It’s been a red-hot 24 hours in the meme coin market, with all of the top tokens posting significant gains to end a month-long bear trend. $BRETT is up more than 20% in the past 24 hours, while $FLOKI and $WIF aren’t far behind.
Could this be the breakout that meme coin traders have been waiting for? We’ll take a closer look at the bullish move and highlight a new meme coin that could be poised to see gains next.
Meme Coin Market Surges, Leaves Space for More Gains Ahead
Today’s surge in the meme coin market provides much-needed relief for many top coins, which have been shedding value since late July. In the past 30 days, the market cap of all meme coins fell from $52.8 billion to $37.8 billion and trading volume declined dramatically.
The downturn could now be at an end. All of the top 20 meme coins posted gains in the last 24 hours, and a number of them have clawed back their losses from the past 7 days of trading. The market has added more than $1 billion in value in the last 24 hours alone.
The biggest winner today by far is $BRETT, the popular Base meme coin. It jumped 21%, challenging a resistance band around the $0.10 price level. $BRETT is still down 40% from its price in late July, indicating the token has a lot more room for gains.
$FLOKI and $WIF also posted gains of more than 10% each. $FLOKI remains 38% below its July price and $WIF remains down 42%, so traders could find opportunities for growth in both coins if the bull trend continues. Several trading groups have issued signals on $WIF in particular in the past several days.
Whether the surge is a short-lived jump or a more sustained upward push remains to be seen. Analysts are bullish, and technical analysis indicates that some of the biggest meme tokens were oversold prior to today’s price gains.
Trading volume has also soared—it’s up more than 300% in $BRETT in the past 24 hours. That indicates traders are diving into the market rather than running away.
PlayDoge Raises $6M for Play-to-Earn Game as Analysts Predict Explosive Returns
With a bull market on the horizon, traders and analysts are turning their attention to new meme coins that have the potential to deliver truly explosive gains. One coin in particular stands out: PlayDoge.
PlayDoge is a play-to-earn crypto game and meme coin that takes the ultra-popular doge meme to the next level. It gives players their own virtual doge companion and rewards them with $PLAY tokens as they care for their pet and explore 20 video game-like side adventures with it.
PlayDoge is inspired by Tamagotchi, the 1990s-era game that sold more than 82 million units and set off a worldwide craze. PlayDoge has the potential to replicate Tamagotchi’s success and could reach hundreds of millions of players thanks to its iOS and Android mobile apps.
The project has gotten rave reviews from crypto analysts, including several who have called it the best meme coin of the year. Jacob Bury, a respected meme coin analyst who predicted past winners like Tamadoge and Wall Street Memes, called $PLAY the next meme coin to 10x.
PlayDoge has already raised more than $6.1 million during a presale of its $PLAY token, which is required to earn rewards while playing the game. For a limited time, early investors can buy $PLAY at a fixed price of $0.00531 and earn staking rewards of 75% APY.
The PlayDoge presale ends on August 26, so there’s not much time left to buy $PLAY before it hits exchanges. This could be one of the biggest winners of the coming meme coin cycle, so traders won’t want to miss out on this opportunity to join PlayDoge early.
