Recent weeks have seen a number of meme coins surge in price with market leaders like Doge and Pepe witnessing big gains.
While this growth has slowed in recent days, Dogwifhat and Jake the Dog are two tokens that have seen significant growth in the previous 24 hours.
Meanwhile, a brand new ICO meme coin Dogecoin20 is also turning heads after raising more than $10m in its presale.
Unstoppable Dogwifhat Continues Rising
The leader of the meme coin charge in 2024 has undoubtedly been Dogwifhat. Gaining a whopping 2542% since the start of the year, the $WIF token is firmly setting the pace.
Proud of its zero utility heritage, Dogwifhat was built on the Solana blockchain which has so far proven to be the chain of choice for meme tokens.
Launched on December the 20th 2023 with a floor price of $0.1742, the $WIF token saw minimal price action for the first 2 months. That being said, it still managed to grow by around 90%.
However, on the 25th of February all that changed as the token began its charge to the top.
Over the next 5 weeks, the Dogwifhat token grew by more than 1400% to reach an all-time high of $4.80 on the 31st of March 2024.
Whilst the market has witnessed a pullback over the last few days, Dogwifhat has held up surprisingly well and recorded an increase of 3.99% in the last 24 hours and 22% over the last week signifying the tokens underlying market strength.
So what are the chances of finding the next Dogwifhat? Given the low barriers to entry and lack of utility, with the right backing, any meme coin has the potential to explode. This is one of the reasons meme coins are so hot right now.
Regardless of the dormant state of most blue chip cryptocurrencies, from an investment point of view, meme coins keep producing the goods.
Prominent crypto analyst Crypto Bully is one expert who’s bullish on the token:
Strongest coin in the dip was $WIF
— Crypto Bully 🔥 (@BullyDCrypto) April 3, 2024
Insane relative strength
Now if we have/or are close to a bottom for Sol and BTC, does the hat go to $20?
You never want to be calling tops this early in the cycle, so you never know https://t.co/3LOuHvVpNE pic.twitter.com/xzaoPQSYTd
Jake the Dog Also Pumps with Over 20% Rise
Another meme coin that is making waves is Jake the Dog ($JAKE). A Solana-based meme coin, Jake the Dog was only launched on the 27th of March meaning anyone who bought now would be getting in close to the floor price of $0.002381.
As the crypto market bounces back from a week of profit-taking, Jake the Dog recorded a promising price increase of over 20% in the previous 24 hours. Compared to other leading meme coins like $SNEK and $MiLADY, $JAKE is performing very well.
Given the current bullish market sentiment, an investment now could prove to be very rewarding indeed.
Again, with no discernible utility, the team behind Jake the Dog states that the token embraces ‘the decentralized ethos of the crypto world’ and encourages holders to ‘enjoy the journey’. To reassure any investor concerns, the team states that any extra liquidity has been burnt and the token mint has been fully revoked.
Will Dogecoin20 Pump Next After Raising Over $10M?
Anyone looking for an outside bet on the next dog-themed meme coin to blast through the rankings should look no further than Dogecoin20.
Loosely based on the meme coin favorite of Elon Musk, Dogecoin20 is a cheaper, faster and more secure version of the popular token. In fact, Dogecoin20 is just how Elon would have created it.
Because the token has been built to ERC20 standards, the Dogecoin20 token uses a Proof of Stake network rather than the power-hungry Proof of Work.
Furthermore, Dogecoin20 holders can stake their tokens to earn passive rewards.
These rewards are calculated on your share of the overall staking pool. In other words, the more you stake, the more you earn.
A single price for all presale tokens ensures a fair distribution for anyone who wants to buy.
Once the presale sells out the token supply is locked to ensure that the token isn’t dumped on the first day of trading.
With the current trend for dog-themed meme coins showing no signs of abating, an investment in Dogecoin20 could prove to be a very lucrative decision.
Buying your $DOGE20 tokens is straightforward and easy and within minutes you can put your investment to work by staking for passive rewards.
For more information about the project be sure to head over to the official website. To keep up to date on all the latest news and product developments you can follow the project on X and join the exclusive telegram channel.
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