Newer Meme Coins Outperform Dogecoin, Shiba Inu, As Whales Move Funds
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
Are whales moving funds from older into newer meme coins? That appears to be the case, given that a number of newer meme coins have been outperformering their more established rivals like Dogecoin (DOGE) and Shiba Inu (SHIB) during the ongoing market rebound.
Market sentiment took a battering over the weekend into Monday as US recession and geopolitical risks swirled.
But markets have since calmed, facilitating a rebound in crypto prices.
And newer meme coins like Popcat (POPCAT) are leading the charge.
While DOGE and SHIB are only up around 5% in the past 24 hours, POPCAT was up 27%, per CoinMarketCap.
The Solana-based coin was last trading just under $0.58. Bulls are eyeing a retest of the highs it set earlier this year in the $1.0 area.
The outperformance of newer meme coins could be a result of whales moving funds.
But funds aren’t just heading to already launched tokens. Various new meme coin presales are also experiencing huge demand.
Analysts at Cryptonews.com are paying particular attention to two names in particular.
Here are two newer meme coins that the Cryptonews.com team have ranked in their top presale picks.
Unlike most newly launched Pepe copycat tokens, Pepe unchained comes packed with utility.
Pepe Unchained is a new Ethereum layer-2 protocol that aims to become the go-to blockchain for meme coin trading.
Pepe Unchained’s token presale launched a few weeks ago, raising over $7.7 million so far.
The Breaker of Chains did it again!
$7.5M raised!
