Yesterday, prices of well-known crypto meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), fell drastically. In addition, we saw the value of Bitcoin plummet by four thousand dollars within hours to a 9-day low of $66,000. Despite a slight recovery, Bitcoin remains stuck at more than 5% loss on a daily basis, currently around $66,200.
The situation for altcoins, including several popular meme and gaming coins, is challenging right now. Cryptocurrencies such as Dogecoin, Avalanche, Shiba Inu and Bitcoin Cash have all seen declines of more than 10% in the past day.
Analysts expect the price of popular meme coins to rise
Despite these declines, anonymous crypto analyst Altcoin Sherpa, with over 213,200 followers on social media platform X, has shared his views on Dogecoin’s future price.
He predicts an impressive rally of over 50% from current levels after breaking the resistance at $0.195. According to Altcoin Sherpa, Dogecoin could soon reach a price of $0.33.
$DOGE: On its road to $.33
other memes still doing great
DOGE isnt going to give you the returns of the others but you can size up on it which is nice pic.twitter.com/xB3qaZcM3O
— Altcoin Sherpa (@AltcoinSherpa) March 30, 2024
While Dogecoin may not promise the spectacular returns that some other new crypto projects can offer, it is considered a reliable investment option by Altcoin Sherpa, especially for those looking for more stability and larger investments.
The recent downturn in meme coin prices brings up an important question: is this the right time for investors to enter? In times of market volatility, reduced prices can be an attractive opportunity for investors to get in on popular new crypto meme coins. However, it is crucial to consider and analyze carefully before committing given the volatility and risks inherent in this market.
Experts bet on airdrop of crypto meme Smog
During this market downturn, many investors are looking at other meme coins to invest in. One of the projects that attracts a lot of attention is Smog. Smog is poised to become the latest hit in Solana meme coins, building on the success of previous bangers like Bonk, Myro and Dogwifhat, which have recently experienced bizarre price increases.
With the largest SOL airdrop ever on the horizon, Smog stands out from all other crypto memes. Many analysts find Smog particularly interesting because of its tokenomics, where 50% of the tokens are reserved for marketing and 35% for airdrop rewards. The analysts see this as a good distribution to gain a lot of reach within crypto.
By participating in the quests offered daily, weekly and monthly on Zealy.io, users can collect points, which increases involvement in the project.
By actively participating in the community and completing various tasks, members have the opportunity to earn additional airdrop points, which makes the token even more attractive.
With the presumably anonymous team behind previous successful projects such as Pepe, Bonk, Dogwifhat and Sponge, Smog is considered a potential meme coin investment with significant growth potential. The track record of this team builds confidence among investors and contributes to the credibility of the project.
New crypto meme Slothana rises due to connection with Smog
But due to the rising popularity of Smog, there are also other crypto memes that are benefiting. Speculation is growing in certain communities as experts discuss the possible connection between Slothana, the latest Solana meme coin, and the team behind Smog.
This speculation gained wings after comments from the Smog account on Slothana’s X page. Smog posted a cryptic “to the moon” message, surprising many. Additionally, Smog was one of the first accounts to respond to Slothana’s inaugural post on March 25, 2024, when Slothana had less than 50 followers. Since then, Slothana’s number of followers has grown exponentially to over 8,000.
To the moon 🔥
— SMOG (@SMOGToken) March 26, 2024
With Smog’s success story still fresh in investors’ minds, any connection to the famed project could mean big profits for investors in Slothana. Just weeks after its launch in February, Smog’s value increased by as much as 100x, reaching a market cap of $200 million.
Slothana appears to be on a similar trajectory, with a private sale raising over $2 million in just three days of launch and currently totaling around $5.7 million. Analysts believe that upcoming events, such as Doge Day and the Bitcoin halving this month, could contribute to a rise in the Slothana price.
Interested investors should act quickly, however, as Slothana’s private sale has no predetermined cap, meaning the opportunity could disappear at any time.
Buying this crypto meme coin, however, is easy. Users can exchange SOL for $Sloth tokens directly via the Slothana website or by sending SOL to a designated wallet address for an airdrop.
Source: https://bitcoinmagazine.nl/nieuws/doge-shib-koersen-onderuit-investeren-crypto-memes
