On Monday, crypto prices were in freefall. But now, meme coin season is starting again.
Brett, Pepe, and Mog Coin are the top performers, each booking significant gains.
Market Capitulation Turns to Euphoria as Meme Coins Rally
Global recession fears crushed crypto prices on Monday.
But that’s all changed.
The market is pricing in money printing, which all but guarantees a crypto bull run return.
After macroeconomic woes in the United States and Japan, the U.S. Federal Reserve is expected to take swift action and make big rate cuts in the next Federal Reserve Open Markets Committee meeting.
According to CME Group’s FedWatch tool, there’s a 53% chance that rates will be cut by 0.5 basis points in September.
Traders are well aware of this and understand the bullish repercussions on risk-on markets like crypto.
As such, they’re scrambling for discounted meme coins, hoping to generate massive riches as prices recover.
Brett has seen the biggest gains, up 11% in the past day.
It is currently trading at $0.010 and remains down 15% in the past week despite today’s gains.
VikingXBT points out that Brett’s bounce occurred at a key structural level.
According to the trader, this could be an “extremely good entry.”
Pepe has also posted significant gains.
It is currently trading at $0.00000853 and is up 8% today. However, it remains down 16% this week.
Analyst Top Gainer Today predicts a jaw-dropping rally to $0.000025 for Pepe.
From its current price, that would entail a 193% increase.
And lastly, the cat-themed Mog Coin is up 15% today and priced at $0.00000149.
But like Brett and Pepe, MOG remains at a discount this week, down 7%.
Yet the future looks bright.
The meme coin market is euphoric, which is excellent for emerging projects.
One of the top meme coins hoping to capitalize is Base Dawgz, a trending presale available on multiple blockchains.
Could Viral Meme Coin Base Dawgz be the Next Crypto to Explode?
Base Dawgz is a meme coin that does it all.
Let’s start with its multichain functionality.
Unlike most mono-chain meme coins, you can invest in Base Dawgz across all the top blockchains (except Bitcoin).
Its home chain is Base, the same as Brett’s. Given Brett’s recent run, this could prove beneficial.
But you can also buy Base Dawgz on Ethereum, Solana, BSC, and Avalanche.
Meme coin communities are no longer fragmented; everyone can unite under the Base Dawgz banner.
And here’s something else:
Base Dawgz is packed with utility.
It has staking, which allows users to compound their investment.
And it has refer-and-earn.
Users can share a referral code on social media and gain eligibility for a $DAWGZ airdrop.
This blend of features is taking the market by storm.
The 99Bitcoins YouTube channel speculates it could 100x and “make you a millionaire.”
“If you want to make money in crypto, your best bet is getting in early,” said the analyst.
And when it comes to Base Dawgz, those who buy today are indeed early.
However, a price hike is set to occur in just three days, so those seeking the most value for money should not wait around.