Despite a massively bullish week for crypto, Dogecoin and Shiba Inu have both slipped over over the last day.
Dogecoin is down 2.36%, and Shiba Inu is down 2.77% in the last 24 hours. Meanwhile, the total crypto market cap is down just 0.46% in the same period.
Over the past month, Dogecoin has climbed 11.47%, priced at $0.06959. However, this is minuscule compared to the coin’s losses throughout the wider bear market.
From its May 2021 all-time high of $0.7376, Dogecoin is currently down over 90%. In comparison, market leaders such as Bitcoin and Ethereum are down 56% and 60%, respectively, from their ATHs.
Based on data from LunarCrush, Dogecoin’s social mentions are at their lowest since January 2021. This could indicate that attention is shifting from Dogecoin to other newer and more engaging meme coins.
Dogecoin sits at a $9.6 billion market cap, ranked nine among all cryptocurrencies. In the last 24 hours, trading volume has decreased 13.89% to $459 million.
Alongside Dogecoin, Shiba Inu has also plunged. Currently, SHIB is priced at $0.000007828, down 91% from its October 2021 ATH of $0.00008845.
While holders hoped Shiba Inu’s new layer two scaling solution, Shibarium, would help its price recover, this is not the case. Despite Bitcoin, Ethereum and even Dogecoin up over the past year, Shiba Inu remains down 28%.
This illustrates the lack of interest in large-cap meme coins over the last two years. However, the meme coin market is still alive, and other projects are thriving.
These Meme Coins Have Continued to Pump Despite Other Tokens Dropping
While legacy meme coins have slid, some next-generation meme coins have succeeded tremendously.
Speculators believe it is only a matter of time before one of these newer meme coins could overtake the current market leaders. Therefore, let’s explore two of this week’s best-performing meme coins.
Wall Street Memes Expected to Explode After Raising Over $15m
Wall Street Memes is a presale meme coin project dubbed the next Pepe. The presale has raised a whopping $15 million so far, generating a new wave of excitement surrounding the future of meme coins.
The project was launched by the Wall Street Memes brand, which boasts over one million social media followers, primarily posting crypto and stock memes on Instagram and Twitter. As such, Wall Street Memes has access to an untapped market of stock investors and has successfully converted them into its meme coin community.
Furthermore, Elon Musk has even engaged with the project on Twitter.
Countless prominent analysts and YouTubers have also hyped the project, with many calling for 100x gains following its initial exchange offering (IEO).
In a recent video, prominent crypto influencer Michael Wrubel, who holds over 300K YouTube subs, called the project “the next 100x Shiba Inu”.
According to the Wall Street Memes website, the project aims to help everyday investors get rich off “useless meme coins”. Its ethos challenges traditional financial norms, enabling investors to succeed through humour and community.
Currently, Wall Street Memes is available for $0.0316, but investors must hurry as the price will incrementally increase until the end of the presale.
ChimpZee Also Turning Heads by Fighting Climate Change
ChimpZee is another meme coin which is pumping at the moment. Like Wall Street Memes, it is also in its presale phase and is touted to hold significant potential.
Yet ChimpZee is not your average meme coin. It combines the virality of meme coins with the utility of DeFi – all while fighting climate change and protecting animals.
The ChimpZee ecosystem features a Play-to-Earn game, a Trade-to-Earn NFT marketplace and a Shop-to-Earn merchandise store.
Therefore, by interacting with the ecosystem, users are inadvertently helping to protect the environment.
ChimpZee has partnered with well-known charities like The Giving Block, One Tree Planted and Wild. The project has made significant progress in climate action, planting 20,000 trees in Guatemala, 1,200 trees in Brazil and donating $15,000 to save elephants.
So far, the ChimpZee presale has raised over $800K.
Currently, investors can purchase the $CHMPZ token at the massively discounted price of $0.0007. However, this price will rise throughout its presale until its IEO, which is set at $0.00185. This equates to a 164% increase from today’s price.
Moreover, investors who buy now get a bonus of 125% bonus coins for free.