Meme Coins Are Making A New Breakthrough, Is There A Chance?
- Meme coins are skyrocketing after the Bitcoin breakout event.
- Leading in the meme coins is PEPE.
- However, this excess of FOMO is bringing risks for investors later, so this is not a good time for us to get in.
The crypto market is seeing a bullish boom, with Pepe Coin (PEPE) skyrocketing by more than 70% in a week. This has grabbed the interest of crypto investors and fans alike, prompting many to speculate whether other popular cryptocurrencies like Shiba Inu (SHIB), Dogecoin (DOGE), and FLOKI may see a breakout and if the meme coins season has arrived.
Despite the continuing SEC litigation against key exchanges such as Binance and Coinbase, the cryptocurrency sector has shown to be resilient and resilient. The recent recovery was backed further by financial firm BlackRock’s proposal for a spot Bitcoin ETF.
In the middle of this good news, Pepe Coin has emerged as the biggest winner of the crypto boom, gaining more than 40% in only 24 hours. The strong start and community strength of the token has already drawn parallels to Pepe. Wall Street Memes is another popular meme coin that is close to earning $9 million in its presale.
The increase in the value of Pepe Coin is also tied to the broader optimistic atmosphere around the crypto sector, which came as a welcome shift following previous events that sparked fear.
Not only PEPE, but other meme coins like Milady Meme Coin (LADYS), which also spiked over 65% for the week; FLOKI and SHIB saw an increase of nearly 30% in the past seven days.
Notably, the meme coin with the largest market capitalization at the moment, Dogecoin, is not in favor as it has only increased by a modest 6.4% in the past 24 hours.
Be careful, though, as this spike is not sustainable. At this point, we should consider this because if FOMO follows these numbers, it will lead to huge risks. With this major breach comes an unsettling question: Is the frog-themed token on its way downhill again, or may there be a turnaround in store for this once-popular coin? The answer will be yes, but we will not know in advance when it will happen. Maybe another bull run will take place, raising the price of meme coins above expectations or… Hmm!
According to Coincu’s assessment, the meme coins season has not really taken place because other influencing factors remain, such as Bitcoin price, FOMO risk, and unexplained spikes. If an opportunity is needed, we will have to judge more firmly.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
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