NewsletterMemecoin Season Upcoming With Dogecoin Rally? Here’s Why
In the recent times, price rise of DOGE, SHIB gave hopes of a memecoin rally amid a bearish environment. While SHIB took a sudden spike in last few days, DOGE rose steadily over a week’s time. As the market continues to experience turbulent times, a memecoin season could prove to be the much needed push. In line with this, even Bitcoin saw a short rally over the last one month.
However, chances are that the ongoing Bitcoin rally is just a brief aberration. Experts believe the next few months could see Bitcoin take a significant fall in price. In this context, certain influencers believe a memecoin rally could pan out well for crypto investors. The community is also anticipating the Ethereum Merge scheduled for September 15. Many believe the network upgrade could be a catalyst for the current bear market cycle.
Memecoin Rally Very Soon?
Dogecoin (DOGE) price took a jump recently thanks to the launch of Dogechain. The new blockchain platform comes across as a layer 2 for Dogecoin. It gives DOGE users access to DeFi, opening up potential for use cases. With the new platform receiving great interest from users, there was a spike in the token price. Since its launch last week, the platform saw huge wallet addresses coming. There were also huge total transactions in a short time.
“Dogecoin is about to spark a crazy meme coin season like nothing we have ever seen before.”
SHIB’s Sudden Spike
Meanwhile, Shiba Inu (SHIB) saw a sudden rise in price in the space of hours. Showing a 37% increase in market cap, the valuation took a jump from $6.97 billion on August 14 to $9.55 billion next day. This makes it even more speculative about a possible memecoin rally in near future. As of writing, SHIB is trading at $0.00001423, down 7.62% in the last 24 hours, according to CoinMarketCap. Whereas Dogecoin (DOGE) price stands at $0.07805, down 5.86% in the last 24 hours.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Arthur Hayes Issues Advice To ZEC Holders Amid Push For Crypto Privacy
- Market Structure Bill: Senate Ag Committee Targets Early December Markup
- Breaking: U.S. SEC Unveils ‘Token Taxonomy’ To Help Classify Crypto Assets
- Winklevoss Twins Unveil Zcash Treasury Company Cypherpunk, Eyes 5% ZEC Supply
- Breaking: U.S. House To Vote On Bill To End Government Shutdown Today, Bitcoin Rises
- Ethereum Price Holds Above $3,400: Can Bulls Defend This Key Support?
- After a 108,000% Burn Spike, Will Shiba Inu Price Hit $0.000016 Next?
- Bitcoin Price Eyes Fresh Rally as U.S Government Reopening Sparks Risk-On Mood
- Pi Network Price Eyes Rally to $0.5 as Top Whale Holdings Nears 375M Tokens
- When Will Solana Price Reach $300: Prediction and Analysis
- Chainlink Price Targets $20 After Bitwise ETF Gets DTCC Approval
