During the recent crypto bull run, meme coins have enjoyed their golden age. The top meme coin in the Solana ecosystem has played a major role in this trend, surpassing peers such as Ethereum to become the dominant asset class in the crypto space, accounting for 22% of the market share.
However, the recent market correction seems to have curbed the meme coin craze. SHIB and PEPE are among the two coins that have suffered the most, both experiencing double-digit declines over the past month.
As PEPE and SHIB prices struggle, some savvy investors appear to be moving away from hype-driven meme coins toward more profitable and practical tokens, such as Rollblock ($RBLK). In its third phase, Rollblock’s presale has risen by more than 50%, attracting a large number of crypto whales who may expect to receive up to 100x returns on their investments.
Rollblock has attracted attention for several reasons. First, it is considered a token with strong practical value, not just based on hype. Second, the strong performance in the pre-sale phase shows investors' confidence in its potential. Finally, as the market becomes more rational, investors begin to look for tokens with long-term growth potential and practical application scenarios, which are expected to support their future value growth.
Therefore, Rollblock has become a new favorite among investors in the current market environment, which reflects the changes in market sentiment and capital flows.
SHIB struggles under negative pressure
SHIB sparked a meme coin craze in 2021 when its price rose by nearly 43 million% to become one of the highest-valued meme coins. However, in the recent meme coin season, SHIB's performance has not been as good as that amazing price surge in 2012. From a low of $0.00000543 in June 2023 to a high of $0.00004567 in March 2024, its price has only increased by about 700%.
SHIB has been on a bearish trend over the past 3 months. According to CoinMarketCap, SHIB has fallen by about 40% in the past 90 days. In addition, both cryptocurrency analysts and technical analysts have pointed out that market sentiment is pessimistic, predicting that the price of SHIB may fall sharply in the coming months.
PEPE price holds well above weekly support
PEPE is one of the most popular meme coins in the cryptocurrency space. While PEPE prices have risen significantly this year, that performance appears to pale in comparison to the astronomical gains in Q2 2023.
PEPE coin rebounded from a low of $0.00000086 in February this year to a new high of $0.00001725 in May, a price increase of nearly 1,900%. However, this increase is not too large compared to the historical price set in 2023, when it made PEPE coin the third largest meme coin.
Currently, the price of PEPE seems to be able to maintain the weekly support area of about $0.000009. Nevertheless, the price prediction in the short term paints a bleak picture, and the upside is limited. This has caused quite a number of PEPE whales to abandon the coin and bet their funds on Rollblock in the hope of getting higher returns. If you are still on the sidelines and can't see the market trend clearly, you will only fall because of bullishness and rise because of bearishness. Free ➕👗 ➕🌍 BTC7732
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