The meme coin space is heating up again as Dogecoin (DOGE) and Shiba Inu (SHIB) see their prices pump amid a broader crypto market recovery.
This recovery comes after some dovish comments from Fed Chair Jerome Powell, combined with the growing buzz regarding a potential spot BTC ETF approval in the coming weeks.
Meanwhile, Meme Kombat (MK) is another meme coin that appears poised for a price surge, having reached a significant funding milestone during its presale.
Dogecoin Back on the Rise as Meme Coin Mania Returns
Dogecoin, the world’s largest meme coin, has seen a significant price increase over the past day, in line with a broader crypto market recovery.
After hitting a local low of $0.053 on October 12, DOGE has climbed back to $0.059, representing a gain of just over 4%.
The meme coin has benefited from renewed hype and speculation as traders pile back into risk-on assets.
DOGE’s rally brings the coin’s market cap back above $8.4 billion, putting it into the top ten largest cryptocurrencies in the world.
With momentum swinging back in its favor, DOGE looks poised to continue climbing, especially since the price has breached the 50-day Exponential Moving Average (EMA) on the 4-hour chart.
Looking ahead, resistance lies around the $0.060 level, which proved to be a challenging obstacle for DOGE in the first week of October.
If DOGE can continue its rise and breach this level, a move back to September’s high of $0.0646 could be in play.
Shiba Inu Stages Comeback as Whales Hint at Accumulation
The self-described “Dogecoin killer” Shiba Inu has also seen its price perk up over the past 24 hours.
After hitting a low of $0.00000662 yesterday, SHIB has climbed back to $0.00000695, a gain of almost 5%.
SHIB has followed a similar trajectory to DOGE, falling out of favor in recent weeks but now staging a comeback as investor sentiment improves.
Speculation has also emerged that a large SHIB whale may be accumulating the token based on an anonymous wallet transfer worth around $31 million.
This suggests that major holders still see upside potential in SHIB.
While SHIB remains 92% below its all-time high from 2021, its recovery suggests there could still be interest in meme coins.
Which Other Meme Coins Look Poised to Surge?
With Dogecoin and Shiba Inu pumping, attention is turning to which other meme coins could be next to ride the hype wave.
One such coin that looks primed for growth is the newly launched Meme Kombat project, which has now raised over $600,000 in its presale event.
Is Meme Kombat the Next Big Meme Coin to Explode?
Meme Kombat (MK) is an innovative cryptocurrency that combines memes, gaming, and staking rewards into one immersive ecosystem.
The project features an Ethereum-based platform where users can bet on fights between popular internet memes, with the native MK token used for reward distribution.
In the current Season 1 of Meme Kombat, there are 11 different meme characters duking it out Mortal Kombat-style, with match outcomes determined on-chain.
A lucrative 112% APY staking system also allows token holders to earn passive income on their investments.
Meme Kombat has already raised over $600,000 in its limited-time presale event, showing strong enthusiasm from the crypto community.
As outlined in Meme Kombat’s whitepaper, the developers plan to list MK on major DEXs like Uniswap soon, which could significantly boost accessibility and liquidity.
Moreover, with the platform having been thoroughly audited by Coinsult, a world-leading blockchain security firm, investors have peace of mind knowing that Meme Kombat has undergone rigorous testing for vulnerabilities.
Combine this with the fact that famous YouTubers like Crypto Gains have even endorsed MK, and it’s clear there’s growing belief in the project’s potential.
With meme coin mania hitting the market again, Meme Kombat’s fresh take combining hilarious memes and decentralized finance (DeFi) concepts could make it a breakout success, following in the footsteps of DOGE and SHIB.