The meme coin saga continues to prevail as Shiba Inu and Dogwifthat jump 7.4% and 16.7%, respectively.
Meanwhile, the new ICO meme coin Dogecoin20 is backed to explode after raising $10 million in one week.
SHIB and WIF Pump as Analysts Anticipate Continued Meme Coin Strength
A wave of excitement has washed the meme coin market, with Shiba Inu and Dogwifhat leading the way.
Analysts anticipate a continuation of bullish momentum, with SatoshiStBets speculating that “meme coins are going to just pump all year long.”
Currently, Shiba Inu is up 7.4% today, 28.7% this week, and 206% this month. It holds a $18 billion market cap and a $2.1 billion 24-hour trading volume, up 43%.
SHIB’s recent uptick marks a bounce following a retracement from its 5 March all-time high.
“Retest was successful. Slowly, SHIB history is repeating itself,” said prominent market analyst Rekt Capital.
The analysis also depicts a similar bounce before its 2021 ATH, indicating another explosive leg-up may be on the horizon.
On the 4-hour price chart, Crypto Patel anticipates SHIB could advance toward its $0.000041 local high, a 41% uptick from its current price of $0.000031.
Taking a longer-term outlook, analyst Lemon predicts that SHIB could push toward $0.0006 after breaking and retesting a 2022 resistance level.
But despite SHIB’s bullish trajectory, Dogwifhat has outperformed it recently. Currently, it is up 15% today, 63% this week, and 527% this month.
Social media commentator Sosuke recently speculated that WIF will “close the gap” between market leaders Dogecoin and Shiba Inu.
Based on today’s price of $3.33, TradingView analyst Mfiqrihanafi forecasts a 53% uptick, propelling WIF to highs of $5.1 in the coming weeks.
Indeed, the bullish market sentiment hints at a bright upcoming trajectory for SHIB and WIF. However, other meme coins are also poised for spectacular gains.
In a recent analysis, one market commentator speculated that trending presale Dogecoin20 could do a 100x after its IEO.
The token’s presale is ongoing, providing a final opportunity for investors to buy in before its exchange launch.
Could Dogecoin20 be the Next Big Meme Coin?
Inspired by the OG meme coin Dogecoin, Dogecoin20 offers a fresh outlook, intertwining the enigmatic vigor of meme coins with cutting-edge financial innovation and real-world activism.
Through its cornerstone Stake-to-Earn mechanism, Dogecoin20 users can compound their investment. Currently, they can garner a 99% APY, but this will decrease as more tokens are staked.
In addition to rewarding community members, Dogecoin20’s staking forges a new token demand stream, bolstering its long-term potential.
Another exciting advantage is its capped supply. Since the original Dogecoin was created as a joke, it lacks the financial prowess of other prominent cryptos like Bitcoin. However, Dogecoin20 revamps its tokenomics, capping the supply at 140 billion to stave off inflation and price dilution.
Nevertheless, Dogecoin20 remains committed to the “Do Only Good Everyday” principle popularized by Dogecoin. Per its whitepaper, the project will “channel its influence to support charitable initiatives, community projects, and noble causes.”
These factors have drawn immense interest, with Jacob Bury recently speculating it could 100x after its exchange launch. Bury was an early proponent of parabolic meme coins like Smog and Sponge, which recently soared between 10-100x, setting a massively bullish precedent for $DOGE20.
Yet, with just 24 days until its exchange launch, potential buyers must act fast to avoid missing out.
The post appeared first on Coinpedia
