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The meme coin market is swiftly regaining momentum today, with Pepe and Shiba Inu heading the pack, up 10.8% and 6.7%, respectively.
Meanwhile, the new multi-chain presale Dogeverse stuns the market, raising $5.8 million in its opening weeks.
PEPE and SHIB jump on broader market recovery
The total crypto market cap is up 2.3% in the past 24 hours, stoking excitement that a broader recovery may be on the horizon.
At the same time, the meme coin market cap is up 6.3%, but Pepe and Shiba Inu have outperformed the average.
This sets a bullish precedent for the projects, illustrating an outsized market interest relative to other cryptocurrencies.
Currently, Pepe is trading at $0.000005397, up 10.8% today, but remains down 22% this week and 28% this month.
The frog-themed meme coin holds a $2.2 billion market cap and a $730 million 24-hour trading volume, down 18% today.
Analyst Mo noted that Pepe “held its structure” better than most other altcoins across the recent pullback. According to the analyst, this indicates Pepe could be primed for a stronger recovery, saying Pepe is “likely to bounce better than most alts if BTC stays steady.”
However, Tyrex warns that Pepe must reclaim the $0.0000065 to continue its bullish trajectory.
“Pepe is currently in a triangle pattern. We need to stabilize and bounce around $0.0000065 for the uptrend to continue and the move to keep going,” he wrote.
Meanwhile, Shiba Inu is trading at $0.00002279, up 6.7% today, down 17% this week, and 10.9% this month.
It holds a $13 billion market cap and a $856 million 24-hour trading volume, down 12% today.
Trader ChartMonkey says Shiba Inu remains bullish but acknowledges it could retrace to lows of $0.00001350 – $0.000015.
“We have reason to believe that the Shiba Inu price has completed its a-b-c correction in wave 4. However, a potential drop to $0.00001350 – $0.000015 could still support our optimistic outlook.”
The lower-time frame sentiment surrounding Pepe and Shiba Inu is neutral, primarily depending on the broader market’s performance. However, their macro outlooks remain bullish.
Still, the new multi-chain meme coin Dogeverse has displayed tremendous resistance amid the recent market turmoil, recently crossing the $5.8 million mark at presale.
Dogeverse presale steams forward as analysts predict 100x growth
Ushering in the next generation of memetic innovation, Dogeverse is a multi-chain meme coin with staking utility.
Hopping between the six hottest smart contract-enabled blockchains, Dogeverse is a pioneer in the meme coin domain.
Its venture will begin on Ethereum, Polygon, and BSC and will soon be followed by Solana, Base, and Avalanche launches.
Launching on the most prominent on-chain meme coin markets, Dogeverse will unite the once-differential communities under the banner of one powerful meme coin.
Adding to the excitement, its multichain approach means the project remains central in the ever-changing meme coin landscape, no matter which chain users migrate to next.
Staking is already live for the Dogeverse presale, with holders’ currency garnering over 150% APY. However, this will decrease as more tokens are staked, so potential investors should hurry.
These factors have caused a ruckus, with traders scooping up $6 million worth of $DOGEVERSE despite the market’s recent difficulty.
Moreover, industry experts have supported Dogeverse, with analysts from 99Bitcoins recently speculating it holds 100x potential.
The current Dogeverse presale price is $0.000296, which will increase in one day or when the total raise hits $6.1 million.
To learn more about this project, visit the Dogeverse presale website.
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This article first appeared at crypto.news
