While the crypto market has seen some bearish price action recently, a few meme tokens are bucking the trend.
Over the past 24 hours, Shiba Inu (SHIB) and Pepe (PEPE) have rallied, showing the resilience of joke coins in the current market climate.
However, a new meme project called Dogeverse (DOGEVERSE) is generating the most buzz – with many touting it as the next breakout star in this niche.
Shiba Inu & Pepe Price Defy Crypto Crash with Resilient Rallies
Since yesterday, SHIB has bounced over 6% to trade around $0.000022, while PEPE is up 5% to $0.0000051.
The green candles for these two tokens stand out more when considering that the broader meme coin market has seen spot volumes contract by 35% over the same period.
That SHIB and PEPE have been some of the only meme coins to withstand the bearishness demonstrates how resilient demand remains for the top “culture coins.”
However, it’s worth noting that these tokens were actually up by double-digit percentages overnight before profit-taking caused a slight selloff this morning.
Regardless, SHIB and PEPE have managed to hold on to most of their gains.
Looking ahead, investors will be hoping they can break through minor resistance levels located just above their current price points.
Should these levels be broken, SHIB and PEPE could have a clear path back to last week’s peaks, representing a 27% to 47% rise, respectively.
Geopolitical Fears & Fed Fears Can’t Shake SHIB & PEPE
The gains made by SHIB and PEPE are even more remarkable considering the macroeconomic headwinds affecting the crypto market.
Over the weekend, geopolitical tensions flared after Iran conducted a series of drone strikes against Israel, spooking investors and leading to a sell-off of risk assets.
Meanwhile, spot Bitcoin ETFs have now seen net outflows for three consecutive days totaling over $58 million, according to SoSoValue data.
These relentless outflows could be attributed to the one-two punch of lingering sticky inflation and comments from Federal Reserve chairman Jerome Powell, who hinted at keeping interest rates higher for longer.
Yet amid all this turbulence, the demand for SHIB and PEPE has persevered.
While the overall sector has been hit, these two coins have remained resilient – which is great news for their “diamond hands” holders.
New Dogeverse Token Brings Multi-Chain Staking to the Meme Coin Space
SHIB and PEPE aren’t the only joke coins defying the meme coin market downturn.
The new kid on the block, Dogeverse, has continued gaining steam – recently passing the $6 million milestone in its presale phase.
Investors have been rushing to buy DOGEVERSE tokens at the current price of $0.000296 before an impending hike kicks in.
But Dogeverse brings much more to the table than a discounted price point.
Its multi-chain architecture allows DOGEVERSE holders to bridge their tokens between Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.
An investor could purchase on Ethereum, bridge to Solana, and immediately start staking using Dogeverse’s protocol to earn a projected 168% APY.
This portable liquidity and staking functionality is helping Dogeverse capture the attention of new meme coin enthusiasts – and those interested in earning passive income over time.
Combine this with a capped total supply of 200 billion tokens (which contrasts with Dogecoin’s unlimited supply), and it’s easy to see why the buzz has been building on social media platforms.
Whether it’s Austin Hilton calling Dogeverse a “very cool” project or the project’s Telegram channel hitting 2,300 members, the momentum signals that this could be a new meme coin to watch in 2024.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
The post Shiba Inu, Pepe Prices Pump Despite Crypto Crash, While New Dogeverse Meme Coin Also Rises appeared first on CryptoPotato.
