The post Shiba Inu and Dogecoin Benefit From Crypto Market Recovery – Best Meme Coins to Buy Now appeared first on Coinpedia Fintech News
Liquidity is flooding back into the crypto market today, and meme coins are the first call of order for many traders.
Frontrunners Dogecoin and Shiba Inu have both booked notable gains, but some smaller alternatives could provide even more returns.
DOGE and SHIB Rally as Crypto Prices Recover
Dogecoin and Shiba Inu have outpaced the broader crypto market today.
The industry’s total valuation is up by 3.4% and has been green for consecutive days.
However, Dogecoin has jumped 6.8% today, and Shiba Inu has climbed 9.1%, at the time of writing.
The move reflects traders’ risk appetites dialling up as expectations grow for a bull market continuation.
Crypto prices have been in dismay recently, but the landscape is changing quickly.
This is because Germany has sold all of its Bitcoin holdings, Bitcoin ETF inflows are rising, macroeconomics are stabilizing, and expectations for pro-crypto candidate Donald Trump to regain his presidency are growing.
germany can only sell the seized #bitcoin once. at the rate they're going they'll rage sell the last 5k of it today. this time around #bitcoin ETF buyers were buying up the stream of sells too, welcome to the party guys pic.twitter.com/dIJ4ulbcMN
— Adam Back (@adam3us) July 11, 2024
Currently, DOGE is trading at $0.1251. It is up 15% this week but down 7% this month.
Its 24-hour trading volume is $914 million, having shot up 61% today.
Analysts are bracing for further growth.
JD alludes that Dogecoin’s bottom is in and will now commence a rally toward $1.
#Dogecoin – One of the most beautiful chart structures I've seen! Dumb Money who got REKT will deny! Glad we called the 45% crash from Local top posted on Patreon/Discord! MAJORITY of my orders have been filled! #DOGE is getting ready for something BIG! $DOGE… pic.twitter.com/OodL39WjDR
— JD (@jaydee_757) July 16, 2024
Meanwhile, SHIB is trading at $0.00001961, up 19% this week and down 4% this month.
Its 24-hour volume has exploded today, up 112% at $540 million.
Analyst Lola underscored the bullish outlook for Shiba Inu due to impending Ethereum spot ETFs.
According to Lola, SHIB could rally on the back of the ETF launches, which could occur later in July.
There are rumors that ETH Spot ETFs might come in sooner but do YOU know that #SHIB is the second highest in market capitalization after ETHER in ETHEREUM Blockchain ? Yep! We rock like that #SHIBARMY so if this spot ETF will come then expect FOMO on Shiba INU because we got… pic.twitter.com/5aAKSWNBlU
— Lola (@CryptoLollla) July 16, 2024
Best Meme Coins to Buy This Week
It’s an exciting time for the market leader meme coins, but newer tokens have also been performing strongly since the market’s recovery.
Let’s explore the best meme coins to buy now for potential gains.
PlayDoge
PlayDoge is first on our list. It’s much more than another run-of-the-mill meme coin.
It’s developing a cutting-edge game and launching it in the most mainstream places: the Apple App Store and Google Play Store.
The game is based on the hit 1990s Tamagotchi outlay but introduces a Play-to-Earn (P2E) model.
Like the original game, users will care for their virtual pet, ensuring it is fed, rested, and entertained.
However, the stakes are much higher with PlayDoge because real crypto rewards are at play.
It’s a concept that appeals to nostalgic fans of the original Tamagotchi, P2E enthusiasts, and value-seeking investors.
PlayDoge also has a staking mechanism that provides an 86% APY. However, this will decrease as more holders stake their tokens.
The project is currently in its presale and has raised $5.7 million.
Currently, the $PLAY presale price is $0.00519, but this will rise in one day.
Pepe
Pepe is the next meme coin to buy on the crypto market recovery.
Like Shiba Inu, Pepe will likely benefit significantly from the Ethereum ETFs.
Pepe created a new all-time high (ATH) in June when the Ethereum ETFs were approved, suggesting that it could soar again once they go live.
But that’s not the only factor hinting that Pepe could explode.
The project is the third-largest meme coin and has frequently outperformed its peers this cycle.
For instance, Pepe is up 630% this year, while Shiba Inu is up just 80%.
This indicates all eyes are on the frog-themed meme coin and could enable further gains ahead.
Pepe is currently trading at $0.00001193, up 24% today, 27% this week, and 1.91% this month.
It holds a $5 billion market cap and a $1.6 billion 24-hour trading volume, up 112%.
Shiba Shootout
PlayDoge topped our list because of its innovative utility, setting it apart from other meme coins.
But Shiba Shootout is another meme coin with promising utilities.
Its relation to the market’s second-in-command meme coin, Shiba Inu, strengthens its bullish outlook.
Shiba Shootout embraces crypto’s technological frontier position by adopting a Wild West theme, with Shiba Inu mascots galloping around on horseback and facing off in epic showdowns.
But behind its memetics, Shiba Shootout is developing utilities like staking, incentivized community story sessions, token governance, a lottery, and more.
One of the main drivers behind Shiba Inu’s success in 2021 was its plethora of utilities.
But with SHIB’s market cap now sitting at $10 billion, Shiba Shootout offers investors a second chance at huge gains on a low market cap alternative.
The project is in its presale and has raised $670K so far.
Currently, the Shiba Shootout presale price is $0.0196, but this will rise throughout the campaign. The next increase is in eight days.
Floki
Floki is another Shiba Inu-themed meme coin with utility.
Like PlayDoge, Floki has a P2E game at its core.
Floki’s P2E game is a Viking-themed number called Valhalla. It’s already launched and is working on a mobile-based version that will launch in 2024.
Floki also has a vault locker that enables projects to lock their tokens and NFTs in its smart contract.
There are over $97 million worth of assets locked in FlokiFi, reflecting notable legitimacy and trust surrounding the project.
Between its P2E game and vault, Floki has a significant upper hand over the average meme coin that relies purely on memetics.
It is currently trading at $0.0001881, up 17% today, 26% this week, and down 6% this month.
Floki has a $1.7 billion market cap and a $465 million 24-hour trading volume, 162% today.
Base Dawgz
As crypto prices recover, the Base network could see huge liquidity inflows.
That’s good news for Base Dawgz.
Base Dawgz is the latest meme coin to launch on Base, but the project is multichain and available on Ethereum, Solana, BSC, and Avalanche.
Coinbase launched its flagship Smart Wallet in June, granting seamless accessibility to the Base network for its 110 million users.
Base’s leading meme coin Brett exploded as a result, peaking at a near-$2 billion market cap.
But now it could be Base Dawgz’s time to shine.
Alongside its multichain functionality, Base Dawgz has staking and a refer-and-earn mechanism, providing clear-cut benefits over Base’s frontrunner.
Adding to the excitement, Base Dawgz is currently undergoing a presale.
The Base Dawgz presale price is $0.0061, but this will rise later today and then throughout the campaign. As such, prospective investors must act quickly.
