It’s been an eventful week in the meme coin market, with Pepe (PEPE) and Dogecoin (DOGE) seeing significant price increases.
Additionally, the emerging meme coin, Wall Street Memes (WSM), is close to hitting the $23 million mark in its ongoing presale.
In this article, we cover both of these noteworthy projects, before discussing several other fast-rising meme coins that have been attracting investor attention lately.
1. Bullish reversal on the cards for Pepe & Dogecoin
It’s been a challenging few weeks for PEPE and DOGE, with both coins seeing substantial price drops since late July.
The PEPE price has fallen over 43% in the past three weeks, while DOGE’s value has dropped around 14%.
However, the past few days have seen both meme coins bounce back strongly.
PEPE is up 16% since Monday, with the token currently hovering around the $0.00000123 level.
According to data from CoinMarketCap, PEPE is also number one on the platform’s list of the top trending cryptocurrencies.
DOGE has also risen 5% over the past three days to $0.075.
Such price shifts may suggest a potential bullish reversal for these two heavily-traded meme coins.
Both coins are also trading around their 20-day Exponential Moving Averages (EMAs) on the daily price chart, with a clean break above potentially indicating that the short-term trending has flipped in favor of buyers.
If this renewed interest can be sustained, PEPE and DOGE could be ready to leave their recent lows behind and start new uptrends.
2. Wall Street Memes presale nears $23 million raised with 3 stages remaining
Alongside PEPE and DOGE, another meme coin that’s showing up on investors' radars is Wall Street Memes (WSM).
This community-driven project aims to tokenize a massive community of traders and investors, affectionately dubbed "degens."
The Wall Street Memes presale launched in May and has seen some demand, raising nearly $23 million thus far.
At the time of writing, the presale sits at Stage 28 out of 30, with the current price per WSM set at $0.0331.
Wall Street Memes' presale is structured so that the price per token is supposed to continue increasing prio to the planned listing price.
Notably, 50% of the total 10 billion WSM supply is being allocated to presale participants, highlighting the community-driven approach of the development team.
With Wall Street Memes’ whitepaper detailing plans for Tier-1 CEX listings and an exclusive “gated community” for token holders, the team is also showcasing its long-term commitment to the project.
Given the saturation in the meme coin market, Wall Street Memes' transparency and emphasis on community involvement make it worth monitoring.
3. Bone ShibaSwap Binance listing rumors heat up
The native token of the popular ShibaSwap exchange, Bone ShibaSwap (BONE), has seen a flurry of rumors around a potential Binance listing this week.
BONE's price is up 139% since June's low, with social media users speculating that the token could be primed to go live on the world's largest exchange ahead of Shibarium’s mainnet launch.
Binance is the most-used exchange in the crypto market, with CoinMarketCap data showing that it regularly handles over $6 billion in daily trading volume.
If those rumors come true, a BONE listing on Binance would increase liquidity and exposure for the token.
Currently, BONE is only available to trade on a handful of Tier-1 CEXs, like Huobi and MEXC.
Thus, although Binance hasn't commented on these rumors, they have sparked hope among BONE investors hoping for a post-listing price surge.
4. Shibie Coin racing through presale with unique branding & tokenomics structure
Finally, Shibie Coin (SHIBIE) is also making waves in the meme coin space, branding itself as a “Shiba Inu-Barbie” crossbreed.
This provocative token seeks to capitalize on the sustained hype around the new Barbie movie and the enduring popularity of dog-themed coins like Shiba Inu and Dogecoin.
The SHIBIE presale launched two weeks ago and has raised over $260,000 – showcasing a certaininterest in the token.
With a modest hard cap of $999,999, Shibie Coin's presale is tailored to speed up the token's entry to the open market, where its valuation will respond to supply-demand dynamics.
According to Shibie Coin’s whitepaper, 60% of the total $SHIBIE supply has been allocated to the presale, while 20% will be set aside to provide DEX liquidity.
The developers also plan to use 5% of the token supply for marketing campaigns to attract new audience.
With the token’s presale set to finish in just four days, SHIBIE could be a token to monitor once it hits the public markets soon.
5. MOG Coin tops largest gainers list on CoinGecko
Finally, the new meme project MOG Coin (MOG) has topped CoinGecko’s list of the largest meme coin gainers in the past 24 hours, with its price rising over 41%.
This single-day surge has led to MOG rapidly climbing the meme coin rankings – helping it obtain a CoinMarketCap listing.
MOG Coin brands itself as a "game-changing" meme coin focused on creating and sharing viral memes on social media.
The project’s focus on humor and community is resonating with investors, driving the ongoing price movements.
However, like most low-cap meme coins, MOG’s price is solely influenced by retail investor hype – the project has no real utility or differentiation from the thousands of other meme coins in existence.
As such, while MOG’s viral marketing approach appears effective for now, sustainability is undoubtedly a concern – making it a coin worth watching in the coming days.