For meme coin investors, this week has been nothing short of euphoric. Dogecoin has led the way by doubling in price, but smaller meme coins are taking over.
Dogwifhat has pumped 44% today – can it continue gaining, or is viral presale Crypto All-Stars a better investment?
Investors are pouring into Dogwifhat after it was listed on Coinbase on Wednesday.
Coinbase boasts 105 million users, many of whom lean closer to beginners and have a particular appetite for meme coins and simplistic, less-techy crypto assets.
Quick-footed traders understand this and are buying WIF as quickly as possible. As such, its price surged to highs of $4.59 today
Analyst Sito pointed out that a Coinbase listing was a catalyst in Shiba Inu’s 1,800% ascent to a $43 billion market cap in 2021 – and it happened in just 42 days.
If that’s anything to go by, then Dogwifhat is well-positioned for much more growth in the coming weeks.
Analyst Bluntz predicts a $10 WIF at the beginning of 2025, noting that it’s currently forming an inverse head and shoulders pattern.
Bluntz also highlights that WIF is showing strong trading volume as it breaks out, which increases the likelihood of his $10 target being hit.
Another trader who goes by Contra also looks to targets around $10, pointing out that WIF has started creating higher highs.
With a tailwind from the Coinbase listing and its strength on the current breakout, the $10 mark is certainly within Dogwifhat’s grasp.
But as mentioned, smaller meme coins continue to outperform larger ones on this uptick. For instance, Peanut the Squirrel has soared by 1,500% this week, and nomnom is up 590%.
Meanwhile, there has been a sudden wealth transfer to the Crypto All-Stars presale, which has successfully raised over $3.6 million in funding.
Crypto All-Stars is a new staking application that lets users generate passive income on their meme coins.
The meme coin sector has just reached its highest-ever market cap of over $125 billion, meaning a tremendous amount of liquidity could funnel into the platform.
And here’s the kicker: users must hold $STARS.
The amount they hold determines their staking APY, creating a situation where holders of all the top meme coins are vying for one token.
Crypto All-Stars will start by supporting staking for 11 meme coins, including Dogecoin, Shiba Inu, Pepe, Bonk, and Mog Coin.
However, its website notes that it will add more meme coins later, which will open it to more users and create more demand for $STARS.
The $STARS demand will be tied to the performance of the meme coin market.
And with the meme coin market worth $125 billion, $STARS’ $3.6 million in liquidity could rocket by orders of magnitude as word spreads.
Analyst Cryptomania even says that it could 100x in price.
However, he warns potential investors to “hurry up.”
That’s because the presale price will rise throughout the campaign, meaning those who act fast will secure the best value for money.
Visit Crypto All-Stars Presale
This is a sponsored story. Please conduct your own due diligence and make an informed decision before taking any action. Bitcoin.com accepts no responsibility or liability.
