Bitcoin (BTC) is back above the $65,000 mark, which helped fuel a double-digit soar of leading meme coins. Floki, Pepe, and Shiba Inu saw a 28-43% jump, with other meme coins following suit.
With renewed investor interest in meme coins and a potential upcoming bull run, traders are now turning their attention to tokens that are positioned to take advantage of this.
Fed Rate Cut Helps Top Meme Coins Soar
Historically, Bitcoin and altcoins performed well when the Federal Reserve cut interest rates, and it has happened again.
Many experts believe the recent 50 basis points interest cut is largely responsible for a massive daily trading volume growth of 24.37% across the market and the soar of meme coins.
With the renewed interest in the crypto market, especially the meme coin space, Pepe is one of the largest gainers. Over the last week, Pepe (PEPE) gained 32.13%, which brought it up to $0.00001067.
Floki (FLOKI) also benefitted from the recent market-wide boom, with a 28.95% spike over the last week. FLOKI is now at $0.0001717, but experts believe that it will keep rising, as the mainnet launch of its metaverse game, Valhalla, is scheduled for this year.
Shiba Inu (SHIB) is also pumping, with a 43.46% gain in the past seven days. The coin’s rise to $0.00002036 is accompanied by a 92.27% daily trading volume spike and a 19.88% increase in its market cap over the last 24 hours, which is now at $12.6 billion.
However, some believe the Federal Reserve cut only brought temporary gains, and apsk32, a crypto expert, anticipates a similar market movement to the 2019’s pop and drop in prices.
New Meme Coin Pepe Unchained Raises $15.6 Million in Presale
Pepe Unchained (PEPU) is an upcoming meme token currently in its presale phase, in which it already raised over $15.6 million.
PEPU provides more than memetic appeal, however, with its own Layer 2 network in the works. It aims to build its Layer 2 network on top of Ethereum, allowing meme coin traders to trade their assets with 100x faster transaction speeds at a fraction of Ethereum’s gas fees.
Currently, PEPU costs $0.00986 each, but that price isn’t here to stay, as its ICO follows a dynamic pricing model. That means that the per-token price will increase each time a funding goal is met or enough time passes.
Security-wise, the project’s smart contract has been audited by SolidProof and Coinsult, which found no critical issues. Furthermore, PEPU’s developers allocated 7.5% of the total token supply to liquidity, lowering slippage and reducing the risk of a rug pull.
On top of this, PEPU recently launched its “Pepe Frens With Benefits” program. In Q3 of 2024, select developers will be receiving a grant for their projects on the PEPU chain.
This grant program will incentivize developers to build on top of the PEPU chain, letting Pepe Unchained launch with an ecosystem already built around it.
Crypto All-Stars ICO Gains Momentum As Investor Attention Grows
Crypto All-Stars (STARS) is an exciting meme coin project that’s appealing to degen and utility-driven investors with its multi-token staking protocol, MemeVault.
The project’s popularity already helped STARS amass nearly 20,000 followers on X (Twitter) and Telegram, as its ICO burst through the $1.6 million mark.
STARS currently costs $0.0014652 each, and investors can purchase it using ETH, BNB, USDT, DOGE, PEPE, SHIB, or FLOKI. Alternatively, they can use a credit or debit card.
The presale offers an 885% staking APY, meaning investors can nearly 9x their STARS holdings in a year. However, the dynamic pricing model of its ICO warrants a decrease in the staking APY and an increase in the per-token price as more investors join.
The MemeVault, yet to be released, will allow users to stake various meme coins to passively earn STARS, including Doge, Floki, Bonk, and more. Those already holding STARS will earn more than others, which creates a beneficial cycle for investors and the Crypto All-Stars ecosystem.
ClayBro, a crypto expert with over 130,000 subscribers on YouTube, believes Crypto All-Stars is set to shake up the meme coin space as one of the largest gainers.
Crypto All Stars Making Major Headlines As Top Way To Accumulate Meme Coins!
While the market is uncertain, the MemeVault could tie the meme coin market together, letting Crypto All-Stars explode as the market grows.
