to keep an eye.
conclusion
Overall, the PEPE Coin price frenzy seems to have calmed down for the time being, and the cryptocurrency is winding down in terms of momentum. Buyers missing.
This could be a precursor to a move into other parts of the meme coins market, and it might be a good idea to monitor some of the best established names in the field.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
[ad_1]
Meme coins have had a long-lasting impact on the cryptocurrency market as they have become entrenched in crypto culture and an inseparable part of the industry.
It all started with the pioneering Dogecoin (DOGE) in 2013, when Jackson Palmer and Billy Marcus launched the protocol, giving rise to a subdivision of crypto that would go on to be one of the most explosive.
PEPE Coin appears to be the latest notable iteration of the meme coin trend, and has taken the market by storm as well. The cryptocurrency went from almost zero to a near $2 billion market cap in less than a few weeks, making a splash for several millionaires. But now the frenzy seems to be dying down.
Meme Coin is down 70% from its all-time high achieved 30 days ago, and is down nearly 26% in the past week alone.
By all means, it appears that the euphoria that spread across the market like wildfire a few weeks back is now gone.
But that doesn’t mean meme coins are dead. Here are four meme coins to watch as PEPE coin mania winds down.
four meme coins to watch
The following meme coins are the largest by total market capitalization and have established liquidity on both centralized and decentralized exchanges.
Dogecoin (DOGE)
DOGE needs no introduction as it is the reigning king of the meme coin market. It is the largest meme coin by total market capitalization and the one with the most established market. It is traded on all major cryptocurrency exchanges and has more than enough liquidity.
DOGE price has been inactive for the past week, but if MiM Coin is anything to go by, it should definitely be included in the conversation.
Dogecoin was created as a joke in 2013, but has become a driving force in the cryptocurrency market, attracting support from Elon Musk and many other celebrities. It is the godfather of meme coins and deserves a spot on everyone’s meme coin watchlist.
Here are 5 interesting facts about Dogecoin that you might not know.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is probably the second most famous meme coin, and it is also the second largest in terms of total market capitalization.
It gained popularity in 2021 when it reached a market cap above $70 billion. Down 90% since then, the cryptocurrency has demonstrated on multiple occasions that it is not to be underestimated. SHIB has exploded in price several times, often taking investors by surprise.
The team behind it has developed an entire ecosystem that taps into the realm of Metaverse and has even issued two other tokens, both of which have also performed relatively well since inception.
SHIB is currently trading flat on the week but is down about 12% over the past month. It is important to monitor the performance of this meme coin because, as we mentioned above, it often sidelines investors with a giant move.
Unfortunately, over the past few weeks, the community has faced significant delays on upcoming iterations of the protocol, which appears to have stifled SHIB’s momentum. This could also be interpreted to mean that once developers deliver on their promises, volatility may increase.
Floki Inu (Floki)
Floki Inu (Floki) is one of the dog-inspired meme coins, but it has a different origin story. The team behind it decided to go with it when Elon Musk decided to name his dog Floki. As you will usually encounter in the world of meme coins, Elon Musk plays a key role in a lot of projects. Floki is no exception.
Another thing that set Floki Inu apart from the rest of the meme coins was the extensive advertising campaign that the team took back in 2022.
At one point, London buses were painted and decorated with the project’s brand in what was the first such advertising meme coin campaign.
Riding on the back of the meme coin hype, FLOKI is often influenced by the activities of its peers – SHIB and DOGE. Therefore, when the market is quiet, it is usually a harbinger of a significant move.
Dogelon Mars (Elon)
Dogelon Mars (ELON) is a space-themed meme coin that clearly takes off from Elon Musk’s name and his quest to populate Mars.
The cryptocurrency is themed around a Shiba Inu dog called Dogelon Mars who wants to explore the secrets of the universe.
That said, ELON has managed to achieve a market cap of over $110 million at the time of this writing, effectively placing it in the top 5 of the largest meme coins by this metric.
It’s down about 17% in the last month, but its price is usually influenced by tweets from Elon Musk (surprising no one), so it might be a good idea to keep an eye.
conclusion
Overall, the PEPE Coin price frenzy seems to have calmed down for the time being, and the cryptocurrency is winding down in terms of momentum. Buyers missing.
This could be a precursor to a move into other parts of the meme coins market, and it might be a good idea to monitor some of the best established names in the field.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
