Over the past few days, the crypto market has seen a surge in the price of meme coins, with Pepe Coin being one of the biggest winners.
The coin has jumped 33% to $0.000001644, while other meme coins like $SPONGE and AiDoge.com have also seen price surges.
Despite the impact of a swooning Bitcoin price on sentiment and prices in the market, the leading crypto is still up 61%, which is above its all-important 200-day moving average.
However, meme coins are much more erratic than Bitcoin due to their speculative price action. Therefore, momentum and sentiment, rather than technical analysis, are important factors to consider when investing in meme coins.
Pepe has managed to achieve a remarkable feat for a young coin, reaching a market cap briefly above $1 billion. It has delivered a 2,777% return for its early investors and has sparked interest in other meme coins like $SPONGE, Wojak, and Milady Coin, which also appear promising.
Pepe coin price predictions suggest that the coin could rise as high as $1, which would represent a 60,827,150% increase from the current price.
While this might be outlandish, even a fraction of that return could deliver life-changing gains. However, before investing, investors need to take note that Pepe, like most meme coins, is highly volatile, and its price could drop as quickly as it surges.
Despite Pepe’s impressive performance, its price is down 37% on a 7-day view, making $SPONGE a more attractive option for investors.
$SPONGE is barely a week old, but it has already almost reached a market cap of $100 million, skyrocketing 7x higher in just five days. The coin is up 41% in 12 hours, making it one of the best-performing meme coins in the market.
$SPONGE has its roots in Web2, giving it much greater brand recognition than its competitors like Pepe. It has bagged eight exchange listings and is rumored to have the backing of some old hands in the crypto industry and VC involvement, making it a serious project.
Investors looking to buy into the meme coin market can also consider AiDoge.com ($AI), which is raising money at a phenomenal rate of about $1 million every 24 hours in its presale.
The innovative AI crypto coin is building a meme generator using generative image AI, and there is nothing else on the market that comes close to what it is doing.