Meme coins have rebounded emerged as top performers following the recent market mayhem that provoked double-digit losses on 5 August.
While blue-chip cryptos like Bitcoin and Ethereum have gone up by about 8% in the last day, some meme coins are doing even better.
Brett has gone up by 40%, Pepe by 24%, and Dogwifhat by about 22%. This puts them at the top of CoinMarketCap’s list of top crypto gainers over the past day.
Brett, Pepe, Dogwifhat Lead Meme Coin Gains
Over the past day, Brett has led the meme coin pack by surging by a whopping 41%. BRETT traded at around $0.09 at press time, with over $127 million in trading volume in the last 24 hours.
Brett is based on Matt Furie’s comic series “Boy’s Club,” which is where Pepe the Frog first appeared. It is often marketed as Pepe’s “best friend.” It says on the official website that Brett “dances and loves video games.
It’s worth noting that Brett’s market value went over $1 billion last week after an over 20% gain in one day.
While the token has a market cap of over $906 million right now, it still ranks as the 73rd biggest crypto on CoinGecko. BONK is currently just over $500 million ahead of Brett in terms of market cap.
TradingView data shows that the Brett price has not been able to go above the previous resistance zone at $0.17 since June this year.
Alongside the broader market crash, Brett’s value dropped to as low as $0.06, a level not seen since May. However, the recent gains have set the stage for Brett bulls to provoke a streak of green candles on the charts.
On the other hand, PEPE, a meme coin named after Brett’s more famous friend, had a market cap of $5.6 billion at the time of writing. This makes it the 23rd biggest crypto and the third biggest meme coin.
PEPE has become a major player in the meme crypto market by capitalizing on its well-known status as an important part of internet culture.
At press time, the meme coin had a market cap of $3.2 billion— which makes it the third-largest meme coin and the 28th-largest crypto. Its market success and popularity, even during a bear market, show that investors and the wider crypto community are still interested in meme cryptos.
PEPE’s price has been going down sharply lately, falling below important support levels amid the market mayhem.
But on August 6, PEPE saw a strong recovery as the bulls re-entered the market. The PEPE/USD pair went up by nearly 30% to hit a daily high near $0.00000819 at press time.
The bulls didn’t want to give up the support level near $0.000007. This is where PEPE prices rebounded on August 5.
Dogwifhat is another dog-themed meme coin that’s caught investor attention. Even though WIF isn’t as well known as Shiba Inu or Dogecoin, it does have a small but loyal following among meme coin enthusiasts.
WIF recently fell to near the $1.07 mark. That is the lowest it has been since March 5th. However, it has gained more than 22% of its value in just 24 hours.
But if you look at the last week, with a 41% drop, the picture still looks bad. WIF’s market cap stood at around $1.3 billion at press time.
Even though it hasn’t been performing well lately, WIF has managed to stay in the market and appeal to investors who like the high-risk, high-reward possibilities of meme coins.
In the meantime, a new Olympics-themed token called The Meme Games is making headlines with its hot new gamified presale.
Is This the Next Meme Coin to Explode? The Meme Games Offers a Gamified Presale with a 25% Bonus
One of the hottest new coins that’s making huge waves in the meme coin space currently is The Meme Games ($MGMES). It combines the excitement surrounding the 2024 Olympics with popular meme characters.
It offers a unique gamified presale. Indeed, you can choose from among the most well-known meme characters (like Doge or Pepe) to compete in races.
When you buy $MGMES tokens, you can choose any one of these characters to race in a 169-m dash.
As of August 6, the price of each $MGMES token is only $0.00915. They’ve raised over $340,000 in just a few weeks of launch, showing high investor traction and support.
You can also earn more tokens by staking your $MGMES. At the time of writing, buyers can earn over 630% APY.
Early buyers have a chance to grab 38% of the total token supply of 2.024 billion during the ongoing ICO. To learn more about tokenomics, read The Meme Games whitepaper.’
Interested buyers can enter The Meme Games Telegram channel and follow its X account to get the latest updates.
Visit The Meme Games Presale
