This article highlights the recent price surges of Shiba Inu and Dogecoin, analyzing their market performance and discussing other promising meme coins to watch.
Points
- Shiba Inu and Dogecoin have experienced significant price increases.
- Traders are showing renewed interest in meme coins.
- Smaller meme coins also offer potential high returns.
Liquidity is flowing back into the crypto market, with many traders focusing on meme coins. Both Dogecoin and Shiba Inu have experienced significant gains and have outperformed the broader crypto market. This resurgence reflects a growing risk appetite among traders as they look for opportunities in the meme coin sector.
Dogecoin and Shiba Inu Surge as Crypto Market Recovers
Dogecoin and Shiba Inu have significantly outpaced the broader crypto market. The industry’s total valuation is up by 3.4% and has been in the green for several days. At the time of writing, Dogecoin has surged 6.8% and Shiba Inu has climbed 9.1%.
This movement reflects a growing risk appetite among traders as expectations rise for a continued bull market. 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.
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.
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:
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.
Conclusion
The resurgence of liquidity in the crypto market has led to significant gains for meme coins like Dogecoin and Shiba Inu. Smaller meme coins also present potential high returns, making them worth watching in the current market climate. Traders should consider the unique features and market performance of these coins when making investment decisions.
FAQ
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What are meme coins?
Meme coins are cryptocurrencies inspired by internet memes or jokes, often characterized by their strong community support and viral nature. -
Why are Dogecoin and Shiba Inu surging?
Factors contributing to their surge include renewed market interest, positive sentiment, and broader crypto market recovery. -
What are some promising smaller meme coins?
Promising smaller meme coins include Shiba Shootout, Floki, and Base Dawgz, each with unique features and growth potential. -
What should traders consider when investing in meme coins?
Traders should consider the coin’s community support, market performance, unique features, and potential for future growth. -
Where can you purchase these meme coins?
These meme coins are available on various exchanges, including Binance, Coinbase, and decentralized platforms.