Meme coin prices are skyrocketing on Saturday as the second crypto bull run appears to have started.
Indeed, with the macroeconomic concerns put to bed after a dovish FOMC earlier this week, the global crypto market cap has surged by 4% today, data from CoinGecko reveals.
The Bitcoin price is up 9% today, which has led to a sharp bounce amongst meme coins as well.
Market leader Dogecoin is leading the rally, while other top meme coins such as Pepe, and Shiba Inu are all up double digits. Solana meme coins Dogwifhat and Bonk are also surging, thanks to a sharp 9% increase in the SOL price.
Dogecoin Price Up 21%, Leads Today’s Top Meme Coin Gainers
The Dogecoin price is up 21% on Sunday, currently exchanging hands at $0.16 at press time.
The token’s performance becomes even more impressive after zooming out on the Dogecoin price chart. After hitting a local bottom of $0.12 on May 1st, Doge has skyrocketed by over 33%.
According to CoinGecko, the Dogecoin market capitalization is now above $23 billion and the meme coin boasts a daily trading volume of $1.9 billion.
A few experts are massively bullish on Doge, with Ali Martinez projecting the start of a major Dogecoin rally. He highlights that the meme coin is mirroring its behaviour from previous bull cycles, something that it has exhibited before reaching new all-time highs.
Over the years, #Dogecoin appears to mirror its previous bull cycles! All you need is a little bit of patience. ⌚️ pic.twitter.com/QMqvmJaLkl
— Ali (@ali_charts) May 1, 2024
However, the key level for Dogecoin remains the $0.19 price point. A weekly close above it will invalidate all potential bearish scenarios.
New All-Time High Imminent For Pepe Meme Coin
Pepe is another top meme coin gainer today, with the meme coin rallying over 10% on Saturday.
The Pepe price currently stands at $0.0000087, with a market capitalization of $3.7 billion.
Impressively, this frog-themed token is one of the few cryptocurrencies to still be in the green on the monthly time frame, up 24% in the past 30 days.
However, analysts believe that Pepe could be trading much higher in the coming days. Trader Crypto Tony reveals that the meme coin displayed a bullish reaction upon retesting crucial support during last month’s crypto market crash.
$PEPE / $USD – Update
— Crypto Tony (@CryptoTony__) May 4, 2024
New highs incoming off PEPE following the reaction off support. I remain long pic.twitter.com/2Hus5bHWNH
As a result, a new all-time high appears imminent for the Pepe meme coin.
WienerAI Sees Impressive Gains In Presale – Best New Meme Coin To Buy?
The display of bullish strength from top meme coins has not dissuaded smart-money traders from going after new low-cap tokens. While these may carry more risk, they have the potential to deliver 100x to 1000x gains.
A new meme coin WienerAI is in high demand during its presale phase, having already raised close to $1 million.
Its mascot – a part dog and part sausage – has caught the eye of investors through its hilarious portrayal. And yet, WienerAI is not a utility-less meme token.
As the name suggests, the token offers several cutting-edge AI technologies. For instance, it is set to launch a beginner-friendly AI bot that will answer all crypto market-related queries.
Similarly, it will help investors find the best crypto prices for their trade by scouring several decentralized exchanges, on top of providing MEV protection.
This combination of AI and memes – two of the most in-demand niches of the crypto market – has made WienerAI one of the favourite meme coins of smart money investors.
Popular traders such as Jacob Bury believe that the WienerAI presale could potentially deliver over 100x returns after its launch.
Solana Meme Coins Dogwifhat And Bonk Also Explode
It’s nearly impossible for the meme coin market to bounce and for Solana meme coins to remain behind. It is not without reason that they have been one of the bullish asset classes in this bull market.
Dogwifhat remains the top Solana meme token, rallying by 31% from its local bottom of $2.30. The meme coin is currently trading at $3.36, with a market capitalization of $3.3 billion.
Analysts remain convinced that Wif is a leveraged bet on Solana and has offered 4x more returns compared to SOL. Considering that the Solana meme coin is expected to peak at $600 to $1000 in this bull run, experts believe that Wif could also reach a market capitalization of over $15 billion.
Bonk is also witnessing significant gains, up 4% today and 15% in the past week. It is currently trading at $0.000028 with a market capitalization of $1.8 billion.
