After a few weeks of hot trading when it looked like meme coins were unstoppable, some of the leading tokens in the space have suffered a downturn in recent days. Base meme coin $BRETT is down 22% in the past week, while leading Solana meme coin $BONK has dropped 16%.
The good news for traders is that there are still plenty of opportunities in the crypto market, especially around new ICO tokens. We’ll take a closer look at the root cause of the meme coin downturn and highlight 4 new ICOs with the potential to deliver more gains for traders.
Meme Coins Cool as Bitcoin Stalls, Interest Rates Remain High
The explosive momentum behind meme coins shifted suddenly in the past week in response to a broader change in the mood around crypto.
Bitcoin approached the key $70,000 price level last week, but failed to break through resistance and now sits at $65,000. That has many traders worried, since a surging Bitcoin price is crucial to sustaining momentum in the altcoin market.
On top of that, the US Federal Reserve indicated last week that there would be only 1 interest rate cut in 2024—as opposed to the 4 cuts that the Fed originally planned. That’s a very bearish signal indicating that inflation is likely to remain high, and higher rates will keep new money from flowing into the crypto market to push up prices.
This one-two punch has meme coin traders nervous, and many responded by selling off token stashes and pocketing gains. The result has been a broad drop in meme token prices—major meme coins like $DOGE, $SHIB, and $FLOKI are all down this week as well.
For the foreseeable future, it looks likely that prices will continue to stagnate. $BRETT and $BONK haven’t yet hit support levels. For $BRETT, support can be found around $0.12, a further 15% drop from today’s price. For $BONK, the next support is at 0.000021, a further 9% decline.
Consolidation could ultimately strengthen these tokens, especially considering how quickly they rocketed upwards in the past few months. However, the current price action has left traders searching for other opportunities—and many are finding it in the ICO market.
Let’s take a closer look at 4 hot ICO tokens that traders are piling into this week.
PlayDoge
PlayDoge is one of the most exciting new meme coin ICOs on traders’ radars. The PlayDoge presale has raised more than $4.6 million in just a few weeks, indicating that the $PLAY token has the potential to explode 10x or more after launch.
PlayDoge is building a play-to-earn crypto game in which players can earn $PLAY tokens as a reward for taking care of a virtual doge pet. They can also earn $PLAY for taking their doge on adventures, then spend their $PLAY on in-game upgrades to earn even more.
The game builds on the popularity of the 1990s hit Tamagotchi, which sold more than 82 million devices. PlayDoge will be available on iOS and Android devices, so it could reach hundreds of millions of players.
During the PlayDoge presale, traders can buy $PLAY at a 4% discount to the expected list price and stake tokens for 162% APY.
WienerAI
WienerAI is another hot ICO attracting a lot of investment from meme coin traders. This project has raised nearly $6 million in sales of its $WAI token, and it’s on track to sell out ahead of schedule.
WienerAI features a sausage-shaped dachshund as its mascot, but there’s much more to this project than just a cute dog. The WienerAI team is building an AI-powered crypto trading bot designed to help traders take advantage of the most profitable setups in the market.
The WienerAI bot will be beginner-friendly and includes its own fee-free token swap, making it easy for traders to use it. The bot is expected to be free to use for $WAI holders, creating a lot of demand for the token during the presale.
During the WienerAI presale, traders can buy $WAI with $ETH, $USDT, or $BNB. Staked $WAI earns up to 193% APY.
Sealana
Sealana is the next explosive Solana meme coin according to many traders and crypto analysts. The project is wrapping up a massively successful presale that raised more than $4 million, and its $SEAL token is set to hit exchanges in just 8 days. There’s not much time remaining for traders who want to buy $SEAL before it skyrockets.
This token builds on the hype around Solana meme coin trading and pokes fun at meme coin traders with its mascot—an overweight seal who’s too busy fishing for meme coins in the ‘Solana Sea’ to clean himself up.
The Sealana team has done an outstanding job of building a community around $SEAL with South Park-inspired memes on X. The token was created to build hype and deliver a big pump, and it looks ready to deliver on that promise.
There’s still a little bit of time remaining before the Sealana presale closes. Traders can buy $SEAL at a fixed price of $0.022 using $SOL, $ETH, $USDT, or $BNB.
Base Dawgz
Base Dawgz is an exciting new meme and utility coin built on Coinbase’s Ethereum Layer-2, Base. Base has been one of the fastest-growing blockchains, especially for meme coin trading, so the $DAWGZ token could see a surge of trading activity after it launches.
What’s even more exciting is that Base Dawgz hasn’t staked its future entirely on Base. The token is simultaneously launching on Solana, Ethereum, Binance Smart Chain, and Avalanche, so it can benefit from growth in any of these networks.
In addition, Base Dawgz is building hype around its presale by turning traders into brand ambassadors. Traders who reshare content from the Base Dawgz X group can earn points that they can convert into $DAWGZ at the end of the presale.
That’s helped Base Dawgz become one of the most explosive ICOs of the year. The $DAWGZ presale has raised more than $1.6 million in just over 2 weeks. The next price increase is less than a day away, so traders need to hurry to lock in the best price.
