Pepe Price Continues to Pump Another 20% – 3 Other Meme Coins to Watch

The post Pepe Price Continues to Pump Another 20% – 3 Other Meme Coins to Watch appeared first on Coinpedia Fintech News

Meme coin season continues to prevail as Pepe jumps over 24% this week. The move has added a whopping $550 million to its market cap. 

But the frenzy is spilling over to other projects, presenting widespread opportunity. Based on the analysis, the three meme coins to watch are Smog, Sponge, and Peen.

Pepe Climbs as Buyers Rush In

Pepe has enjoyed monumental success recently, sparking an unwavering market appetite and hype.

Currently, it is trading at $0.000008397, up over 24% this week and 739% this month. The move has ignited a mania among traders, with many favouring it as this cycle’s Dogecoin or Shiba Inu.

Pepe currently has a $3.5 billion market cap, a far cry from Dogecoin’s 2021 peak of $84 billion or Shiba Inu’s of $43 billion.

“In my opinion, $PEPE has the highest probability of being this cycle’s “Why didn’t I buy it” bag. The good news is that it hasn’t happened yet, so you can still do something about it,” said analyst Max Schwartzman, shortly before Pepe’s explosion occurred.

The analyst then displayed Pepe’s price chart next to Dogecoin’s and Shiba Inu’s, with Pepe’s showing a similar trajectory to theirs in 2021.

The community widely embraced Max’s analysis, with it receiving over 380K views and 1.2K likes. This illustrates a strong belief in Pepe’s potential in the upcoming bull market.

However, taking a shorter-term outlook, Max also anticipates an uptrend continuation.

He notes that Pepe is currently “coiling” within a triangle, illustrating diminishing volatility. However, this is often followed by expansion, with the analyst expecting a move to the upside.

This bullish sentiment is widespread across the community, with the amount of Pepe holders steeply rising recently. 

According to Etherscan data, Pepe’s holders increased from 157,874 on 27 February to 181,814 today, a 15% increase in two weeks.

Yet, with meme coin market excitement ramping up, massive opportunity awaits those who spot the next big project early.

With that in mind, we have compiled a list of the three most promising meme coins that could be next to explode. Let’s take a closer look at each.

Smog

Enter the dragon’s lair with Smog, Solana and Ethereum’s leading multi-chain meme coin.

Widespread accessibility across the industry’s two most prominent meme coin markets has let Smog take flight, with its price soaring 12.55% today, 165% this week, and 286% this month. 

However, with a $230 million market cap, tremendous upside potential remains. Even to catch Pepe’s current valuation, there is room for a 15x.

As a dragon-themed meme coin, Smog “reigns over the crypto battlefield, incinerating all his foes.”

Its website says, “As the dragon fire burns, the Greatest Airdrop in History gathers pace.”

Immense excitement has swept the project, with 35% of its total supply allocated to the giveaway.

Investors gain eligibility to the airdrop by simply buying and holding $SMOG. However, they can increase their chances of winning by completing tasks outlined on the project’s Zealy page.

These quests aim to boost the project’s notoriety, grow Smog’s community, and increase the token price.

In a bid for lasting success, the Smog team also launched a staking mechanism offering a fixed 42% APY. This adds a demand stream to Smog, helping mitigate the typical meme coin volatility.

Those who buy Smog from the project’s website get a 10% discount. However, this offer ends soon, so they must act quickly.

Sponge 

Sponge launched in the depths of the 2023 bear market alongside Pepe. Like Pepe, Sponge experienced tremendous early success, acting as a beacon of hope amid the daunting market conditions.

The project reached a $100 million market cap, netting early investors a 100x ROI. It also amassed 13K holders, 30K social media followers, and over 10 prominent exchange listings. 

However, with the bull market nearing, the team launched a new initiative: Sponge V2. 

Packed with a P2E racing game and new staking mechanics, Sponge V2 boasts inherent utility, offering a distinct advantage over the original token.

As such, the token has enjoyed massive success, pumping 228% since launching on 9 February.

Another advantage to Sponge V2 is that it migrated from Ethereum to Polygon. This provides lower transaction fees and faster execution times, which is ideal for meme coin traders. 

Furthermore, despite Polygon being a top blockchain with over $1.1 billion TVL and an $11.9 billion market cap, its meme coin market has yet to take off.

This presents Sponge V2 with a first-mover advantage, having already claimed the title of Polygon’s premier meme coin.

Currently, those who buy Sponge can stake their tokens for a 481% APY, but they must be fast as this decreases as more tokens are staked.

Peen

As an emerging NSFW meme coin, Peen presents a shock factor that is proving widely resonant among market participants. 

Its adult-themed website takes a no-holds-barred approach, looking to become the “biggest meme coin eruption of 2024.”

The token launched one week ago and got off to an explosive start, pumping over 300%. However, after a retracement, Peen has started to rise again, up 59% from its lows.

Nevertheless, with a micro-cap valuation of just $1 million and $982K in the tokens liquidity pool, serious upside potential remains.

As per its roadmap, Peen targets a $100 million market cap, equating to a 100x from its current price. Given its memetic power and degen allure, such gains should not be ruled out.

Meme coins typically thrive when they offer a controversial and puzzling outlook, for example, when mainstream media outlets are forced to cover why a “dog coin” is worth multi-billions.

With that in mind, Peen’s unapologetic and crude approach could prove iconic within the meme coin sector.

Currently, Peen lacks any real-world utility, but this could also add to its allure, evident in Dogecoin and Shiba Inu’s early success.

But with Peen’s current low market cap and steadily growing price, it seems to be a matter of time before this token explodes. Therefore, those looking to buy Peen should act fast.