On Friday evening, the crypto market underwent a massive $1 billion sell-off that hit a number of meme coins very hard. Can meme coins recover for Doge Day?

In last night’s crypto crash, meme coins such as WIF, BONK, PEPE, FLOKI and SHIB fell incredibly hard. The declines seem to have stopped in the meantime, but the damage has already been done and the road up seems very long.

Market cap meme coin market drops 15%

Over the past 24 hours, there has been a sell-off of almost $1 billion. In just a few hours, the prices of major cryptos such as Bitcoin fell enormously. Bitcoin fell from $71,000 to $66,000 in a span of 6 hours. Despite the fact that the major cryptos such as Bitcoin and Ethereum had to accept significant losses of more than 5% (BTC fell 5%, ETH fell 7.6%), it was mainly the meme coins that were hit hard by this massive crypto crash.

WIF, BONK, PEPE, FLOKI and SHIB are some of the meme coins that were hit the hardest. The WIF price fell by more than 22.4% over the last 24 hours and is now valued at $2.66. The BONK price, Pepe Coin price and Foki Inu price performed almost as poorly, all three falling by about 20% over the same period.

One of the largest meme coins on the market, SHIB, also suffered significant losses. The Shiba Inu price fell by more than 12% over the past 24 hours. All these losses caused the entire meme coin industry to also drop by almost 15% over the past 24 hours according to data from CoinMarketCap.

meme coin market cap
Market cap meme coin markt – Bron: CoinMarketCap

Although the sell-off was large and many meme coins fell by 20% in just a few hours, the market now seems to have calmed down. Since the Shiba Inu price reached its low of $0.00002287 yesterday at a quarter to nine in the evening, the price has not fallen anymore. Currently, SHIB is worth $0.00002417.

The question now is when these well-known meme coins can start their upward trajectory again. The declines have ensured that the foundation of a token such as Shiba Inu is no longer very convincing. Its RSI has dropped towards 40 and the token is below all its short and medium term Moving Averages.

It therefore appears that the meme coin market is dependent on external factors to make a significant recovery. The upcoming Bitcoin halving can help with this, but the question is whether this is enough to compensate for the losses incurred.

However, not all meme coins have been hit equally hard by the recent crypto crashes. For example, meme coins that are still in their presale period were virtually immune to price crashes and are therefore good options for investors who want to realize significant profits in the short term. For this reason, we discuss below three presale cryptos that currently have the most potential for significant increases.

Dogeverse – innovative alternative to Dogecoin

Dogeverse is a recently launched alternative to Dogecoin. Because the token is still in its presale phase, it is hardly affected by the current crypto crash. His successful presale, which has already raised more than $3.5 million, confirms this.

Dogeverse is developing a unique alternative to the largest meme coin in the world. Because it develops its native DOGEVERSE token on multiple blockchains, it is a multi-chain alternative to Dogecoin.

The Dogeverse token will be developed on the Ethereum, BNB, Polygon, Solana and Avalanche blockchains, among others. For users, this means they can take advantage of the best benefits and features of all these blockchains. In addition, Dogeverse’s transactions will also be faster and cheaper due to the improved liquidity.

The presale of the project is doing very well and DOGEVERSE tokens currently cost $0.000294 each. However, this price increases at each stage of the presale, making today the best time for investors to take full advantage of the current low prices.

99Bitcoins – Earn by learning about crypto

99Bitcoins is another crypto project that could become worth a lot before Doge Day. This project is already a well-known name among many traders in the crypto market. 99Bitcoins launched a website in 2010 where users could go for all their crypto information.

Now almost 15 years later, the platform already has more than 700,000 users and there are even 2 million users for the platform’s crypto courses. 99Bitcoins is all about teaching people about crypto, and that is exactly what its new crypto token will be used for.

99Bitcoins platform99Bitcoins platform

The 99BTC token plays an important role in the new Learn 2 Earn system from 99Bitcoins. This revolutionary concept allows users to make money while learning about crypto. A total of 79 hours of trading lessons are available.

The 99BTC token is currently still in its presale phase. This means that users are able to purchase tokens for a relatively low price. Tokens currently cost $0.001 during the presale, which has already raised more than $210,000.

Slothana – is this Bonk’s successor?

Slothana is an example of a meme coin project that, like BONK and WIF, can experience an incredible explosion in value the moment its native SLOTH token is listed on exchanges. Just like BONK and WIF, this token was developed on the Solana blockchain and immediately managed to gain a lot of attention among investors.

Instead of using a standard presale, this project used a send-to-wallet airdrop system, something that immediately turned out to be a great success. Through this system, users could easily purchase SLOTH tokens by sending their SOL tokens to Slothana’s wallet address.

In addition, users are also able to connect their wallets to Slothana’s website to purchase SLOTH tokens. Currently the Phantom Wallet, Solflare Wallet, Coinbase Wallet and Trust Wallet are accepted.

slothana solana meme coinslothana solana meme coin

The presale of this project already achieved its goal of $10 million in just a few days. This means that this presale is now in its final phase and users only have a limited time to purchase SLOTH tokens. 1 SOL token gives you 10,000 SLOTH.

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

Source: https://bitcoinmagazine.nl/nieuws/wif-bonk-pepe-floki-shib-cryptos-crashen-na-1-mld-sell-off-kunnen-meme-coins-herstellen-voor-doge-day

Leave a Reply

Your email address will not be published. Required fields are marked *