Memecoins
Top 4 Meme Coins to Buy for 50X Profit as GameStop (GME) Stock Soars
Prices in the meme coin sector have shown the potential to rise as traditional stock market investors turn to GameStop (GME). The GME stock price has seen a modest rise since late last week, rising from $17.50 to $23.33. Yahoo finance the data shows. Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) tend to mirror the movements of meme coin stocks.
Since last week, attention has gradually shifted to meme stocks like GamesStop and AMC Entertainment Holdings (AME), a movie theater chain. For some investors, the drastic increase in the value of meme stocks is often a sign of euphoria.
This hype tends to spread across the cryptocurrency market, impacting coins. GameStop mania spread to $DOGE and other meme coins,” during the 2021 bull market.
1. Meme Coins to Buy – Dogecoin (DOGE)
Dogecoin (DOGE), a popular cryptocurrency based on the beloved “doge” meme featuring a Shiba Inu, has recently seen a notable increase in value. Currently holding a market capitalization of $22.75 billion, Dogecoin ranks eighth among all cryptocurrencies and is the leading meme coin.
THE Dogecoin Price surged to $0.1628, marking a 5% decline over the past day. This makes Dogecoin a potential crypto to sell if Bitcoin falls to $65,000 before June.
Dogecoin Price Chart
Over the past year, Dogecoin has surged 124%. This remarkable growth is underlined by an upsurge in major transactions, a sign of significant investments from major players or “whales”. This trend suggests increased interest in Dogecoin.
2. Shiba Inu (SHIB)
The second largest piece of money hovered at $0.000026 on Tuesday. The bulls recovered the losses suffered in the last 24 hours, confirming the positive outlook for this week.
As trading volume approaches $1 billion, interest in SHIB is set to grow. This could increase the chances of a breakout above $0.00003 and then to $0.000035.
Stronger support has been established along the ascending trendline. Additionally, Shiba Inu’s position above the 200-day exponential moving average (EMA) supports the uptrend despite the correction from the Q1 peak at $0.000038.
Shiba Inu Parts Price Chart | Commercial view
Now that Shiba Inu Coin has climbed above two other critical EMAs: the 20-day and 50-day EMAs, the path of least resistance is gradually moving upward.
If the price breaks the first solid hurdle around $0.000028, a stronger breakout above $0.00003 will appear. Investors who have been on the sidelines could flock to the market, creating FOMO and intensifying the breakout towards $0.000035. Shiba Inu Coin may take another step above the Q1 peak in June, setting the tone for the bull run.
3. Pepe Coin (PEPE)
The frog-themed meme coin, Pepe Coin, managed to maintain a resurgence in May. This rally was mainly driven by the recent approval of Ethereum and Bitcoin spot near the $70,000 mark. However, this week, PEPE’s recovery momentum slowed down, accompanied by a decrease in trading volumes, indicating the potential start of a new correction trend.
Pepe Coin Price Chart
An analysis of the daily calendar shows that the PEPE The coin price has seen a steady recovery over the past six weeks under the influence of an ascending trendline. The series of new higher lows indicates an active accumulation trend that took this memecoin from $0.00000393 to $0.000016, registering a 300% jump.
4. Dogwifhat (WIF)
The 8% rise in Dogwifhat price over the past 24 hours has sparked renewed interest among crypto investors. The price of WIF at the time of publication is $3.24, representing an increase of 15.5% over the last 7 days.
Currently, the WIF Price is in an ascending triangle, having already tested the upper limit twice – maybe the third time will be the charm. But after being rejected twice, this resistance around $3.5 could prove difficult to break.
Dogwifhat price is trading above the 50-day and 200-day simple moving averages, although price action has been quite closely tied to the indicators in the recent past.
Dogwifhat Price Chart
The WIF price rise occurred around the same time that a Solana whale spent 17,966 SOL (approximately $2.98 million) to purchase 953,177 WIF. The whale managed an entry of around $3.13 and is currently showing a profit of 3.51%. The whale alone increased the price of a WIF by about 7%.
On May 21, this whale also spent around 1 million USDC to purchase 355,417 WIF at $2.81. The whale then sold the next day for $3.07, making a profit of $90,000. This data highlights the importance of whale involvement in crypto markets.
Final Thoughts
Meme coins tend to move by large margins, whether up or down. The new hype in the sector promises a significant rise in the price of tokens like DOGE, SHIB, WIF and PEPE. Careful diversification into these tokens could have a positive impact on crypto portfolios, paving the way for better prospects.
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