Memecoins
Memecoin BullRun: Dogecoin, Dogwifhat and Pepe Price Prediction This Week
Memecoins have taken the cryptocurrency world by storm, with some popular ones recently offering impressive returns. This trend suggests that 2024 could be the year of memcoin. One of the main advantages of memecoins is their large, dedicated community support, which sparks interest and engagement. However, they are also known for their high volatility and speculative nature. To understand what the future may hold for memecoins, it is crucial to study current trends and historical price patterns. Let’s do a quick analysis!
1. Top Memecoins by market capitalization
Dogecoin, Shiba Inu, Pepe, Dogwifhat, FLOKI, Bonk, and BOOK OF MEME are the top seven memecoins by market capitalization.
| Memecoin | Market capitalization | 24 hour volume |
| Dogemoneta | $22,381,955,751 | $1,766,495,970 |
| Shiba Inu | $13,929,310,798 | $613,538,036 |
| Pepper | $3,447,697,985 | $987,574,974 |
| Dogwifhat | $3,299,740,378 | $867,821,575 |
| FLOKI | $1,725,588,848 | $208,392,422 |
| Good | $1,636,512,521 | $280,697,213 |
| MEME book | $811,859,858 | $369,462,889 |
Let’s analyze these seven major memcoins.
1.1. 30-day change analysis of the best Memecoins
| Memecoin | 30 day change |
| Dogemoneta | -20.9% |
| Shiba Inu | -17.2% |
| Pepper | +15.8% |
| Dogwifhat | -9.5% |
| FLOKI | -12.7% |
| Good | +6.5% |
| MEME book | -17.9% |
According to the analysis of the 30-day change, among the seven main memecoins by market capitalization, only two memecoins show a positive change: Pepe (+15.8%) and Bonk (+6.5%). Others show a negative change: Dogecoin (-20.9%), BOOK OF MEME (-17.9%), Shiba Inu (-17.2%), FLOKI (-12.7%) and Dogwifhat (-9, 5%).
1.2. Analysis of weekly changes of the best Memecoins
| Memecoin | 7 day changeover |
| Dogemoneta | +8.4% |
| Shiba Inu | -1.6% |
| Pepper | +10.7% |
| Dogwifhat | +23.8% |
| FLOKI | +6.1% |
| Good | -1.1% |
| MEME book | +19.8% |
According to the 7-day analysis, among the top seven memecoins by market capitalization, at least five show positive changes: Dogwifhat (+23.8), BOOK OF MEME (+19.8%), Pepe (+10.7% ), Dogecoin (+8.4%) and FLOKI (+6.1%). On the contrary, Shiba Inu recorded a negative change of -1.6% and Bonk of -1.1%.
2. Three Best Memecoins to Watch in May
Dogecoin, Dogwifhat and Pepe are the three important Memecoins to keep an eye on in the month of May. Dogecoin is important, as it is the largest memecoin in terms of market capitalization. While its 30-day change rate is not impressive (-20.9%), its 7-day change rate is +8.4%. Dogecoin becomes the most suitable in this list because it marks a powerful seven-day change of +23.8%, which is the highest in terms of 7-day change among the top seven memecoins by market capitalization. Pepe is a natural contender on the list, as it is the only coin that has shown consistent performance. There was a positive variation over 30 days of +15.8%, as well as a positive variation over 7 days of +10.7%.
2.1. Three best historical price analyzes of Memecoin
Let’s analyze the price history of the three best memecoins.
2.1.1. Dogecoin historical price analysis
The current price of Dogecoin is $0.15561. At the beginning of the year 2024 it was around $0.09166. Between February 26, 2024 and March 4, 2024, it witnessed a strong uptrend, during which its price increased sharply from $0.08961 to $0.18290. It peaked at $0.22030 on March 28.
2.1.2. Dogwifhat historical price analysis
The current price of Dogwifhat is $3.23. At the beginning of 2024 it was around $0.17. Between February 24 and March 14, it experienced a strong uptrend, taking its price from $0.34 to $3.15. The price reached its peak of $4.57 on March 31.
2.1.3. Historical price analysis of Pepe
Pepe’s current price is $0.00000811. As of mid-February 2024, Pepe’s price stood at $0.00000122. Between February 24 and March 8 it experienced a period of uptrend. Over the period, its price rose from $0.00000130 to $0.00000900. Its price peaked at $0.00001005 on March 14.
3. Overall Memecoin Price Prediction
Analyzing the price history, it is clear that these three memecoins experienced a strong uptrend between late February and early March. None of these memecoins have seen a sharp decline since then. It seems that the bullish trend embraced by these coins at the end of February still remains intact. Even if at this juncture, all three cons show negative variations over 24 hours: Dogecoin (-4.8%), Pepe (-5.2%) and Dogwifhat (4.2%), the price analysis reassures that the underlying sentiment is favorable towards currencies.
Final note
While some analysts are excited about recent progress in the memecoin market, others point to high volatility and the absence of solid fundamentals as potential obstacles to long-term growth. These critics argue that without a clear purpose or underlying value, memecoins may struggle to sustain their momentum over time, suggesting that their popularity may be more speculative than sustainable.