The meme coin market is soaring over the past 24 hours, with tokens like Bonk, Brett, Mog, Cat in a Dog’s World, and Popcat all posting double-digit gains. The bullish day tops off a week of impressive momentum for meme coins, marking a definitive recovery from losses in June and early July.
The resurgence of meme coins bodes especially well for a new Base meme coin, Base Dawgz, which has raised $2.5 million in its ICO and is attracting new investment at a rapid pace. We’ll take a closer look at the meme coin market’s growth and Base Dawgz’s potential.
Meme Coin Market Surges, Delivering 15% Gain for $BONK and 10% Gain for $BRETT
The past 24 hours has seen meme coins across the market move higher—in fact, the only meme coin in the top 20 to post a loss is $DOG. Even Shiba Inu, which was hit hard earlier in the week after a hack on India’s WazirX crypto exchange, is up nearly 3% in the past day of trading.
The biggest gains went to $BONK and $BRETT, which saw pumps of 15% and 10% respectively. Dogwifhat, which is up 7.3% in the past 24 hours, is also worth highlighting because the token has posted a 58% gain over the entire week.
The sum of the move has been to carry the total market cap of meme coins from $41.3 billion a week ago to $49.5 billion today, a nearly 20% gain for the sector. Meme coins still have a way to go to erase their losses in June and the first half of July, but momentum appears to be strong for further gains this month.
One thing to watch is whether $BONK can flip $WIF for dominance on Solana. The two tokens traded places briefly last week, and just $500 million now separates the two meme coins’ market caps. If $BONK can continue to deliver sector-leading gains, it could become the largest meme coin on Solana and serve as a magnet for new traders looking to join the meme coin rush.
Base Dawgz Raises $2.5m for Network-jumping Meme Coin
Within this bullish environment, many traders expect to find the biggest gains not in already established meme coins, but in new entrants to the market.
One of the best new tokens to watch is Base Dawgz, which has raised more than $2.5 million in sales of its $DAWGZ token during its ongoing presale.
We did it $DAWGZ!
— Base Dawgz (@BaseDawgz) July 15, 2024
$2.5 MILLION reached 🪂 we're soaring now and it doesn't look like we're slowing down 🤩 pic.twitter.com/XY0rUztKpV
Base Dawgz is a “base jumping” meme coin that can hop seamlessly between the Base Layer 2, the Ethereum mainnet, Binance Smart Chain, Solana, and Avalanche. This ability is important for two reasons.
First, Base Dawgz could become one of the most important meme coins for blockchain interoperability. As traders need to quickly shift funds from one chain to another to jump on the latest hot meme coin, they can rely on $DAWGZ to do so with low fees.
Second, Base Dawgz has made a bet on multiple chains for its future. It doesn’t matter whether Solana meme coins beat out Ethereum meme coins, or if Avalanche rises and becomes the new hub for meme coin development. In all of those scenarios, $DAWGZ is set to prosper.
Crypto industry experts have been extremely bullish on $DAWGZ, with leading analysts like Jacob ‘Crypto’ Bury predicting that it could be the next meme coin to deliver a massive 100x return.
For a limited time, presale investors can stake their $DAWGZ and fill their bags with 1,336% APY rewards. Plus, investors who connect their X accounts to the presale and share content from the Base Dawgz X account can qualify for a $DAWGZ airdrop before the token launches.
The next $DAWGZ price increase is just 3 days away, so don’t miss this chance to join the Base Dawgz presale at the lowest possible price.
