Dogecoin is on the cusp of a breakout, according to the technical analysis of the meme coin based on Bollinger Bandwidth. The volatility can take either direction, bringing more engagement to the community. In other words, the period of tranquility is soon to end, paving the way for a surge or a crash.
Although DOGE’s 2.07% climb in the last seven days comes as a respite to holders, analysts believe that it is way past its prime.
Dogecoin will flatline into 2024 in the best scenario
The competition in the meme coin market has grown by leaps and bounds in the last few weeks. New entrants like Pepe are threatening to overthrow the oligopoly of Dogecoin and Shiba Inu. Pepe’s 4000%+ rise within days was a pleasant surprise to the market. It spawned more meme coins, many of which made triple-digit returns for people who bought into the rally early.
The allegations against Elon Musk of manipulating the price of Dogecoin have also worked against the token. The meme coin responds remarkably well to nods from the Twitter CEO. Frictions against him won’t help it rebound. By the looks of it, Dogecoin is awaiting a cascade of sell-offs in the coming weeks.
Despite the current sentiments looking up, Dogecoin’s large market cap confines its potential ROI to fleeting double digits.
Source: CFGI.io
That’s a shame, given that the new wave of meme coin mania is making multifold returns for early investors. Listed below are three cryptocurrencies that are in the spotlight for their explosive growth potential in the coming weeks and months.
1. Wall Street Memes ($WSM) – Potent Presale Crypto Backed by a Global Community
Wall Street Memes is a meme coin project built on the wild popularity of the Wall Street Memes movement, which has over 1 million followers across different social media platforms. It harnesses its large community strength and the viral nature of meme culture to build a crypto that can stand the test of time.
Similar to most meme coins, $WSM will derive its value from speculation and hype more than the utility. As per the website, there is no planned utility for the token. Its purpose is to empower the Wall Street Memes community to gain financial returns from its hype.
The sustainability of the project is further ensured by setting aside 30% of the token supply for community incentivization. For example, Wall Street Memes has launched a $50,000 giveaway contest as part of building exposure around the meme coin presale.
While this may sound like a bizarre goal to investors who are new to the crypto market, it makes perfect sense to speculative traders. They have reaped generous returns from meme coins over the last few years.
A good example this year is Pepe. The token is direct about the fact that it doesn’t have any planned utility or purpose. It is just a fun meme coin. Pepe went on to climb to a market cap of $1.6 billion in a matter of days. Its name is etched in the meme coin history as a successful experiment based on hype.
According to industry analysts, Wall Street Memes is next in line to explode. Multiple factors substantiate the prediction.
To begin with, Wall Street Memes has a global foothold. The community of investors and traders is spread across the world. The quirky posts often go viral for their interesting takes on sensational issues. In fact, Elon Musk has engaged with Wall Street Memes multiple times in the past.
— Wall Street Memes (@wallstmemes) May 30, 2023
The community’s massive reach has expedited the ongoing $WSM presale. It went live to a grand reception in late May and collected $1M in just three days. That makes it one of the fastest presales of 2023, strengthening its bullish predictions on launch. Less than a week into the presale, it is on its way to crossing the $3M milestone.
At this pace, the presale will hit its hard cap of $30,577,000 ahead of schedule. The DEX launch of the token is scheduled for Q4. With the presale moving to an early sell-out, the token’s initial exchange listings are likely to go live in Q3.
A 10-20X surge is a modest prediction for $WSM in the days that follow the token launch. As the hype reaches the broader market, it has the potential to climb up to 50X. Given that Wall Street Memes has a massive community that extends beyond crypto investors, $WSM is one of the few cryptos that can go mainstream this year. It can quite easily dethrone Pepe from the third position on the meme coin chart.
While most meme coins fade into obscurity within a few weeks of the launch, the solid robust community backing and generous crypto reward system will help $WSM retain most of its value. If the team doesn’t lose focus on catering to the meme community while building a meme coin community out of it, $WSM will gear up for multiple bull runs in 2024.
2. AiDoge ($AI) – Meme Coin with AI Utilities
AiDoge is a meme coin that can catalyze an explosive bull run this quarter. The AiDoge presale sold out in May after raising a whopping $14.9M in a few days. It is now preparing for a grand exchange launch, which is predicted to trigger a new wave of meme coin mania.
Investors can still purchase the meme coin at the listing price before its initial exchange launch.
The project combines AI, memes, and meme coins in a first-of-its-kind meme-to-earn environment. Memes are one of the key elements that have defined Web 2.0 and social media. The images that feature quirky remarks take inspiration from popular culture and lay the foundation for large online communities.
Everyone loves memes, but not everyone has the creativity or time to create one. AiDoge’s AI-based meme generation platform changes this. It allows you to make memes by entering simple text inputs. Let’s say you have an interesting idea for a meme that is likely to become a hit among your friends or family. But you can’t think of an image or a caption that best represents it. This is where AiDoge steps in.
The large datasets of the platform, tapping into the latest news and updates, make it easier to create memes. It uses AI algorithms to create contextually relevant memes, trained on extensive meme datasets and crypto news. The high-quality, up-to-date memes have the potential to go viral and bring new users to the platform.
To put it simply, AiDoge taps into the virality of memes to go viral.
Two decades back, AiDoge’s use case might have been received with ridicule. But times have changed. It has high market relevance among the new generation which prefers to communicate through memes more than texts and phone calls. Memes make bonds. Memes strengthen bonds.
And therein lies the large growth potential of the meme coin. The project targets young investors who have a key role in bringing meme coins to the mainstream.
Important reminder #AiDogeArmy!
Mark your calendars; Claim & Launch will be happening on the 19th of June!
You’ll be able top claim your $AI tokens directly from our website, it’s that simple!
Join our Discord to stay updated!
https://t.co/NRGMq33Fqq pic.twitter.com/6edBIUDp8o— aidogecrypto (@aidogecrypto) May 30, 2023
- You need $AI tokens to purchase credits on the platform and get access to its various AI-powered meme generation tools.
- You can stake your $AI meme coin holdings to earn daily credit rewards and access the platform features.
The method ensures that there is long-term engagement on the platform, which in turn supports its stability.
It also features a public wall, which is a dynamic space where you can discover and share AI-generated memes. You can navigate the sea of memes using filters and sorting options, based on popularity, date, or specific themes.
Being backed by one of the most creative crypto projects of 2023, AiDoge can potentially give triple-digit returns to investors who buy it at the listing price.
3. Ecoterra – Green Crypto that Can Bring Web 3.0 to the Mainstream in 2023
The third token on the list is not exactly a meme coin. But it is a penny crypto that you can now buy at an ongoing presale that is past the $4M milestone. Ecoterra, if you haven’t already guessed from the name, is a green crypto backed by a sustainability project. It introduces a large blockchain ecosystem that can emerge to become one of the widely used tools against rapidly growing climate change.
One of the key components of climate action is recycling. However, there are few initiatives dedicated to promoting recycling due to its complex nature. Recycling is difficult to execute and follow up. It needs space, resources, and more importantly strong will. Despite recycling being a major branding tool, it has still a long way to go in terms of execution.
Ecoterra wants to boost recycling initiatives. It believes that blockchain technology can bring significant change as it is an excellent foundation for projects that require global coordination. Ecoterra has a robust crypto incentivization system that motivates people to recycle items in exchange for attractive rewards.
In addition to the recycle-to-earn app, the ecosystem features a carbon credit marketplace and a recycled materials marketplace.
The green mission ingrained in the sustainability market gives the project large scope for mainstream adoption this year. Especially from brands and celebrities on the lookout for projects that can make a global impact.
If NFTs and metaverse assets had their attention in 2021, green cryptos are in demand in 2023. The trend is here to stay as blockchain technology can make tangible contributions to climate action. This is especially evident when it comes to coordination, transparency, and efficiency.