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Memecoin adoption skyrockets, market cap hits $64B. Pepe surges 900%, eyes on Floki and KangaMoon for potential rallies.
In the past few months, the adoption of memecoins has skyrocketed, pushing the memecoin market cap to a record $64 billion in the past few days. Among the memecoins that have witnessed massive rallies is Pepe, which has grown by over 900% in the past 12 months. While Pepe is surging, analysts look into other top memecoins that could trigger massive rallies like Pepe. After the latest token burn, Floki (FLOKI) is one of the tokens tipped to replicate the rally. Also, the KangaMoon (KANG) listing is coming up soon, which is expected to trigger massive rallies.
KangaMoon price set to boom after Bitmart announcement
With the KANG presale now in the bonus stage, the BitMart CEX exchange has made a big announcement. The popular CEX has announced the upcoming KANG listing. This has led to a massive rush to accumulate the token. So far, over 10,000 people have bought the presale with over 32,000 community members. The team has raised $7,443,834.229 in presale, which will likely hit $8M this week.
The KangaMoon native token, KANG price, has shot up in the past few weeks, moving from $0.0050 to $0.025. In essence, early buyers have gotten 400% returns. As one of the leading memecoins in the market, analysts tip the price to hit $0.5 in Q3 and $1 before the end of 2024. As such, KANG is on the path to becoming a future blue-chip crypto.
For context, the KangaMoon ecosystem is a blend of the GameFi and SocialFi models. With the play-to-earn feature, users will connect with players globally and engage them in fights to test their skills. Also, the socialFi model enables users to engage in weekly, monthly, and quarterly challenges and win prizes. Users who win matches are rewarded with virtual currency and rare in-game items.
As a community for meme enthusiasts, the KangaMoon team mapped out 25% of the total token supply, representing 250M tokens for in-game rewards. As such, users are rewarded with KANG tokens when they engage in KangaMoon social media activities such as the ongoing Kangameme contest. Overall, with its goal of opening the billion-dollar NFT market, KANG will likely dominate the memecoin market soon.
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Pepe price sets new record as bear market returns
The Pepe price has set a new price record in the past few days as the memecoin market is witnessing a massive rally. According to the market data from CoinMarketCap, Pepe’s price broke through the $0.000050 resistance zone in the past few days, setting a new ATH of $0.000017 in the process.
However, the return of bears has pushed the Pepe price down. Meanwhile, key market indicators such as the Pepe trading volume are bullish. As such, a rebound and possibly a rally could be on the horizon. While some analysts anticipate a price correction, the Pepe Fear and Greed index stands at Greed (74), signaling that Pepep is in the buy zone.
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Can the recent Floki token burn trigger a rally?
After the decisive vote, which saw the Floki DAO burn over 15B tokens, analysts believe that a rally is imminent for the token. Market data shows that Floki’s price has increased by 64% in the past month. However, the ongoing market retracement has pushed the price down, with slight 14% gains in the past week.
Meanwhile, the Floki trading volume and market cap are bearish with most of the key market indicators not showing positive signs. Even at that, some analysts believe that Floki is one of the memecoins to watch out for in the coming weeks. With the recent launch of the Floki trading bot and the launch of the Floki perpetual features trading in Coinbase, Floki is poised for increased adoption, positioning it as a prime memecoin investment.
To learn more, visit the official Kangamoon website or follow the project via Telegram.
Read more: Bonk, Pepe, and KangaMoon Outshining Ethereum on ETF Approval Day
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