The meme coin frenzy shows no signs of slowing down as we kick off a new week. PEPE, the frog-based meme coin, appears unstoppable at the moment, achieving yet another new all-time high following a 13% pump today.
However, Floki Inu emerges as the biggest gainer among top meme coins, with the FLOKI price surging around 17% in the past 24 hours. While these two meme coins steal the spotlight, a new contender is gearing up for launch and could potentially be the next meme coin to explode.
PEPE Price Prediction as Frog-based Meme Coin Flips Polygon (MATIC) in Market Cap
PEPE’s price has pumped 13% today, currently trading around $0.0000168, marking a new all-time high territory. This surge has propelled PEPE’s market cap above $7 billion, slightly higher than Polygon (MATIC), as this meme coin enters the top 20 cryptocurrencies by market capitalization.
The popular crypto analyst Patel, who has a substantial following of 64,000 on X, drew attention to PEPE’s feat of surpassing Polygon’s market capitalization. He emphasized the stark contrast between the two projects, with PEPE being a meme coin while Polygon offers tangible utilities such as scaling Ethereum, facilitating staking rewards, enabling governance voting, and powering decentralized finance (DeFi) applications and platforms.
BREAKING: MEMECOIN $PEPE FLIPS $MATIC IN MARKET CAP 🚀#MATIC Utility:
1⃣ Scales Ethereum
2⃣ Staking rewards
3⃣ Governance votes
4⃣ Pays transaction fees
5⃣ Powers DeFi & DApps😂 And guess what?
Meme coin #PEPE just flipped #Polygon in market cap!Welcome to crypto Guys… pic.twitter.com/kU9VVoLU26
— Crypto Patel (@CryptoPatel) May 27, 2024
Patel’s statement highlighted the surprising nature of a meme coin like PEPE overtaking a project like Polygon in terms of market capitalization, reflecting the sometimes irrational nature of the crypto market.
altFINS provided a detailed technical analysis, suggesting a bullish breakout for PEPE. According to their assessment, PEPE’s price decisively broke above the $0.000012 and $0.000015 resistance levels, confirming an established uptrend. Based on Fibonacci Extension levels, which are commonly used to identify potential price targets, the next key resistance zones were identified at $0.0000164 (100% Fibonacci extension level) and $0.0000211 (161.8% Fibonacci extension level).
While the Relative Strength Index (RSI) indicated an overbought condition with a reading above 70, altFINS noted that the RSI was not overly extended, suggesting that the current momentum could potentially sustain itself without an immediate correction.
altFINS highlighted that PEPE’s price action exhibited a “Resistance Breakout” pattern, which is a bullish signal. When a price breaks above a resistance zone, it typically indicates that buyers have successfully absorbed all the selling pressure from sellers at that level, allowing the price to resume its upward trajectory. Following a resistance breakout, the next closest resistance zone often becomes a viable price target for the asset.
In terms of potential support and resistance levels, altFINS identified the nearest support zones at $0.000012 and $0.0000092, while the nearest resistance zone was highlighted at $0.000021.
Considering the strong uptrend across short, medium, and long-term timeframes, as well as the resistance breakout pattern, PEPE’s price could potentially target the $0.000021 resistance zone in the near future. However, as RSI is in the overbought area, we might see a pullback before the next leg up.
FLOKI Price Analysis
FLOKI is not lagging behind in the current market frenzy. The FLOKI price has surged by an impressive 17% today, reaching $0.00026. Notably, FLOKI’s all-time high of $0.0003, achieved during the 2021 bull run, is not far away.
Bluntz, an X influencer with over 250,000 followers, drew parallels between PEPE and FLOKI’s chart patterns, stating, “I’m getting pre-PEPE all-time high vibes from FLOKI. The chart is looking really nice, in my opinion.”
getting pre $pepe all time high vibes from $FLOKI.
chart looking really nice imo + bonk guy @theunipcs has been all over this one for months. pic.twitter.com/xQwww0uKlk
— Bluntz (@Bluntz_Capital) May 27, 2024
Bluntz’s analysis suggests that if FLOKI continues to follow the same pattern as PEPE, the next price target could be around $0.00045, which represents a substantial upside of around 73% from current levels.
Next Meme Coin to Explode?
While PEPE and FLOKI dominate the meme coin space, a newcomer is preparing to enter the fray. The 99bitcoins YouTube channel, boasting over 700,000 subscribers, featured a video today about Dogeverse, a new meme coin project that raised over $15 million which potentially makes it one of the best crypto presales out there.
According to the video, Dogeverse is promoted as an interesting project due to its multi-chain capabilities, allowing it to operate across various blockchain networks such as Ethereum, Binance, Polygon, Avalanche, Base, and Solana. This multi-bridge technology enhances its utility and sets it apart from other meme coins.
The Dogeverse presale is nearing its end, with only 8 days remaining at press time, so this is your last chance to buy DOGEVERSE before it launches on exchanges in early June. The project has already garnered a community, with over 37,000 followers on X and engagement on platforms like Telegram. The roadmap includes phases of development, marketing, and centralized exchange listings, which are expected to boost the project’s growth and value.
Conclusion
While PEPE’s price continues to surge, setting new all-time highs, and FLOKI pumps as well, so the meme coin frenzy shows no signs of abating. As investors seek the next potential meme coin to explode, Dogeverse emerges as a potential contender, backed by its unique multi-chain capabilities and a sizeable community.
