The meme coin market is starting the week off with a bang. The sector has added more than $1.35 billion in value over the past 24 hours, with gains led by major meme tokens like $POPCAT, $DOGS, and $DOGE.
Let’s take a closer look at what’s happening in the meme coin market and what it means for investors.
Meme Coins Rally, Reversing Last Week’s Losses
Today’s gains have been significant enough to erase losses from a lackluster past week in the meme coin market.
Dogecoin has jumped 8.4% today, turning a 7-day loss of nearly 3% into a gain of 5.75%. Popcat exploded more than 20% in the past 24 hours, while new TON-based meme coin Dogs is up 16.5% and Brett is up 11.4%.
Trading volume has increased dramatically as well. Popcat saw its 24-hour volume more than double, to $101.5 million. Volume in Dogecoin is up 86% to $668 million today.
The sector-wide surge looks like more than just a bounce. Some analysts think it could be a significant reversal, and possibly even the beginning of a renewed bullish mega-cycle.
That tracks with seasonal trends. Historically, the crypto market has experienced significant gains in the fourth quarter of the year. While September is normally bearish, the market could be setting up for gains a bit early this year ahead of what’s expected to be a historically bullish market in 2025.
It’s also noteworthy that gains in the crypto market aren’t limited to meme coins. Bitcoin is up 4.6% in the past 24 hours, while Ethereum is up 3.2%.
This increases the likelihood that more traders will pile into the surge, helping the market continue its momentum through the rest of the week and possibly beyond.
While established meme coins are on the rise today, a new presale token by the name of Shiba Shootout has also been making waves.
Is This the Next Meme Coin to Explode? Shiba Shootout Raises $1.1M as Analysts Predict Big Returns
Shiba Shootout, a new meme coin and play-to-earn game that analysts are calling the ‘next Shiba Inu,’ has been taking advantage of the hot meme coin market.
The project has raised nearly $1.1 million from hundreds of early investors and is gearing up for what could be one of the biggest token launches of the year. Right now, its $SHIBASHOOT token is available at a discounted price of only $0.0202.
Shiba Shootout puts players in the heart of the Wild West, in the virtual town of Shiba Gulch. The project offers many different ways for $SHIBASHOOT token holders to engage, from participating in six-shooter duels to sharing stories around the campfire to voting on the future of the Shiba Gulch community.
What’s especially impressive about Shiba Shootout is that the project has already released its play-to-earn game, giving players a chance to earn $SHIBASHOOT tokens even before the coin hits exchanges. The Shiba Sharpshooter mobile game is available now in the Apple App Store and Google Play.
Plus, during the presale, early investors in $SHIBASHOOT have an opportunity to stake their coins and earn 858% APY rewards.
Analysts like Crypto Nautic have called Shiba Shootout a ‘can’t miss’ token with the potential to deliver 10x gains or more after launch.
This could be one of the biggest tokens during this fall’s meme coin bull market. The next price increase in the Shiba Shootout presale is just a few days away, so don’t miss your chance to lock in tokens today.
