Meme coins are performing pretty well this weekend, with the Ethereum-based PEPE leading the charge with a notable 11% pump, propelling its market capitalization to $6.5 billion.
The WIF price is also exhibiting decent performance, while the SHIB price appears to lag behind. Let’s delve into the details of these meme coin price predictions.
PEPE Price Forecast
Following today’s 11% surge, PEPE’s price is trading around $0.000015, an area close to another all-time high (ATH). PEPE has broken through ATH levels multiple times in May.
One of the most influential crypto analysts on X, with a follower base exceeding 630,000, expressed his bullish sentiment towards PEPE. He pointed out that PEPE’s current market capitalization stands at only $6 billion, while DOGE reached $75 billion market cap during the previous cycle, and SHIB nearly touched $50 billion. The analyst confidently stated that these figures suggest PEPE still has substantial upside potential.
This statement suggests a prediction that PEPE could potentially reach the market capitalization levels previously attained by DOGE or SHIB during the previous bull run. Additionally, Altcoin Sherpa, with over 216k followers, also announced his intention to buy PEPE today.
$PEPE is only at a $6B mcap.
DOGE hit a max mcap of $75B last cycle, and SHIB hit nearly $50B.
I think it’s safe to say there’s still plenty of upside for the frog. pic.twitter.com/Dp9f76Bcsu
— K A L E O (@CryptoKaleo) May 24, 2024
From a technical perspective, PEPE’s Relative Strength Index (RSI) is hovering between 60 and 65 across all time frames, indicating that the asset is neither overbought nor oversold. Furthermore, the Moving Average Convergence Divergence (MACD) line is now above the MACD signal line, signaling a bullish momentum.
As Ethereum ETF approvals have become a reality, they might have a positive impact on PEPE’s price as well, considering PEPE is the hottest ERC-20 token of this bull run. Based on these factors, PEPE’s price could potentially continue its upward trend in the near future.
dogwifhat (WIF) Price Analysis, SHIB Price Lags
WIF, once ranked as the third-largest meme coin in the world in terms of market capitalization just a few weeks ago, even surpassing PEPE, has now fallen behind with a market cap of around $3 billion following PEPE’s recent pump.
WIF’s price currently stands at $2.9, while its ATH was set in late March at around $4.8, indicating that it’s trading considerably below its peak. This suggests that the market sentiment is gradually shifting from Solana-based meme coins to Ethereum-based meme coins.
Technically, WIF’s MACD line is below the MACD signal line, signaling a potential bearish momentum. Additionally, the RSI is hovering around 50, suggesting a neutral market sentiment. Considering these factors, WIF’s price action could potentially experience a slow period in the upcoming days.
When it comes to SHIB, the price has not performed well recently, making it the worst-performing meme coin among the top six by market capitalization this week.
The Shibarium ecosystem’s statistics are also not encouraging, with low levels of new account creation and daily transactions. SHIB’s RSI is around 60, indicating a slightly overbought condition. However, with a strong community backing SHIB, a price pump could occur at any given moment. Despite its recent underperformance, SHIB remains the largest Ethereum-based meme coin, boasting a market capitalization of $14 billion.
What Are The Best Meme Coins to Buy Now?
YouTuber Jacob Bury, with around 40k subscribers, recently posted a video highlighting the top meme coins to buy now, with a particular emphasis on Dogeverse. Dogeverse is a multi-chain meme coin, offering vide accessibility. The project has robust cash flow and backing, enabling it to undertake large-scale initiatives. It also supports staking, offering a 52% annual return, with 30.5 billion tokens currently staked.
The presale for Dogeverse ends on June 3rd at 10:00 AM UTC, with the claim launch date set for June 5th at 10:00 AM UTC. The project’s market capitalization will be approximately $20 million, with a token supply of 200 billion tokens, as per Bury.
While the speaker highlights Dogeverse’s upside potential, suggesting it could become a top 20 meme coin with the possibility of reaching notable price points like $0.01 or even higher, they also advise caution due to the speculative nature of these predictions.
Another notable project is WienerAI, a new AI/meme coin hybrid described as “Part Dog, Part Sausage, Part AI Trading Bot.” WienerAI raised almost $3 million during its presale, showcasing the growing interest in combining meme culture with technologies like AI.
Conclusion
To sum it up, the meme coin space continues to capture investors’ attention with its potential for gains. While the PEPE price appears poised for further growth, WIF’s trajectory remains uncertain, and SHIB’s performance has been lackluster. Additionally, projects like Dogeverse and WienerAI offer investors potentially new opportunities to explore in the meme coin ecosystem.
