Pepe Price Bullish as New Meme Coin Dogeverse Raises $12 Million

Pepe Price Bullish as New Meme Coin Dogeverse Raises $12 Million

Meme coin season is resurfacing as Pepe shows immense strength, pumping over 6% today. Meanwhile, the newly launched Dogeverse is also gaining pace as its presale surges past $12 million.

Pepe Leads Meme Coin Recovery

Pepe is leading the way among meme coins as the broader market looks to recover this week. The frog-themed meme coin currently takes the top spot on CoinMarketCap's trending list, followed by Bitcoin. This is almost always a bullish signal, but especially today, considering the widely anticipated Bitcoin spot ETFs have just launched in Hong Kong.

Currently, Pepe is trading at $0.000007415 and has recorded double-digit gains this week. It is trading at a 6.4% premium today and is also up 10% this week, but it remains down 7% this month.

Pepe has a $3.1 million market cap, making it the 35th largest cryptocurrency and third largest meme coin. However, its $722 million 24-hour trading volume makes it the twelfth-largest crypto and second-largest meme coin.

The recent spurt in Pepe's interest follows a perpetual futures listing on Coinbase's institutional-focused outfit, Coinbase International Exchange, which serves clients outside the United States. The launch has sparked speculation that Coinbase may follow up with a spot listing on its main platform in the coming months.

Analyst Plazma recently noted Pepe's price action, suggesting it "looks very good right now." Plazma highlighted that Pepe is trading inside a wedge formation after reclaiming a crucial support level, nodding that it may soon commence its higher-time-frame uptrend.

Meanwhile, renowned trader Bluntz cited Pepe's strong recovery after the market-wide selloff, explaining, "Of all the major meme coins, Pepe looks the best. It has already cleared and reclaimed the (a) wave lows after 'turbo V' reversing from the major 0.618 Fibonacci level."

Similarly, CherryyFlavaPepe compared Pepe to its formidable Solana rival, Dogwifhat, and believes Pepe displays much more strength. "WIF has a bearish head and shoulder pattern while PEPE is showing bullish accumulation for a next leg up," the analyst wrote.

Indeed, these factors reflect the market's current excitement about Pepe, but this is not the only meme coin that looks bullish. Another is Dogeverse, having enjoyed resounding success in its presale.

Will Dogeverse Explode Next After Raising $12M at Presale?

Dogeverse, the first multichain Doge-themed cryptocurrency, is displaying tremendous momentum in its presale, raising over $12 million. The project remains available to buy at presale but has a $17 million hard cap and the price will increase incrementally throughout, so investors must act fast.

Dogevese's multichain expedition has already begun on Ethereum, BSC, Avalanche, Polygon, and Base, and it will soon launch on Solana.

This multichain approach is turning heads but traders should not mistake it for optics or a fad. Meme coins typically have some of the most volatile prices, comprising explosive rallies and devastating dumps. But Dogeverse is pioneering a new method to offset this downside volatility.

By ensuring widespread accessibility, the project negates the risk of users migrating between chains while providing more stable demand, helping absorb market-wide sell events. The move also encapsulates the community-centric spirit of meme coins, uniting the once-differential blockchain communities under one banner.

To enhance its long-term potential, the team has implemented a staking layer, rewarding holders for locking up their tokens and contributing to its price stability. Currently, they can garner an 89% APY, but this will decrease as the staking pool grows. Bringing in the incrementally rising presale price, investors are intrinsically incentivized to buy the Dogeverse presale early.