Meme coin investors are having a rough time lately.
Pretty much every joke token has experienced a loss this week, leaving many wondering if the hype around the sector is finally dying down.
But there are three new ICO tokens that experts think could still take off when the market bounces back.
Meme Coin Market Struggles as Top Tokens See Declines
The meme coin sector is seeing a sharp downturn, mirroring the broader crypto market’s struggles.
With its total market cap plummeting below $45 billion this week, the sector is well into the red.
Spot trading activity has also dwindled.
In the past 24 hours, only $4.3 billion worth of meme coins were traded – a far cry from the frenzy of just a few weeks ago.
Pretty much all meme coins are feeling the pinch.
DogWifHat (WIF) has been hit the hardest, seeing a massive 26% drop in price over the past seven days.
This decline seems linked to the risk-off sentiment sweeping the entire crypto market.
Bitcoin’s (BTC) dip below $65,000 has acted as a catalyst for the sell-off.
And as investors flock to “safer” assets, meme coins, known for their volatility, are bearing the brunt of the correction.
Layer-2 Solution Pepe Unchained Aims to Solve Meme Coin Woes
But it’s not all doom and gloom.
While established meme coins might be struggling, a few new projects are actually attracting the attention of experts.
One that’s become popular is Pepe Unchained (PEPU).
This isn’t just another meme coin trying to cash in on the hype – it’s a whole different idea.
Pepe Unchained is a Layer-2 blockchain built on Ethereum, and it’s designed to supercharge an entirely new meme coin ecosystem.
But what does that mean?
It means faster transactions, lower fees, and better security than the Ethereum network itself.
And it’s tackling some of the biggest problems holding meme coin traders back.
Pepe Unchained also has a staking model where PEPU holders can earn APYs of over 280%.
Unsurprisingly, the ICO phase for this project has been an instant success.
It’s raised over $6.8 million so far and offers PEPU tokens for just $0.0088396 each.
With plans to list on major exchanges soon, PEPU might be one to watch despite the meme coin market’s bearishness.
PlayDoge Combines Nostalgia with Crypto Earning Potential
It’s not just Pepe Unchained that’s doing well.
PlayDoge (PLAY) is another ICO project that’s making serious moves.
This one has a fun twist, combining the iconic Doge meme with retro, Tamagotchi-style gameplay.
Imagine raising your very own digital Doge pet and getting rewarded in PLAY tokens for keeping it happy and healthy.
That’s what is on offer with PlayDoge.
There are also classic 8-bit games and retro arcade-style challenges that’ll take you right back to the ‘90s.
The more you play and the better you care for your Doge, the more PLAY tokens you’ll earn.
Plus, there are leaderboards where you can compete against other players.
PlayDoge’s ICO has already raised close to $6 million, so it’s clear that people are loving the concept.
The project already has an active community on Telegram, too.
So, with many meme coins in a slump, PlayDoge is proving to be a refreshing exception.
Multi-Chain Meme Coin Base Dawgz Sees Uptick in ICO Demand
There’s one more ICO token that’s not letting the bearishness affect it.
Base Dawgz (DAWGZ) is its name, and this dog-themed project isn’t messing around.
It’s a multi-chain meme coin, meaning you can access it on a bunch of different blockchains like Base, Ethereum, Solana, Binance Smart Chain, and Avalanche.
Talk about versatility.
However, there’s more to Base Dawgz than just being on multiple chains.
The token has a staking program where you can earn even more DAWGZ just by locking them up.
And the team is all about building a strong community, which is why there’s a Share-to-Earn model for sharing memes and spreading the word.
Base Dawgz’s ICO has been a hit since it kicked off.
It’s raised over $2.8 million so far, and the investment community is beginning to take notice.
YouTuber ClayBro even said that DAWGZ will “make millionaires.”
With plans for more utility and integrations, Base Dawgz is definitely on the right track – and could be another underdog worth watching.
