The meme coin mania appears to have started once again, sparked by Fed Chair Jerome Powell’s dovish Jackson Hole address.
The usual suspects – Pepe and Dogwifhat – are leading the meme coin rally, both up by double digits over the past day. Smart money traders continue to view them as beta bets on Ethereum and Solana, respectively.
Bonk, Floki and Popcat are also among the top-performing crypto assets over the past day. Experts believe that meme coins will continue to outperform every other asset class for the rest of this bull cycle.
Smart money investors are also stacking low-cap and new meme coins, owing to their high upside potential. For instance, Pepe Unchained has raised over $10 million in its presale, with some analysts calling it the next 100x meme coin.
Is It Too Late To Buy Pepe, Dogwifhat and Bonk?
Experts are extremely bullish on meme coins such as Pepe and WIF, so much so that they believe sidelined investors are still early.
For instance, the Pepe coin is currently trading at $0.0000082 with a market capitalization of just under $4 billion. The meme token is up by over 13% in the past day and 25% over the past week.
And yet, it is trading nearly 46% below its all-time high. New buyers can still double their investments if the PEPE price only hits its peak again. However, analysts are confident that it has much higher upside potential.
For instance, one of the top Bybit traders Bluntz (@Bluntz_Capital) sees a close resemblance between the Pepe price chart and BTC’s when it was its cycle low of $16k. The Bitcoin price also broke out of an ascending parallel channel, which indicates that the PEPE price could be going parabolic in the coming days.
Similarly, Bluntz believes that the Dogwifhat price could be heading to $10 in the coming months, using the Elliot Wave Theory for his projection.
After all, WIF has been trading as leveraged Solana. Considering that the odds of a Trump victory have surged over the past week, it appears that the spot Solana ETF will be approved in early 2025. This is extremely bullish for SOL and consequently, WIF.
The Dogwifhat price is already up by nearly 20% today and 35% over the past week.
Analysts are also bullish on Bonk’s long-term prospects, with many expecting it to peak at over $10 billion valuation in this cycle. This means that new buyers could still net 6x to 7x returns.
However, investors hunting for 50x to 100x returns will have to look towards low-cap meme coins such as Pepe Unchained.
Is Pepe Unchained The Next 100x Meme Coin?
During this year’s first-quarter bull run, several small-scale investors netted millions in profits with their low-cap meme coin investments. Smart money investors are betting that this phenomenon will repeat in the coming months.
There is a reason why a new meme coin – Pepe Unchained (PEPU) – has raised over $10.3 million in a few short weeks, despite the broader market uncertainty.
However, the strong demand for PEPU isn’t surprising. As such, frog-themed meme coins tend to catch the attention of meme coin enthusiasts who are looking for the next Pepe. Tokens such as PeiPei, PepeFork and PONKE have exceeded expectations with their meteoric ascent.
Additionally, Pepe Unchained isn’t an ordinary copycat token. Owing to its native Layer-2 chain, PEPU is expected to see substantial retail investment, an area where most new Ethereum meme coins struggle. Indeed, it is expected to offer significantly low trading costs and high staking rewards.
For instance, presale PEPU buyers are already earning staking rewards at a reward rate of nearly 200%.
With its strong early demand, native Layer-2 chain and lucrative staking rewards, it is no surprise that experts are bullish on PEPU’s upside potential. Some believe that early presale buyers could net as much as 100x returns after its launch.
