DOGE, SHIB & PEPE 10% off

Is this the end of the meme crypto hype and can other altcoins take over or will meme coins rise even further after this dip?

Popular Meme Coins DOGE, SHIB in PEPE Dippen 10%

Meme coins are down quite a bit today, even though the crypto market is moving sideways. For example, Dogecoin (DOGE) peaked above $0.20 on Tuesday before crashing to $0.13, recovering to $0.18 on Wednesday and falling -10% to $0.15 over the past 24 hours.

Looking at the chart below, we see how the DOGE price had a huge candle on Tuesday as a result of a volatile day for crypto. After a sharp decline in volume, Dogecoin appears to be sliding further, while the Relative Strength index (RSI) cools below 70.

A similar pattern can be seen with Shiba Inu (SHIB) which is down -15% to $0.000031 and Pepe (PEPE) which is down -14% to $0.0000067 in the last 24 hours. A logical explanation for the meme crypto dip is that investors and traders withdrew their profits when the meme coins were overvalued at that time.

Sooner or later your favorite meme coin stops rising and when that happens, traders often panic, causing a big sell-off, which leads to a big dip in the price.

People are taking loans of magic internet money colleteralizing Ape jpegs to buy memecoins hoping they will 1000x but get liquidated…

Look how far we have come🥳#the dough #finance

— Bored Sad Fez Ape (@boredsadfezape) March 7, 2024

?s=20

It is not yet clear whether this is the end of the hype surrounding meme coins and other altcoins will now take over the market. Major meme coins are expected to fall even further today as investors withdraw their profits or cut losses.

What is interesting is the fact that smaller meme coins are still doing well today, it is the big meme coins such as DOGE, SHIB, PEPE, BONK and WIF that have fallen today. This reinforces the possibility that these specific meme coins are overvalued, while the hype surrounding smaller meme coins suggests that meme coins are still popular.

The meme coins on Solana in particular are very popular thanks to Solana’s impressive growth in recent months and the low transaction costs on the network. Meme coins on Ethereum are doing less well today, with the exception of meme coins with a low market cap.

Which Altcoins Will Explode As Big Meme Cryptos Fall?

Although major meme coins are declining today, small meme coins with a market cap under $1 billion continue to rise in value. This is a sign that these meme coins are not yet overvalued, need less volume to rise and therefore still have a lot of potential to deliver high profits.

Today we look at 3 meme coins that are very popular, but still have a lot of room to rise.

Peen (PEEN)

Peen (PEEN) is a meme coin that launched this week, has a market cap under $1 million and is up +25% today. The new meme coin on Ethereum uses an attractive cartoon style and crude humor with the aim of rocketing to $100 million with a close-knit community.

The meme coin launched on Tuesday and went x3 that day before the first investors withdrew their profits and brought the market cap below $1 million. Today, the meme coin has skyrocketed again, but it still has a lot more room to rise.

Hey Georgie 👀

Want some $PEEN? 🤡🍆#MemeCoin #PEPE #PEEN #Web3 #CryptoCurrency #Dontletmeflop #AltSeason #Crypto #IT #PennyWise pic.twitter.com/20AxOoqXlL

— PEENTOKEN (@PEENTOKEN) March 7, 2024

?s=20

Peen was launched without a presale on the basis of a fair launch, you can buy the meme coin via the official website and Uniswap. Soon, Peen may start drawing big green candles towards $100 million with over x100 upside from this point.

Smog (SMOG)

Smog (SMOG) is a meme coin that launched last month and has built a large community, eagerly awaiting the largest Solana crypto airdrop ever. In addition to this airdrop, major holders of other meme coins will also have SMOG tokens dropped into their wallets.

You can join the upcoming airdrop by purchasing SMOG, completing quests on Zwaly.io, and staking SMOG with a 42% APY. Smog launched on Solana, but also has a wormhole to Ethereum, making it possible to trade and stake the token.

You can buy SMOG through the Jupiter DEX aggregator and the official website. If you choose to stake SMOG, you will not only get a 42% APY and additional airdrop points, but also a 10% discount on the current value of the token. At the time of writing, SMOG is up +33% in the last 24 hours.

Sponge V2 (SPONGE)

Sponge is a meme coin that launched last year in the era of PEPE and gave early investors profits of up to x100. Like Pepe, interest in SPONGE waned, so the team decided to launch the new Sponge V2 (SPONGE) token with more utility and an emerging crypto game.

Since the transition from Sponge to Sponge V2, it is possible to stake the tokens with an APY of 181% and trade via Polygon (MATIC). Soon, the Sponge V2 team will launch its play-to-earn game, which will allow you to earn even more SPONGE based on your performance.

ONLY UP 🚀🧽🧽🧽🧽 $SPONGE

Important claim announcement coming soon! 🌟

Stay tuned 💦#SpongeV2 #MemeCoin #Crypto #AltSeason #Bullish pic.twitter.com/76CnfokjjS

— $SPONGE (@spongeoneth) March 6, 2024

Sponge V2 is available for purchase via the official website and has increased by more than 4x since its launch. But since Sponge V2 is nowhere near $1 billion, the token still has room to climb even further, especially after the launch of its crypto game, which could see the project go viral.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.