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Could Dogeverse Be the Next Big Meme Coin as Pepe Coin Reaches $5 Billion Market Capitalization?
Pepe coin has reached a new all-time high of $0.0000127 on Tuesday, according to data from CoinGecko.
Furthermore, the meme coin has achieved a market cap of $5 billion for the first time in its history.
Experts believe that the price of Pepe will continue to rise as it shows a strong correlation with ethereum.
Meanwhile, investors on the lookout for the next meme coin with significant growth potential have identified Dogeverse as one of the top contenders.
Pepe Shows Strong Correlation to Ethereum – Will It Flip Shiba Inu?
During this bull cycle, Pepe coin has outperformed Dogecoin and Shiba Inu, attracting significant whale activity.
While Pepe’s price has risen by over 600% in the past year, Shiba Inu has experienced a 200% increase.
Pepe’s remarkable performance is not accidental. As the largest ERC-20 meme coin, it has acted as a “leveraged eth,” offering higher gains than Ethereum in the same direction.
This pattern is not unique either. Top Solana meme coins like Dogwifhat and Bonk have also functioned as beta bets on Sol during this bull cycle.
With the likely approval of a spot Ethereum ETF, some experts are even projecting ETH to reach $10,000. In such a scenario, it would not be surprising if Pepe emerged as the top-performing meme coin, surpassing even Shiba Inu.
For instance, popular crypto investor Mando (@rektmando) revealed that he immediately bought Pepe coin when news of the Ethereum ETF approval broke.
the first thing i snap bought on the ETH news was $PEPEthe next thing I’m buying is SOL & SOL memes
— Mando (@rektmando) May 20, 2024
Another investor, Blockgraze, who was also an early investor in $WIF, is extremely bullish on Pepe. He suggests that investors can go all in on Pepe and outperform 99% of the market.
His optimistic long-term outlook on Pepe is supported by on-chain data as well. Lookonchain reveals that one investor, who initially purchased $83 worth of $PEPE, is now worth over $80 million simply by holding onto their Pepe assets.
The $PEPE price just hit a new all-time high! This diamond trader turned $83 into $79.4M by buying and holding $PEPE, a gain of 958,580x! 3 wallets (belonging to the same person) spent only 0.041 $ETH ($83) to buy 6.44T $PEPE ($79.4M), and have never sold any $PEPE to date… pic.twitter.com/CeLmbmVogz
— Lookonchain (@lookonchain) May 21, 2024
Could Dogeverse Be The Next 100x Meme Coin?
The multi-chain meme coin Dogeverse continues to gain attention from investors, having already raised over $15 million in its presale.
There is significant hype surrounding this new project for good reason. Dogeverse is the first meme coin to launch in 6 blockchain ecosystems, including Ethereum, Solana, Polygon, Base, bnb Smart Chain, and Avalanche.
As mentioned earlier, meme coins benefit from their native tokens’ bullish strength. In the case of Dogeverse, it stands to benefit from the growth in 5 different native tokens. This innovative concept could become the new standard.
Additionally, Dogeverse’s multi-chain status allows it to dominate the meme coin market after its launch. The token will be available on popular decentralized exchanges and centralized exchanges on each of the mentioned chains, attracting significant attention and maximizing its potential price increase.
It is not surprising that notable crypto investors like TodayTrader believe Dogeverse could deliver returns of up to 1000x after its launch.
Disclaimer: This article is for informational purposes only and should not be considered as legal, tax, investment, financial, or other advice.