Bitcoin price reaching the $100,000 milestone made the meme coin supercycle inevitable, and it now appears to be underway.
Whales are aggressively accumulating major meme coins, now joined by a wave of retail investors drawn back into the cryptocurrency market by Bitcoin’s rise to $100,000.
The market capitalization of meme coins increased by 6% on Sunday and several major tokens such as Pepe (PEPE) have already reached a new all-time high. Solana meme coins Popcat, WIF and PNUT have also formed a local bottom and are breaking through key resistance levels.
New meme coins like Catslap are also in high demand. The price of SLAP has already risen 6000% since its launch, and some prominent investors are still hoping to make significant profits.
Pepe, Dogwifhat and PNUT Prices Soar: Is It Time to Bet on Meme Coins?
Ethereum’s leading meme coin, Pepe (PEPE), is leading the current meme coin rally, hitting a new all-time high of $0.00002644 in the early hours of Sunday. In the rally, the leading frog-themed meme coin surpassed the $11 billion mark.
The token has since corrected to $0.00002477, but appears poised for a bullish continuation considering it has broken above its multi-week resistance trendline.
Pepe’s daily trading volume has also impressed experts. Being available for trading on Tier 1 exchanges such as Binance, Coinbase, and Dogwifhat, it currently records a volume of over $7.6 billion, the sixth highest of any cryptocurrency on CoinMarketCap.
Some analysts like Crypto Bratan are extremely optimistic about Pepe’s near-term profit and project that it will reach the $20 billion mark before the end of the year.
$PEPE CLOSED A CLEAR DAILY CANDLE ABOVE ALL RESISTANCE!!! $PEPE 20B MARKET CAPITAL IN 9 DAYS
AND WITH IT THE INEVITABLE FLIGHT OF $SHIB BY $PEPE pic.twitter.com/9RqOU4SLtg
– Crypto Bratan (@cryptobratan1) December 8, 2024
Solana’s top meme coin, Dogwifhat, is also poised for a big rally.
Bybit Trader blunt signals that WIF price has broken the upper limit of its accumulation range with high volume.
Wearing Elliot wave theoryBluntz projects that Dogwifhat’s price could reach the $10 mark in the first quarter of 2025.
Another prominent analyst, CryptoJack, also highlights that WIF has formed a bullish cup and handle pattern on its 4-hour time frame, which has a price target of $6.50.
Dogwifhat is currently trading at $3.73 with a valuation of $3.7 billion and an impressive daily trading volume of $1.4 billion.
Some investors are eyeing another Solana meme coin, Peanut The Squirrel. Following its all-time high of $2.27, the meme coin sensation saw a steady decline. However, experts signal that it has formed a bullish rounded bottom pattern, suggesting that the PNUT coin could break out again.
Some analysts believe that new buyers may see significant returns from the meme coin before the end of the year.
Investors expect big profits from Catslap
Some investors are keeping an eye on small-cap memes that could offer outsized returns in the next supercycle.
Slap (slap) has emerged as one of those microcap tokens that has caught your attention. The meme coin was launched on Uniswap in late November with a trading price of $0.0001179. In three weeks, it has already reached an all-time high of $0.01, representing a staggering 8,400% growth.
SLAP is currently trading at $0.00738, primed for a major breakout from a bullish pennant on its 4-hour chart. A daily close above the upper trend line could pave the way for a new all-time high.
Catslap is a meme coin with strong fundamentals, including a deflationary token supply, due to its regular burn events and buyback program.
The popular game Slap-To-Earn, which allows players to slap public figures like Chris Brown, is also linked to its recording schedule. A portion of the token supply is burned when the “slapometer” reaches certain milestones.
Additionally, Catslap has strong community support, as is typical of all viral meme-inspired tokens. His token holder is approaching the 15,000 mark, while his social media accounts are also seeing impressive growth.
The meme coin has now gone live on Tier 1 CEXs and launched earlier this week on MEXC. The Catslap website has another countdown to a “major announcement,” which could mean there will be another top-tier listing on CEX soon.
Unsurprisingly, some crypto experts are optimistic about the meme coin’s bullish potential, with few calling it the next meme coin to explode. Considering its small-cap valuation of just $33 million, the projection might not be a pipe dream.
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