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Looks like the meme coin market is back in the green.
Today’s big winners – Bonk, PeiPei, and PlayDoge – are putting on quite the show, leaving investors wondering if we’re beginning another bull cycle.
Solana-Based BONK Roars Back to Life
Let’s kick things off with Bonk (BONK), the Solana-based token that’s been performing well lately.
BONK is rallying, pushing up to $0.000026.
That’s an 11% jump in the past 24 hours.
BONK’s now at its highest level since mid-June, and it looks like it could push even higher.
Chart watchers are perking up as BONK has just pushed past its 50-day exponential moving average (EMA) on the daily chart.
That’s usually a bullish sign for a token.
But here’s the kicker: BONK’s spot trading volumes have doubled since yesterday.
It seems like retail traders are suddenly very interested in the token.
It’s too early to say whether the rally can be extended, but BONK is one to watch in the near term.
New Pepe Twist PEIPEI Takes Meme Coin Market By Storm
Next up, we’ve got PeiPei (PEIPEI).
This new twist on the Pepe meme has gained serious traction this week.
In fact, among the established meme coins, PeiPei’s been the top gainer in the last 24 hours.
Currently trading at $0.000000246, PeiPei is proving that “copycat” meme coins are still in high demand.
And with the token’s spot volumes hitting $142 million, outpacing Book of Meme, a lot of money is flowing into this new coin.
Interestingly, PEIPEI is only available on a handful of exchanges right now.
That limited access could mean there’s still room to run for this frog-themed token.
So, while it’s already posted solid returns, PEIPEI might just be getting started.
PlayDoge’s $5.3M Presale Raise Hints at P2E Meme Coin Potential
Let’s not forget about PlayDoge (PLAY), the new presale project that’s creating quite a buzz.
Although it’s not yet launched, PlayDoge has already raised $5.3 million in funding.
Talk about a strong start.
The main reason for PlayDoge’s early success is that the creators are bringing a meme-style play-to-earn (P2E) game to the table.
Players can adopt a virtual pet, feed/play with it, and earn PLAY tokens as a reward.
The better players care for their pets, the more crypto income they’ll earn.
It’s no surprise that this setup has led to a lot of early excitement around PlayDoge and its potential.
The team is targeting a sweet spot of nostalgia and blockchain rewards – a combination yet to be seen in the crypto market.
And with plans to launch PLAY on DEXs later this year, the hype is building fast.
Thousands of people are active on PlayDoge’s Twitter and Telegram channels.
Combine that community backing with PlayDoge’s high staking rewards, and you’ve got a recipe for a possible meme coin success story.
Pepe Creator’s New Coin HOPPY Continues to Rise
Another meme coin that’s been performing well today is Hoppy (HOPPY).
This frog-inspired token has jumped 13% since yesterday, placing it second on the meme coin gainers list.
It’s not bad for a token with no utility.
HOPPY has just passed a $50 million market cap and accrued $15 million in spot trading volume over the past 24 hours.
The token’s main appeal is that it’s based on a character from Matt Furie’s comic “The Night Riders.”
That’s the same guy that brought us Pepe.
Most of HOPPY’s trading volume is currently happening on the Uniswap DEX.
But if the token can land a major CEX listing, the price could really begin to soar.
PepeFork Notches Solid Gains as Spot Volumes Tick Up
Last but not least, let’s talk about PepeFork (PORK).
This token’s been on a solid run since yesterday, producing a 9% gain for holders.
PORK, as it’s affectionately known, was launched back in January.
Its main aim is to take a stab at the original Pepe’s developers.
PORK was essentially created as a response to concerns about PEPE’s transparency and creators.
Although it hasn’t had the same impact as its predecessor, PORK seems to be on the right track now.
Spot volumes are up 11%, and the token has hit a $47 million market cap.
If PORK can maintain its positive trajectory in the days and weeks ahead, it could turn out to be a worthy meme coin contender.
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