Meme coin prices are rallying once again, sparked by the Bitcoin price hitting $66,400 today on Friday. The meme coin market capitalization is up by 4% and is hovering above the $54 billion mark.
Meanwhile, market leader Dogecoin is up nearly 5% over the past few hours and is trading at $0.125 at press time.
Unsurprisingly, new meme coins are also in high demand as investors hope to repeat the rags-to-riches returns they saw in this year’s first-quarter bull rally.
For instance, WienerAI has raised over $7 million in early presale investments as smart money traders call it the next 100x meme coin.
Whales Buy DOGE – How High Can The Dogecoin Price Go?
The Dogecoin price is skyrocketing and appears poised for a bullish continuation, considering its $640 million daily trading volume.
More importantly, whales appear to be stacking DOGE in preparation for a bullish breakout. Popular crypto analyst Ali Martinez has revealed that whales have purchased 60 million $DOGE on June 18th.
This doesn’t necessarily mean that the top meme coin is out of the danger area. The bulls would still need to reclaim the 100-day and 200-day Simple Moving Averages, which are currently hovering at $0.142 and $0.128 respectively.
Nevertheless, experts are now decidedly bullish on Dogecoin, especially considering the number of key factors in its favour.
For instance, the Federal Reserve now appears poised to cut its interest rates in September, with the CME FedWatch tool showing a 93% possibility for it.
The bullish impact of quantitative easing on DOGE cannot be overstated, especially considering the historic correlation that exists between the Dogecoin price and the M1 money supply.
Similarly, Elon Musk’s continued support of Dogecoin remains a strong point in its favour, especially now that he has openly backed Donald Trump’s 2024 bid in November.
As the odds of a Trump victory rapidly increase, the Dogecoin price appears to be on the cusp of a major breakout.
Most importantly, experts and whales remain confident that Doge will hit the $1 mark at some point during this bull cycle, This would mean over 9x returns for investors buying the token today.
Smart Money Traders Also Buy WienerAI – Next 100x Meme Coin?
WienerAI (WAI) has quickly become one of the most in-demand new meme coins, raising over $7 million in early presale investments.
Several smart-money traders publicly claimed to have purchased the token, thanks to its innovative combination of memes and cutting-edge AI utility.
Indeed, WienerAI isn’t an ordinary utility-less meme coin. The hilarious portrayal of its mascot – a part doge, part sausage hybrid – is only one of its attractive points.
For instance, the project is launching its own AI-enabled trading bot, drawing comparisons to Floki in this regard. The developer team is portraying this bot as the ChtGPT of crypto, a multi-purpose tool for all token holders.
Indeed, users can take advantage of MEV protection, seamless swaps and any investment-related queries at no additional cost.
Similarly, WienerAI is also launching a staking pool, which is currently offering a reward rate of over 140%.
Thanks to its unique value proposition, crypto influencers and experts are bullish on its price potential, with some even calling it the next 100x meme coin.
