After shedding more than $20 billion in market cap in the past month, the meme coin market appears to be turning things around. Most of the biggest meme coins are up overnight and seeing a boost in trading volume, kicking off what could be a burst of bullish momentum.
The biggest gains right now are in $BONK, but we’re watching a new meme coin called WienerAI that could end up leading the meme coin race. Let’s take a closer look at what’s happening in the meme coin market.
Bonk Jumps 14% and Pushes Past Dogwifhat for Solana Dominance
Bonk has delivered impressive gains in the last 24 hours, jumping 14% on trading volume of more than $420 million. The pump is especially noteworthy since less than $180 million worth of $BONK was trading daily just last week.
The move has catapulted Bonk past Dogwifhat to claim the title of largest Solana meme coin by market cap. It’s a significant move since $WIF has held the title since early this year. The two tokens are still neck-and-neck, with market caps around $1.68 billion, but this could mark a broader realignment in the size of meme coins on Solana.
$WIF is one of the few meme coins that’s down in the past day, posting a 5% loss. Other Solana meme coins including Book of Meme and Cat in a Dog’s World are up, although they have posted much smaller gains than Bonk.
The question for meme coin traders now is whether the resurgence in Bonk and other meme coins can hold. The crypto market is bearish overall this week due to fears that the collapsed Mt. Gox crypto exchange will start paying out BTC to former customers, flooding the market with crypto.
However, trading volume is up in meme coins and the broad-based rally bodes well for a more sustained move. It seems likely that most of the top 10 meme coins will erase their losses from the past week, which means tokens like $PEPE and $WIF could have gains of 20% or more ahead of them.
Is This the Next Meme Coin to Explode? WienerAI Raises Over $7M Through ICO
A new meme coin, WienerAI, has the potential to beat out Bonk, Dogwifhat, and other top meme coins after it hits exchanges next month. This new meme coin has already raised $7 million in sales of its $WAI token and is on track for one of the biggest token launches of the year.
WienerAI features a sausage-shaped dachshund as its mascot that the project calls “part dog, part sausage, part AI trading bot.” It’s an adorable mascot that lends itself well to jokes. As an example, WienerAI has started referring to its community as the “Sausage Army,” a play on Shiba Inu’s $SHIB Army.
This is more than just a meme coin, too. WienerAI is building an AI-powered crypto trading bot that will help $WAI token holders find opportunities in the market and boost their trading profits. The bot features a ChatGPT-like interface to help users find trading setups and explain the reasoning behind them.
More than just a bot–WienerAI is your ultimate crypto trading companion.
— WienerAI (@WienerDogAI) June 11, 2024
We're delighted to share some sneak peeks with our incredible and supportive community. (1/4) pic.twitter.com/kR8ypeJycj
WienerAI plans to roll out even more features, including a fee-free swap and analysis of decentralized exchanges to help traders find the best prices. All of these tools could make WienerAI the go-to platform for crypto traders searching for an edge.
Traders and investors can buy WienerAI now during the presale at a discounted price of only $0.000726. Plus, for a limited time, $WAI investors can stake their tokens to earn 157% APY rewards.
Don’t miss this chance to buy WienerAI and get in on the explosive turnaround in the meme coin market.
