The crypto market loves a good meme coin, and traders have been closely watching as the new dog-themed token Andy (ANDY) gains momentum.
Over the past two weeks, ANDY has seen an explosive price rise and is now trending on DEXTools.
While the ANDY mania unfolds, some investors are already shifting their sights to the upcoming Dogeverse (DOGEVERSE) token launch – which many believe could be the next dog-themed meme coin to pump.
ANDY Token Draws Meme Coin Investors, Hits New ATH Price
ANDY is a new joke token that has experienced a remarkable price and trading volume rise over the past two weeks.
Described as more than just an average meme coin, ANDY represents an emerging community rallying around the iconic Andy character from the “Boy’s Club” series of memes.
The ERC-20 token’s smart contract is even one numerical digit away from Andy’s friend Pepe (PEPE) at 0x68.
ANDY’s performance has been staggering in recent times.
The token recently hit a new all-time high of $0.000144, representing a 315% price pump in just five days.
It’s now ranked #8 on DEXTools’ hot pairs list with over $13 million in 24-hour trading volume.
Impressively, this interest has materialized despite ANDY only being listed on Uniswap and MEXC so far.
With a market cap now above $127 million and over 9,000 holders already on board, speculation is building that further exchanges will want to list this new meme coin sooner rather than later.
Mixed Fortunes for Meme Tokens Amid Market Volatility
However, ANDY’s run hasn’t come without some headwinds across the meme coin space.
While this new token has captured the market’s attention, many established meme coin heavyweights have recently seen their fortunes turn south.
Top dog Dogecoin is down over 15% this past week, while meme rivals like Shiba Inu have also suffered double-digit percentage losses.
Newer tokens like Bonk and Book of Meme on Solana have plunged even harder, shedding over 30% of their value amidst the volatility.
In fact, overall meme coin trading volume across exchanges has decreased by 26% in the last 24 hours, according to CoinMarketCap.
The risk-off sentiment is likely due to several factors: outflows from spot Bitcoin ETFs, rising geopolitical tensions, and the possibility of interest rates staying higher for longer.
So, while ANDY is reaping the benefits of speculation from meme coin “degens,” the broader sector is clearly taking a hit.
Dogeverse Passes $6M in Limited-Time Presale – Next Crypto Token To Explode?
As meme coin traders attempt to navigate the volatility, some are looking ahead to where the next big pump could come from.
And a prime candidate is the recently launched Dogeverse token presale.
Dogeverse represents one of the most ambitious meme coin projects yet – aiming to be the first true cross-chain “doge” currency on Ethereum, BNB, Polygon, Solana, Avalanche, and Base.
The vision is for DOGEVERSE holders to seamlessly traverse this “Dogeverse” and earn rewards on multiple blockchain ecosystems.
So far, the presale for DOGEVERSE has been an enormous success.
In less than two weeks, it has already raised $6 million from early investors looking to get in on the ground floor.
With the presale’s hard cap set at $17 million, the sale is over one-third of the way there at the time of writing.
The explosive demand for DOGEVERSE likely stems from its cross-chain utility and staking app.
This app allows DOGEVERSE holders to lock up their crypto tokens and generate annual yields of 170% at the time of writing.
Dogeverse has even begun to draw attention on social media, with thousands of supporters now active in the project’s Telegram channel.
While still in its early stages, Dogeverse is quickly becoming the most-hyped meme coin presale to hit the market in 2024.
If the team can deliver on its roadmap after the presale’s completion, DOGEVERSE could capture the imagination of the meme coin community – much like ANDY has.
