#altcoins This trend aligns with a broader shift among traders towards high-beta meme tokens like Shiba Inu (#Shibalnu ) and #Pepe ($PEPE ).

According to Singapore-based crypto-trading firm QCP Capital, traders are shifting their focus to legacy meme coins.

“Traders are shifting focus to higher beta meme tokens like Shiba Inu ($SHIB ), #Dogecoin‬⁩ (DOGE), and Pepe (PEPE), which have seen double-digit gains (10-20%) and are polling in the top 10 for open interest,”

Adding to the#Megadrop optimism, crypto expert Michael van de Poppe projected in a May 31 X (formerly Twitter) post that Dogecoin is poised for a massive breakout in the future, potentially resulting in a price surge of approximately 566% to reach the coveted $1 mark.

The $1 threshold has long been a target price for the meme cryptocurrency.

Dogecoin (DOGE) has attracted significant attention from crypto investors, with a whopping $110 million funneled into the meme coin by whales over the past 72 hours.

This influx signals a renewed interest in $DOGE , which has lagged behind other meme coins in recent gains.

Crypto analyst Ali Martinez highlighted this in a recent post on X (formerly Twitter), revealing that DOGE whales have scooped over 700 million DOGE (worth approximately $112 million).