Meme Coin Rally Continues as Dogecoin, Popcat, Flockerz Post Gains
Meme coin magic is alive and well in the market this week.
Popular coins like Dogecoin and Popcat are posting sizable gains while newcomer Flockerz is going viral in its presale phase.
DOGE Price Surges 10% Thanks to Bullish Meme Coin Market
Dogecoin, the OG meme coin, is having a bullish moment.
The coin is trading at $0.133, representing a 10% gain in the past 24 hours.
DOGE has now posted four consecutive bullish daily closes and appears to be on track for a fifth.
This streak has pushed DOGE to its highest price since July 27th.
Spot trading volumes have surged 27% since yesterday to $2.1 billion, making Dogecoin the 8th most traded cryptocurrency in the world.
It has even seen more trading volume than TRON (TRX).
Open interest in DOGE futures has also climbed to $920 million, which is the highest level since mid-June.
According to CoinGlass, the coins Long-to-Short ratio, a key metric of market sentiment, currently stands at 1.04.
A number above 1 suggests more traders are betting on DOGEs price rising.
In other words bullish vibes are everywhere with this dog coin.
Solana-Based POPCAT Rallies 11% as Spot Volumes Explode
Popcat is also turning heads this week.
This Solana-based token, inspired by the popular internet meme, is trading at $1.32 after an 11% surge since yesterday.
POPCAT was up by 17% at one point before retracing slightly in recent hours.
The cat coin is now ranked on CoinMarketCaps trending cryptos list as spot volumes have exploded 65% to $147 million.
POPCAT is also nearing BONK as the second-largest Solana meme coin.
Interestingly, there doesnt appear to be any specific news catalyst thats pushing POPCAT or DOGE higher.
Most traders attribute their rallies to bullish technical factors.
However, some speculate that this could mark the beginning of a new meme coin supercycle.
If that thesis proves accurate, we might see even more market-beating gains in the days and weeks ahead.
Crypto analyst Maddox believes that will be the case.
In a recent tweet, he stated that these coins are the main narrative right now and will continue to be so for months and months.
Flockerz Presale Smashes $800K Milestone After Introducing Vote-to-Earn Model for Meme Coins
Alongside DOGE and POPCAT, a new meme coin is gaining ground.
Flockerz (FLOCK), a meme project with a unique angle, has caught investors attention with its successful presale.
Since going live, the presale has raised over $800,000, with the FLOCK token price currently at $0.005793.
While FLOCK has the same meme coin roots as DOGE and POPCAT, it offers something different.
It brings real utility through its Vote-to-Earn governance model.
This model, part of the Flocktopia DAO, allows FLOCK holders to shape the projects future and earn rewards for their input.
The Vote-to-Earn setup helps set Flockerz apart from meme coins that thrive mostly on viral buzz.
Another standout feature is Flockerzs staking rewards.
They are estimated at 2,189% per year and investors have already staked over 82.2 million FLOCK tokens.
Combining Vote-to-Earn rewards and staking yields creates a dual-earning mechanism for community members.
Its a setup that hasnt been seen before in a meme coin.
And some crypto experts, like those working for 99Bitcoins, have even suggested that FLOCKs price could 100x once the token goes live on exchanges.
All in all, the signs look promising for this new bird-themed token.
With the project seeing a huge influx of Twitter followers this week, theres a possibility that FLOCK will continue gaining traction in the final weeks of 2024.
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