This week, meme coins have shown a mix of developments, from price surges to legal victories. But in the end, meme coins failed to fulfill the hopes of the fans.
Here’s a quick breakdown of the top 10 meme coins and their recent news.
Dogecoin (DOGE) has had a notable week following a court decision in favor of Elon Musk, clearing him of allegations related to Dogecoin manipulation. The dismissal of this $258 billion lawsuit led to bullish sentiment around DOGE, with analysts predicting a potential 15% price surge. Furthermore, Musk hinted at reintroducing Dogecoin as a payment option for Tesla merchandise, sparking further optimism in the community. Yet, none of this helped to maintain the previous weeks gains. DOGE went down significantly (-10%). Not the worst result in our list. But still painful for the majority of investors.
Shiba Inu (SHIB) continues to be a hot topic due to its ongoing ecosystem development. The community has been buzzing about the upcoming launch of Shibarium, a layer-2 blockchain designed to enhance SHIB’s scalability and reduce transaction costs. Although the price of SHIB has seen fluctuations (-9%), the anticipation around Shibarium has kept the community engaged. Some say this might be one of the most exciting project in the blockchain these days.
Pepe (PEPE) has gained significant traction due to its offshoot, Pepe Unchained, raising over $11 million in presale funds. This new layer-2 meme coin aims to overcome the limitations of the original PEPE by offering lower transaction costs and faster speeds. The excitement around Pepe Unchained has sparked discussions about its potential to dominate the meme coin sector. Yet, this week ended with sharp falling for Pepe (-16%).
Dogwifhat (WIF) has been relatively quiet this week with no major news releases, but made headlines with significant price movements (-22%). The coin remains a speculative asset within the meme coin category, primarily driven by community-driven hype rather than fundamental developments. Though it is exactly what some meme coin fans are looking for.
Floki (FLOKI) continues to leverage its strong community support. This week, Floki developers announced plans to conquer DeFi, as some platforms plan to integrate Floki as a utility token within its ecosystem. This development has sparked renewed interest in Floki, although the price movement has been somewhat disappointing (-14%).
Bonk (BONK) has seen a slight uptick in its market activity due to a recent community-driven campaign to burn a significant portion of its supply. The burn aims to increase scarcity and potentially drive up the token’s price. However, the impact on the market has been minimal so far, with the price going down in line with the overall market (-18%).
Brett (Based) has seen some volatility this week. The token experienced a brief surge in price following viral tweets from some crypto influencers. However, the surge was short-lived, and Brett’s price has since synchronized with the market (-19%), highlighting the speculative nature of meme coins driven by social media hype.
Dogs (DOGS) has seen a decrease in trading volume this week, with no significant news or developments. The community remains active, but the lack of major updates has resulted in a subdued market performance with no significant price changes.
Popcat (SOL): Popcat, a meme token on the Solana blockchain, has been gaining traction thanks to a new game integration that rewards players with Popcat tokens. This integration has helped boost interest and trading volume, although the price this week was nothing to write home about. With a significant decline (-25%) Popcat is one of the worst performers in the meme coin segment.
Book of Meme (BOMO) remains in the niche category of meme coins with limited news. This week, the project announced a series of giveaways to increase engagement and attract new users. Despite these efforts, the price of the meme coin was nothing but disappointment (-21%).