Memecoins
two other memecoins follow its trajectory
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Memecoin Adoption Skyrockets, Market Cap Reaches $64 Billion. Pepe jumps 900%, eyes on Floki and KangaMoon for potential rallies.
Over the past few months, memecoin adoption has skyrocketed, pushing the memecoin market cap to an all-time high of $64 billion over the past few days. Among the memecoins that have seen massive rallies is Pepe, which is up over 900% in the past 12 months. With Pepe booming, analysts are looking at other prominent memecoins that could spark massive rallies like Pepe. After the latest token burn, Floki (FLOKI) is one of the tokens intended to replicate the rally. Additionally, KangaMoon (KANG) listing will be available soon, which is expected to trigger massive rallies.
KangaMoon Price Expected to Explode After Bitmart Announcement
With the KANG presale now in the bonus phase, the BitMart CEX exchange has made a big announcement. The popular CEX announced the upcoming listing of KANG. This led to a massive rush to accumulate the token. So far, over 10,000 people have purchased the presale and over 32,000 community members. The team raised $7,443,834,229 in pre-sales, which will likely hit $8 million this week.
The price of KangaMoon’s native token, KANG, has skyrocketed over the past few weeks, from $0.0050 to $0.025. Essentially, early buyers got a 400% return. As one of the leading memecoins in the market, analysts predict the price will reach $0.5 in the third quarter and $1 before the end of 2024. As such, KANG is on track to become a future top crypto.
For context, the KangaMoon ecosystem is a mix of the GameFi and SocialFi models. Through the play-to-earn feature, users will connect with players around the world and engage them in battles to test their skills. Additionally, the socialFi model allows users to participate in weekly, monthly, and quarterly challenges and win prizes. Users who win matches are rewarded with virtual currency and rare in-game items.
As a community of meme enthusiasts, the KangaMoon team has mapped 25% of the total token supply, representing 250 million tokens for in-game rewards. As such, users are rewarded with tokens KANG when engaging in KangaMoon social media activities such as the ongoing Kangameme competition. Overall, with its goal of opening up the billion-dollar NFT market, KANG will likely dominate the memecoin market soon.
Pepe price sets new record as bear market returns
Pepe price has set a new price record in recent days as the memecoin market sees a massive rally. According to market data from CoinMarketCapPepe price broke through the $0.000050 resistance zone over the past few days, establishing a new ATH of $0.000017.
However, the return of the Bears caused Pepe’s price to drop. Meanwhile, key market indicators, such as Pepe’s trading volume, are optimistic. Thus, a rebound, or even a rally, could be on the horizon. While some analysts anticipate a price correction, the Pepe Fear and Greed Index sits at Greed (74), signaling that Pepep is in the buy zone.
Can the Recent Floki Token Burn Spark a Rally?
After the decisive vote, which saw the Floki DAO burn over 15 billion tokens, analysts believe a rally is imminent for the token. Market data shows that the price of Floki has increased by 64% over the past month. However, the ongoing market retracement has pushed the price lower, with slight gains of 14% over the past week.
Meanwhile, Floki’s trading volume and market cap are bearish with most key market indicators not showing positive signs. Even so, some analysts believe that Floki is one of the memecoins to watch in the coming weeks. With the recent launch of the Floki trading bot and the launch of Floki perpetual trading features in Coinbase, Floki is poised for increased adoption, positioning it as a premier memecoin investment.
To find out more, visit Kangamoon official website or follow the project via Telegram.
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