Memecoins
Memecoin BullRun: Dogecoin, Dogwifhat and Pepe price prediction this week
Memecoins have taken the crypto world by storm, and some popular ones have recently generated remarkable returns. This trend suggests that 2024 could be the year of memcoin. A major advantage of memecoins is their extensive, dedicated community support, which drives interest and engagement. However, they are also known for their high volatility and speculative nature. To understand what the future might hold for memecoins, it is crucial to study current trends and historical price patterns. Let’s do a quick analysis!
1. Top Memecoins by Market Cap
Dogecoin, Shiba Inu, Pepe, Dogwifhat, FLOKI, Bonk and BOOK OF MEME are the top seven memecoins by market capitalization.
| Coins | Market capitalization | 24 hour volume |
| Dogecoin | $22,381,955,751 | $1,766,495,970 |
| Shiba Inu | $13,929,310,798 | $613,538,036 |
| Pepe | $3,447,697,985 | $987,574,974 |
| dog hat | $3,299,740,378 | $867,821,575 |
| FLOKI | $1,725,588,848 | $208,392,422 |
| Bonk | $1,636,512,521 | $280,697,213 |
| MEME BOOK | $811,859,858 | $369,462,889 |
Let’s analyze these seven best memcoins.
1.1. Analysis of 30-day changes of major Memecoins
| Coins | 30 day change |
| Dogecoin | -20.9% |
| Shiba Inu | -17.2% |
| Pepe | +15.8% |
| dog hat | -9.5% |
| FLOKI | -12.7% |
| Bonk | +6.5% |
| MEME BOOK | -17.9% |
According to the 30-day change analysis, among the top seven memecoins by market capitalization, only two memecoins show a positive change: Pepe (+15.8%) and Bonk (+6.5%). Others demonstrate a negative change: Dogecoin (-20.9%), BOOK OF MEME (-17.9%), Shiba Inu (-17.2%), FLOKI (-12.7%), and Dogwifhat (- 9.5%).
1.2. Top Memecoins 7 Day Change Analysis
| Coins | Change over 7 days |
| Dogecoin | +8.4% |
| Shiba Inu | -1.6% |
| Pepe | +10.7% |
| dog hat | +23.8% |
| FLOKI | +6.1% |
| Bonk | -1.1% |
| MEME BOOK | +19.8% |
According to the 7-day analysis, among the top seven memecoins by market capitalization, at least five show positive changes: Dogwifhat (+23.8), BOOK OF MEME (+19.8%), Pepe (+10.7 %), Dogecoin (+8.4). %), and FLOKI (+6.1%). Conversely, Shiba Inu recorded a negative evolution of -1.6% and Bonk -1.1%.
2. Three Top Memecoins to Watch in May
Dogecoin, Dogwifhat and Pepe are the three important Memecoins to watch out for in May. Dogecoin is important because it is the largest memecoin in terms of market capitalization. Although its 30-day change index is not impressive (-20.9%), its 7-day change index is +8.4%. Dogecoin becomes the most suitable in this list as it marks a powerful seven-day change of +23.8%, which is the highest in terms of 7-day change among the top seven memecoins by market capitalization. Pepe is a natural entrant into the roster, as he is the only piece that has shown consistent performance. It records a positive 30-day change of +15.8%, as well as a positive 7-day change of +10.7%.
2.1. Historical Price Analysis of the Top Three Memecoins
Let’s analyze the price history of the top three memecoins.
2.1.1. Historical Dogecoin Price Analysis
The current price of Dogecoin is $0.15561. At the start of 2024, it was around $0.09166. Between February 26, 2024 and March 4, 2024, it experienced a strong upward trend, during which its price increased sharply from $0.08961 to $0.18290. On March 28, it reached a high of $0.22030.
2.1.2. Dogwifhat Historical Price Analysis
The current price of Dogwifhat is $3.23. At the start of 2024, it was around $0.17. Between February 24 and March 14, it experienced a strong uptrend, increasing its price from $0.34 to $3.15. The price reached its high of $4.57 on March 31.
2.1.3. Pepe Historical Price Analysis
The current price of Pepe is $0.00000811. As of mid-February 2024, Pepe’s price was as low as $0.00000122. Between February 24 and March 8, it experienced a period of uptrend. During the period, its price increased from $0.00000130 to $0.00000900. Its price reached its peak of $0.00001005 on March 14.
3. Overall Memecoin Price Prediction
Analyzing the price history, it is clear that these three memecoins saw a strong upward trend between late February and early March. None of these memecoins have seen a big decline since then. It appears that the bullish trend adopted by these coins in late February remains intact. Although at this point these three cons are showing negative changes over 24 hours: Dogecoin (-4.8%), Pepe (-5.2%) and Dogwifhat (4.2%), the price analysis is reassuring on the fact that the underlying sentiment is favorable to the coins. .
Endnote
While some analysts are excited about the memecoin market’s recent progress, others point to high volatility and a lack of strong fundamentals as potential obstacles to long-term growth. These critics argue that without a clear purpose or underlying value, memecoins may struggle to maintain momentum over time, suggesting that their popularity may be more speculative than sustainable.