Meme coins have taken over the trending charts again.
GameStop leads the rally, recording a 3784.89% jump on the weekly chart. Pepe has climbed 44% in the same window. The much-awaited multichain token Dogeverse, on the other hand, is preparing for a FOMO-fuelled launch as the final stage of its viral presale nears sell-out.
GameStop Rally Revives the Meme Coin Market
GameStop is the hottest meme coin of this week.
The meme coin is an unofficial Solana parody of American gaming retailer GameStop Corp.
GameStop shares began to climb the charts after an unexpected tweet from Keith Gill (Roaring Kitty). The American financial analyst and investor is known for driving the GameStop short squeeze of January 2021. That led to a trading frenzy in retail stocks.
His comeback fuelled the GameStop shares this month. But the meme coin parody benefited more from the recent turn of events, ballooning up to a $100M market cap last week. The rapid expansion led to a 3117% surge in the GME token price.
GameStop all-time price action, source: CoinMarketCap
Although GameStop has been descending the charts (72%) since hitting an all-time high on May 15, there are opportunities for strategic traders. The meme coin is expected to be highly volatile over the next few days, before settling down to a stable support level.
Pepe Explodes 17% in 24 Hours
Pepe remains the most iconic meme coin of this year, despite the crowd of fleeting projects. There are only a few meme coins that have stood the test of time. Pepe has successfully engraved its name on the list.
The non-dog in the dog-crowded meme coin market, Pepe’s success instils faith in creative new projects that venture beyond the norms.
On May 15, Pepe set a new all-time high, proving once again that it is here to stay. Currently, the token has a $4.16B market cap.
Pepe price action, source: CoinMarketCap
Can Pepe climb to a new high?
That remains to be seen. But it is one of the most promising meme coins of this season, owing to its creative theme that stands in stark contrast to top dog coins.
$15M Raised and Counting: Dogeverse Prepares for FOMO-Fuelled Launch
The viral Dogeverse presale is moving toward an early sell-out.
Now in the last stage of the presale, the project has raised more than $15M so far. The growing traffic to the presale and community engagement hints at a FOMO-fuelled exchange launch.
Why is Dogeverse trending, amid a crowd of meme coins?
The answer lies in its multichain infrastructure which is unlike anything seen before in the meme coin market. Most meme coins are spawned into the market with little research and preparation. As a result, they often lack technical competence. Their lifespan is limited to just a few weeks.
But Dogeverse is one of the few exceptions. The meme coin is launching on six blockchains to allow investors to take advantage of the unique benefits of each network.
As a result, the user experience is optimized in terms of cost and transaction speed. In addition, users can tap into diverse DeFi opportunities opened up by these networks.
Although the $DOGEVERSE token is minted on Ethereum, it can be claimed, stored and traded on Solana, BNB Chain, Base, Polygon, or Avalanche using Wormhole and Portal Bridge technology.
Pepe vs. Dogeverse
Both Pepe and Dogeverse have attractive investment prospects over the coming weeks.
Pepe suits investors looking for an established meme coin. Pepe has been around for a year, and has a community of 649K followers on Twitter.
The Dogeverse community was launched just a few weeks back in April 2024. The community has grown to 20K users in a short time, even before the token listing. Investors have plowed more than $15M into the project during this time.
The community strength resembles that of Pepe and Shiba Inu in their early days.
But what drives people to Dogeverse in the presale stage is the low entry points. Dogeverse is selling for a heavily discounted price now, leaving large room for returns to early investors.
When compared to Pepe, Dogeverse has a much lower initial market cap. While the best that Pepe investors can gain this year is 2X to 5X, early Dogeverse investors could potentially gain 10X to 1000X, depending on the market reception.
Investors have a short window to buy Dogeverse in the presale, before it makes its way to exchanges.
