Dogecoin, the original meme coin which previously shocked the whole crypto community in 2021 with a price increase of up to 20,000%, now appears to have reached its peak, this token only shows a 100% price rise compared to new popular memes such as $HUMP, which managed to increase by up to 200x, mirroring $DOGE’s previous performance. Market experts see this as just the beginning and believe this new memecoin still has greater potential.
The Impact of the Upcoming Bitcoin Halving on Memecoin Trends
Memecoin’s popularity surged in early 2024, coinciding with Solana’s reemergence as a prominent player in the sector. This continued trend represented a shift in overall market sentiment, with investors and traders changing their focus to some meme-inspired assets. The expectation of Bitcoin’s halving, which is planned for later this month also fuels this excitement. Bitcoin halvings, which happen every 4 years have proven to impact the whole crypto market. These are important milestones, besides indicating network capability, it also frequently changes the crypto market sentiment and influences investment behavior. Some important indicators, such as the Bitcoin Fear and Greed Index, can be used to provide more accurate insights from previous halvings. Basically, during halving periods, the greed index tends to rise as some investors and traders eagerly await the start of a bull market. This anticipation itself has been a recurring theme in previous halving cycles, indicating that the upcoming Bitcoin halving will have a huge impact on the ongoing meme coin trend. Right now, most cryptocurrency enthusiasts are preparing for the next halving and there is a sense of excitement and anticipation about the potential outcome. Now, many of them are intently monitoring market conditions and trying to capitalize on potential opportunities.
Experts are Sighting this Memecoin Potential
The recent significant market correction casts doubt on Dogecoin’s future development, despite its position as the most popular and top meme coin with a market capitalization of over $27 billion. Even though Dogecoin itself has experienced extraordinary growth since the beginning of 2024, with its price increasing by more than 100%, this increase is still very small and insignificant compared to the previous increase that occurred throughout 2021. The value of $DOGE dropped by more than 10% recently, and it seems to be stuck there, unable to break through the $0.2 barrier level. Many cryptocurrency specialists find the present performance to be extremely disappointing. They are currently looking into substitutes that have the potential to perform as well as $DOGE did last year. $HUMP and other meme coins have become serious rivals to $DOGE as it starts to lose traction. These coins have garnered interest due to their unique characteristics and impressive capabilities. Additionally, experts believe that the $DOGE rally in 2021 might not outperform the Hump rally.
$HUMP: A Hidden Gem with Potential to Surpass $DOGE Performance
$HUMP, considered the underdog in the market, has seen its price skyrocket by 200 times since its launch on March 29 and it’s listed on Coinmarketcap and Coingecko under one week. More than 6000 active holders are drawn to it as a result of its recent market capitalization that successfully exceeded the $100 million level. Furthermore, additional things that are fueling Hump it’s their extraordinarily unique concept and robust mechanism, distinguishing it from coins designed merely for speculative purposes. This sentiment is bolstered by the growing optimism of investors and traders, who are increasingly welcoming it. This increased acceptance is supporting $HUMP’s durability, even after the crypto market saw a severe downturn a few weeks ago. Its success appears to be directly related to $DOGE, which has been stagnant for some time. Although $DOGE increased tenfold, it remains far from its previous surge, implying that the token may have peaked, especially given its limitless supply, which makes it more prone to inflation.
Will This Token Become the Next 20,000% Memecoin?
By looking at its performance, experts see that $HUMP could become the next meme coin to surge by more than 20,000% in the next bull run. Besides that, some rumors indicate that this coin will soon be listed on the top 10 exchanges in the future.
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