Let’s take a closer look at what’s unfolding in the meme coin market and its implications for investors.
Meme Coins Rally, Reversing Last Week’s Losses
Today’s surge is substantial enough to erase the previous week’s losses in the meme crypto market.
Dogecoin saw an 8.4% increase today, turning a nearly 3% decline over the past seven days into a 5.75% gain. Popcat skyrocketed over 20% in the past 24 hours, while the new meme coin based on TON, Dogs, rose by 16.5%, and Brett climbed by 11.4%.
Trading volumes also surged. Popcat’s 24-hour trading volume doubled to $101.5 million, while Dogecoin’s volume increased by 86% to $668 million today.
The overall sector’s rise appears to be more than just a recovery. Some analysts suggest it could mark a significant reversal, potentially even the beginning of a major new bull cycle.
This aligns with seasonal trends. Historically, the cryptocurrency market has seen notable gains in the fourth quarter of the year. Although September is typically a bearish month, the market may be positioning itself for an earlier-than-usual rally this year, with a historical uptrend anticipated in 2025.
It’s worth noting that the crypto market’s surge isn’t limited to meme coins alone. Bitcoin has climbed 4.6% in the past 24 hours, while Ethereum is up 3.2%. This increases the likelihood that more traders will join in on the rally, helping sustain the upward momentum throughout the rest of the week and potentially beyond.
While prominent meme coins are currently on the rise, a new presale cryptocurrency called Shiba Shootout is also making waves.
Is this the next meme coin set to explode? Shiba Shootout Raises $1.1 Million as Analysts Predict Massive Returns
Shiba Shootout, a new meme coin and play-to-earn game dubbed by analysts as ‘the next Shiba Inu,’ has taken advantage of the booming meme coin market.
The project has raised nearly $1.1 million from hundreds of early investors and is gearing up for one of the biggest token launches of the year. Currently, the project’s token, $SHIBASHOOT, is available at a presale price of just $0.0202.
Shiba Shootout transports players to the heart of the Wild West, in the virtual town of Shiba Gulch. The project offers various ways for $SHIBASHOOT token holders to engage, from participating in six-shooter duels to sharing stories around the campfire and even voting on the future of the Shiba Gulch community.
What sets Shiba Shootout apart is its play-to-earn game model, giving players the opportunity to earn $SHIBASHOOT tokens even before they are publicly traded. The mobile game, Shiba Sharpshooter, is already available on both the Apple App Store and Google Play.
Moreover, during the presale, early investors in $SHIBASHOOT can stake their tokens and earn an impressive 858% APY in rewards.
