The Hottest Meme Coins Making Waves This Month

Meme coins that once were dismissed as a passing trend have emerged back as a significant part of the crypto market. Known for their light-hearted origins and often humorous communities, meme coins have evolved into serious contenders, having substantial market caps and trading volumes. As of today, the total MCap of meme coins stands at an impressive ~$45 Bn, with a 24-hour trading volume of approximately ~$5.5 Bn. 

This blog post shares insights into the hottest meme coins making waves this month highlighting their unique attributes. Read on!

Dogecoin (DOGE)

Dogecoin, the original meme coin, continues to captivate the crypto world. Known for its loyal community and high-profile endorsements notably from Elon Musk. As analysts predict a potential new all-time high, interest in Dogecoin remains strong. One expert suggests the current market setup mirrors past patterns seen before significant bull runs, hinting at a possible surge shortly. This analyst has been accumulating more DOGE, indicating confidence in its upcoming performance. 

However DOGE price has briefly tumbled below $0.10 reflecting a 28.65% price decline. On the daily DOGE/USD chart, the RSI for Dogecoin has dipped to 34.09, indicating that the asset is nearing oversold conditions. The Choppiness Index for DOGE is at 37.46, indicating that the market is transitioning from a choppy phase to a trending phase. Given the recent price declines, this suggests that the trend is likely bearish.  

Shiba Inu (SHIB)

Shiba Inu, often referred to as the “Dogecoin killer,” holds the position of the second-largest meme coin by market cap, approximately $9.3 billion. The coin’s future hinges on the success of its layer-2 blockchain solution, Shibarium, launched last August. Shibarium aims to boost SHIB’s scalability, reduce transaction costs, and enhance speed. With over 6 million blocks processed, Shibarium’s development is a key factor to watch. The ongoing progress in this ecosystem could play a crucial role in SHIB’s price movements.

Shiba Inu price analysis shows an aggressive correction since mid-July amid the market correction. The bearish turnaround plummeted the SHIB price from its high of $0.00002017 to $0.0000113, registering a loss of 33.9%. Data shows that about 374K addresses purchased nearly 150 Trillion SHIB between $0.000014 and $0.000008. Furthermore, the RSI has dipped into the oversold territory at 27%, potentially drawing buyers interested in purchasing at lower prices. The general Shiba Inu price prediction sentiment is bearish, with 6 technical analysis indicators signalling bullish signals, and 27 signalling bearish signals.

PolitiFi Memes: MAGA and KAMA

Political-themed meme coins have also gained traction, with MAGA (Trump) and KAMA (Kamala Harris) leading the charge. These tokens often see price volatility tied to political events. MAGA, associated with Donald Trump, saw a price increase following the failed assassination attempt on the former president in mid-July. Meanwhile, KAMA reached an all-time high of nearly $0.04 on July 24, following Joe Biden’s withdrawal from the presidential race and Kamala Harris’s nomination as the Democratic candidate. As political campaigns progress, these coins could experience further fluctuations.

Pepe Unchained (PEPU)

Pepe Unchained $PEPU has emerged as a notable player among Pepe-themed cryptocurrencies. Having raised nearly $7 million in a month since its presale began, PEPU is priced at $0.0088396 per token. The project plans to establish a standalone layer-2 chain, distancing itself from the ERC-20 Ethereum standard, aiming to offer a more efficient platform for meme coin developers. With substantial staking rewards offering a 283% APY, Pepe Unchained has attracted a significant number of investors, with 564 million $PEPU tokens already locked. The project’s ambitious plans and presale success make it a strong contender in the meme coin market.

PlayDoge (PLAY)

PlayDoge is gaining momentum as it nears the end of its ICO phase, having raised close to $6 million. This meme coin stands out with its Play-to-Earn feature, merging cryptocurrency with engaging gameplay. The upcoming mobile game, inspired by the classic Tamagotchi Pets, will allow players to earn $PLAY tokens by caring for their virtual pets and participating in mini-games. The game includes a leaderboard for players to compete and earn extra tokens, adding a competitive edge. With exchange listings on the horizon and staking opportunities on the BNB Chain and Ethereum network, PlayDoge is poised for growth.

Conclusion

The meme coin market continues to thrive, driven by a mix of community enthusiasm, celebrity endorsements, and innovative features. From the steadfast Dogecoin and Shiba Inu to the politically charged MAGA and KAMA, and the rising stars Pepe Unchained and PlayDoge, these coins offer diverse opportunities for investors and enthusiasts alike. As market conditions evolve, staying informed about these developments will be crucial for anyone interested in the meme coin phenomenon.