Meme coin madness appears to be back in full force.
Over the last 24 hours, tokens like Bonk (BONK), dogwifhat (WIF), and Pepe (PEPE) have been ripping higher due to renewed speculative momentum.
This latest bout of meme mania has also benefited the presale of Dogecoin20 (DOGE20), which just blew past the $8 million milestone.
BONK & WIF Lead Meme Coin Market Rebound
BONK, the Solana-based token that took the scene by storm just a few months ago, has tacked on over 6% in the past 24 hours.
The pump has BONK trading back above $0.000022 and challenging its 20-day exponential moving average (EMA) on the daily chart.
But BONK has been outpaced by the trending WIF token.
WIF is on a tear today, up a staggering 23% at the time of writing.
This surge has pushed WIF to $2.80 per token, clearing multiple minor resistance levels in the process.
WIF has also sliced through its 20-day EMA on the 4-hour chart – suggesting that the short-term trend has likely flipped bullish.
The buying frenzy has seen 24-hour trading volumes for both tokens go through the roof.
WIF has a whopping $479 million in spot volumes on the day, while BONK has seen over $169 million in trading activity.
Meme Speculation Ramps Up as Base Network Takes Center Stage
While BONK and WIF have led the charge, they’re far from the only meme coins catching a bid.
PEPE, the iconic frog-themed token, has also seen a surge in demand – and is up around 4% in the past day.
However, the rising tide seems to be lifting virtually all meme coins at the moment.
Relatively under-the-radar plays like MOG Coin (MOG) and Toshi (TOSHI) have also produced double-digit percentage gains.
One potential catalyst for this uptick could be the growing buzz around Coinbase’s Layer-2 solution, Base.
The Base network has rapidly ballooned to over $880 million in total value locked (TVL) as it becomes a hotbed for meme coins and airdrops.
With its low fees and Coinbase’s massive user base as a backbone, many investors are hopeful that Base could follow a similar trajectory to Solana, laying the foundation for the next cycle of viral meme coin growth.
So, while the recent price action may simply be the result of retail traders going meme coin hunting again, Base’s rise suggests tangible forces could also be at play.
Dogecoin20 Presale Demand Intensifies Thanks to Staking Rewards & Fixed Supply
As virtually every meme coin posts gains, one upcoming project is generating immense buzz of its own – Dogecoin20.
The hype surrounding this “DOGE upgrade” has intensified so rapidly that its presale has now raised over $8 million in just a matter of weeks.
For those not in the loop, Dogecoin20 represents a new take on the meme coin phenomenon pioneered by Dogecoin itself.
The DOGE20 token aims to elevate Dogecoin’s legacy by introducing features like staking rewards and a fixed token supply.
According to the project’s website, DOGE20 holders can earn yields as high as 119% per year by staking their tokens on Ethereum.
This promise of passive income generation has been a key driver behind Dogecoin20’s explosive presale activity.
But it’s not just the staking rewards that have meme coin investors excited.
DOGE20’s anti-inflationary tokenomics, with a fixed supply of 140 billion tokens, could allow for immense price appreciation if the token attains just a fraction of Dogecoin’s usage.
Whether DOGE20 can reach such heights remains to be seen, yet YouTubers like Matthew Perry have already begun promoting the coin on their channels – adding to the FOMO.
With the broader frenzy showing no signs of slowing, Dogecoin20’s presale could just be getting started.
#Bonk #dogwifhat #Pepe #Surge
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