While the cryptocurrency market is experiencing a correction today, with some altcoins, including meme coins, trading in the red over the last 24 hours, the meme coin sector has actually seen positive gains over the past seven days.
Among the top performers, BONK, a Solana-based meme coin, has outperformed other leading meme coins with a 85% pump, while PEPE has risen by 51%. Other meme coins have also recorded gains, albeit to a lesser extent.
Concurrently, a new meme coin called Dogeverse, which launched its presale earlier this month, has achieved an important milestone by raising over $10 million.
Source: CoinMarketCap / memes
Breaks Out, Eyes $0.000035
BONK is currently trading around $0.000027 after this week's impressive pump. The coin reached an all-time high of approximately $0.000037 in early March and had been trading within a descending channel until Tuesday, when it finally broke out of this pattern and entered what could be described as a "discovery mode."
Revolut, a prominent digital banking platform, listed BONK on April 23rd, which may have contributed to the price surge. This listing is important for BONK as it increases its exposure and accessibility to a broader user base.
From a technical standpoint, the Relative Strength Index (RSI) for BONK currently stands at 54, indicating that the asset is neither overbought nor oversold.
Additionally, the Moving Average Convergence Divergence (MACD) line is above the MACD signal line, suggesting bullish momentum. However, based on the current trend, the MACD line could soon dip below the MACD signal line, potentially signaling a bearish reversal.
In the event of any major pullbacks or market crashes, the $0.0000132 level should act as a strong support, as it coincides with the 200-day moving average. This crucial level could provide a potential buying opportunity for traders.
Looking ahead, BONK could potentially target the $0.000035 resistance level. While there haven't been any major announcements or developments from the BONK team that could explain the recent price pump, traders may be investing in more speculative assets like meme coins due to the overall bullish sentiment in the market.
PEPE Pursues $0.00009 Resistance Level
PEPE, the second-best performer among the top meme coins this week, has seen a 51% increase in value. The PEPE/USDT chart exhibits a similar pattern to BONK, with PEPE breaking out of a descending channel during this week's pump. Currently trading around $0.000078 at the time of writing.
The RSI for PEPE stands at 60, indicating that the asset is in a healthy uptrend without being overbought. Similar to BONK, the MACD line is above the MACD signal line, suggesting bullish momentum.
In the event of any significant pullbacks or market crashes, the $0.000028 level should act as a strong support for PEPE, as it coincides with the 200-day moving average.
Looking ahead, PEPE could potentially target the $0.00009 resistance level. Like BONK, there haven't been any major announcements from the PEPE team that could directly explain the recent price surge.
Coinbase initially announced the introduction of Pepe perpetual futures contracts on April 11th. Although the launch encountered technical setbacks, leading to a trading pause until April 23rd, this development might have contributed to the positive sentiment surrounding PEPE.
Given the current momentum and positive market conditions for memes, PEPE could potentially continue its upward trajectory and eye $0.00009 resistance level next.
Dogeverse Presale Surpasses $10 Million
Dogeverse is a new meme coin that has recently launched its presale and has already attracted crypto whales to raise well over $10 million.
The project takes inspiration from Dogecoin and aims to create a fun community token that can be easily traded and used across different crypto networks which is something we’ve not seen so far in the meme coin sector.
Dogeverse's unique approach lies in its focus on multi-chain compatibility, setting it apart from competitors who typically focus on individual blockchains like Solana, Avalanche, and BNB Chain.
This multi-chain compatibility allows for wider adoption and interconnection, enabling users to seamlessly transact and interact with the token across various blockchain networks.
How To Buy Dogeverse
To purchase Dogeverse ($DOGEVERSE), interested investors can follow these steps:
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Visit thedogeverse.com (beware of fake sites)
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Purchase Dogeverse tokens using popular cryptocurrencies like Ethereum, BNB, Polygon, and Avalanche.
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Utilize Wormhole and Portal Bridge technology to claim, store, and trade $DOGEVERSE tokens on various blockchain networks.
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Keep an eye on the presale progress to take advantage of price increases and secure your tokens before reaching fundraising targets.
This new meme coin has a total supply of 200 billion tokens. Out of this total supply, 30 billion tokens (15%) are allocated for the presale. Another 20 billion tokens (10%) are reserved for staking purposes, allowing holders to earn rewards by participating in the network's validation process.
A big portion of 50 billion tokens (25%) is dedicated to project funds, which will be used to support the development, maintenance, and expansion of the meme coin ecosystem. Additionally, 20 billion tokens (10%) are set aside for liquidity provisions, ensuring sufficient liquidity for smooth trading operations.
Marketing efforts play a crucial role in the success of any cryptocurrency project, and this meme coin recognizes its importance by allocating 50 billion tokens (25%) for marketing purposes.
Pro trader ClayBro recently highlighted Dogeverse alongside Shiba Inu:
Conclusion
The meme coin sector has proven its resilience and popularity, with BONK and PEPE leading the charge this week, outperforming other top meme coins. While the reasons behind their impressive gains remain mostly speculative, it's clear that traders are increasingly interested in high-risk, high-reward assets like meme coins.
At the same time, the emergence of Dogeverse and its successful presale, raising over $10 million, highlights the ongoing demand for new meme coin projects. Dogeverse's multi-chain compatibility approach might potentially set it apart from its competitors.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
