- Meme coins suffered despite the market slightly bouncing back after the Grayscale vs. SEC drama.
- Both PEPE and SHIB saw their prices decline over the past day and week of trading.
- DOGE was able to outperform other memes as its price climbed by more than 3% in the past seven days.
The past week has not been kind to popular meme coins like Shiba Inu (SHIB) and Pepe (PEPE). While other altcoins saw their prices rise after Grayscale’s victory over the SEC, most meme coins did not share in the market-wide bliss.
CoinMarketCap shared that, at press time, SHIB was worth about $0.000008139 after its price slipped by 1.62% in the past 24 hours. Along with its price drop, the meme coin’s 24-hour trading volume experienced a more than 34% decline, which left it standing at $111.19 million.
However, numerous reports confirm the development of over 100 dApps on Shibarium. As these projects prepare for launch, analysts foresee the potential for SHIB’s price to surge by as much as 100% in the upcoming weeks. Such an increase could elevate the value of SHIB to approximately $0.00001610.
PEPE claimed a spot on CoinMarketCap’s trending list, but not for the reasons most fans of the meme coin were hoping for. Throughout the past day of trading, PEPE saw its price drop by more than 2%, which left it trading at $0.0000008652.
Things were also not looking much better for the crypto in the longer term as its price dropped by 21.02% over the past seven days. Additionally, PEPE’s price was in the red by more than 28% over the past month of trading.
On the other hand, the leading meme coin by market cap, DOGE, has been catching the eye of investors as it was able to outperform competitors SHIB and PEPE. Over the past week, DOGE’s price was able to climb by over 3%.
With regards to its 24-hour performance, DOGE’s price rose by 0.24%. This left the cryptocurrency trading at $0.06578, which was right below its daily peak of $0.06586. Anticipating the integration of Dogecoin into X (Twitter), experts have put forth a projection that the value of DOGE could surpass the $0.1 resistance level in the months ahead.
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