Dogecoin (DOGE), Shiba Inu (SHIB), and most recently, Bonk (BONK) were prime examples of how meme coins are essential for onboarding new crypto users thanks to their relatability, good-natured humor, and close ties to internet meme culture. They have given early-stage investors staggering gains. However, market headwinds have since put a damper on their gains, leading their investors to diversify into high-flying protocols like early presale superstar Pushd (PUSHD).
Dogecoin (DOGE) and Shiba Inu (SHIB) Correct to Pre-ETF Levels
Dogecoin and Shiba Inu were among the pioneers and biggest beneficiaries of the so-called “meme coin summer” of 2021, which coincided with the last Bitcoin halving and bull market cycle. Notably, DOGE and SHIB generated record-setting gains, as they both set all-time highs during 2021. Since then, Dogecoin and Shiba Inu’s gains made after the approval of the Bitcoin ETF have largely diminished and corrected to pre-approval levels. As at press time, DOGE traded at $0.081, falling from $0.088, while SHIB traded at $0.000009621, falling from $0.000010.
Pure meme coins like Dogecoin rely solely on hype for prices to appreciate, and can rise and fall at the drop of a hat (or an Elon Musk tweet). Meanwhile, Shiba Inu has failed to regain traction even as it pivots from being a pure meme coin towards building out more utility for its ecosystem.
Bonk (BONK) Prices Fall After Record 2023
Bonk markets itself as the “Dogecoin” of the Solana ecosystem, recording an eye-popping 16,000% increase in price, peaking at $0.00003416 last December 15, 2023. Since then, however, BONK has faced a massive -59% correction from its all-time high as it traded at $0.00001376. Early BONK investors have mercilessly been taking profits, leading some unfortunate bagholders who bought at the top to brand it as a pump-and-dump meme coin. The fears aren’t unfounded. 45% of the total BONK token supply is with the team, representing 45 trillion tokens that will be dumped on bagholders’ heads in the next year or two.
Decentralized Online Marketplace Protocol Pushd (PUSHD) Surges
Pushd is entering stage 3 of its highly-anticipated presale launch which has drawn over 14,000 registrants barely three weeks since launching. Market analysts are bullish on Pushd’s prospects in challenging traditional ecommerce platforms like Amazon and eBay as it sets out to build a decentralized online marketplace without any of the drawbacks associated with Web2 ecommerce platforms: namely, the exorbitant fees, restrictive KYC and marketplace policies, and anti-competitive practices.
Pushd, besides serving as the Web3 marketplace’s native token, will offer numerous passive income opportunities, such as staking, yield farming, and revenue sharing proportionate to the number of PUSHD tokens an investor holds.
It’s easy to see why DOGE, SHIB, and BONK are selling off their holdings in favor of joining the Pushd presale event; no other presale investment opportunity is as promising as Pushd is right now.
Find out more about the Pushd presale at their official website.