While Dogecoin was hovering under the $0.1 zone a month ago, it has been unable to break past 0.083 since May. Despite the new wave of meme coin frenzy that has gripped the crypto market, DOGE continues to disappoint investors.
At the time of this writing, the meme coin captain, that boasts the largest market cap of $10B in the niche, is selling for $0.07281. That is 0.4% up on the daily and 8.9% down on the fortnight windows. To give you a better perspective, DOGE has lost 12.6% in the last 30 days.
Dogecoin can break out to $0.09
Although the DOGE price is less than desirable, it has not gone below the $0.07 mark for a few weeks. The solid support level hints at the community strength despite the minor setbacks. The bearish sentiments that painted most of the broader market red over the last few days haven’t affected Dogecoin as one would expect. Even with the global crypto market contracting to $1.14T, Dogecoin bulls are standing firm.
Dogecoin 1-month price overview, 10 May 2023, CoinMarketCap
If Dogecoin miners continue to accumulate the token and wildly optimistic investors hold on to their share of the token, Dogecoin can break out to $0.09 in two weeks. As miner reserves increase, there will be less DOGE supply in the market, putting upward pressure on the Dogecoin price. That will generate close to 28% returns for investors who bought the dip. Even if the price rebound is unsustainable, that’s a decent profit to take home for short-term investors.
Long-term investors, on the other hand, will have to wait longer to see strong price action.
A DOGE Rally to $0.7 is Delusional
The new meme coin frenzy has had many DOGE investors believe that the token is on the path to an explosive bull run. The latest rally, if anything, is draining value from established meme coins like Dogecoin and Shiba Inu. Whales and HODLers, dispirited by the performance of these assets, are looking for younger meme coins that have larger growth potential.
For example, PEPE has generated an ROI of 6861.43% in the last three weeks. The new-age meme coin doesn’t shy away from revealing that it has “no intrinsic value or expectation of financial return, there is no formal team or roadmap, it is completely useless, and for entertainment purposes only”.
But PEPE is past its prime having generated a $758M market cap already. The coin is cooling-off now. It will take at least a few weeks for PEPE to go on another steamy bull run.
Pepe seven-day price overview, 10 May 2023, CoinMarketCap
But emerging meme coins like SpongeBob Token and AiDoge offer explosive investment opportunities now. SpongeBob Token, launched just a week back, was a global phenomenon within hours of going live. In four days, it climbed over 4000% as its market cap surged from $2 million to reach as high as $90 million.
Now on a pullback, SPONGE’s market cap has contracted to $34.49M. But with multiple tier-1 CEX listings in the pipeline, it will bounce back any day now. That could take the market cap to $1B, bringing generous 30X+ returns to investors who bought the dip.
Another excellent meme coin to buy now is AiDoge. The asset is backed by an AI-based meme coin generator that converts text prompts into ready-to-publish memes within minutes. $AI’s exchange launch will kindle the next big 100X bull run in the market this year.
Here is a closer look at SPONGE and AiDoge and how they justify the predictions.
Why SpongeBob Token Will Outperform PEPE
SpongeBob Token was launched amid the meme coin craze incited by PEPE. Both tokens are straightforward about their lack of focus on utility. They explicitly state that they’re useless. But therein lies their strength. Investors have been hoarding these tokens for the last few days, giving a much-needed respite from the broader market’s bearish sentiments.
While PEPE has already bagged the third position on the meme coin chart in terms of market cap, analysts believe that it won’t be long before SPONGE overtakes it.
Here are the key reasons why:
- SPONGE’s locked liquidity with Team Finance speaks for its credibility. It rules out all concerns of rug pulls and scams the meme coin market is notorious for. PEPE has been facing liquidity challenges since its demand gained momentum.
Having learned the lesson from its predecessor, SPONGE has entered the market well-prepared. That also helped the token win the approval of a large community of investors within hours of going live.
- SPONGE has more room for growth than PEPE. With a $758M market cap, PEPE is saturated. That is not to say the token won’t reclaim its all-time high of $1.6B. It will, but that will only accrue 2X returns for new investors.
🧽 $SPONGE will be listing on @MEXC_Global 🧽
🧽 Details: https://t.co/vA3HLoW0Jj
🧽 More CEX listings coming your way ✅#Memecoin #Memecoins $TURBO $MONG $HER $JEFF $RIBBIT $POOH $BOB pic.twitter.com/NQ4MpgUo5O
— $SPONGE (@spongeoneth) May 9, 2023
SPONGE has a larger room for growth. Even if the $34.82M market cap jumps to $340.82M, new investors have 10X returns awaiting them. It goes without saying that emerging assets have higher upside potential than established and blue-chip assets.
In addition, SPONGE is strategically designed to tap into the popularity of SpongeBob SquarePants, a Nickelodeon cartoon series. Released in 1999, it is the most-watched TV show, with a massive number of viewers spread across generations. It is interesting to note that people who grew up watching SpongeBob are now in their late 20s and early 30s. More open to investing in experimental projects, they are the ideal target group of meme coins.
Binance Listing will Fuel a 20X Bull Run for SPONGE
SPONGE’s climb to the top crypto charts within hours of its Uniswap launch and the massive bull run in the following days make it a strong candidate for a Binance listing. The token has already secured listings with MEXC Global, LBANK, CoinW, BTCEX, and Poloniex. The fact that SpongeBob token was the hottest token #1 on DEXTools and the top-performing token on CoinMarketCap during the weekend strengthens its case.
Make sure you grab your SPONGE before the Binance listing catalyzes its demand.
Presale Crypto AiDoge is the Next Big Meme Coin
If you missed out on the PEPE craze, SPONGE opens the next chance to earn up to 25X returns by the end of this month. But don’t limit your portfolio to PEPE and SPONGE. Emerging cryptocurrency AiDoge is waiting for a 100X explosive bull run.
$AI’s fast-moving presale hints at its massive growth potential. Within days of going live, it has crossed the $5M milestone, to the pleasant surprise of early investors.
While AiDoge taps into the brand value of Dogecoin, it has a broader appeal. It combines the three hottest trends of the internet – memes, meme coins, and AI – to onboard a large user base.
Amazing news, #AiDogeArmy! 🎉
We have raised over $5 Million in our #Presale! 🤯💰
🙏Thank you to our entire community, you guys are the best!
Get your $AI tokens today before stage 8 runs out! 😎
👉 https://t.co/5j5tt4smcs#MemeCoin #AiDoge $PEPE $SPONGE $JEFF $BEN $FLOKI pic.twitter.com/PSfG8sSPbh— aidogecrypto (@aidogecrypto) May 10, 2023
With the AiDoge meme generator, anyone can create memes and turn them into an excellent source of side income. With a first-of-its-kind meme-to-earn reward system, it allows meme creators to win votes from the community, climb the monthly leaderboard, and earn rewards from the ecosystem.
The release of the AI-based meme generator will bring massive traffic to the platform, fuelling demand for $AI tokens. That will pave the way for its second bull run. It will be bigger than the first one, potentially taking $AI to the top 3 meme coin chart, dethroning SPONGE and PEPE toward the end of the year.
