Meme coin mania has returned to the crypto market, driving the price of popular tokens like Dogecoin (DOGE) and Pepe (PEPE) higher in the past day.
Amid this hype, one project arguably generating the most buzz is Dogecoin20 (DOGE20). The project has raised $10 million in its ICO ahead of imminent exchange listings.
Dogecoin Rallies to $0.18 as Meme Coin Mania Ramps Up
Dogecoin has caught a fresh wave of buying pressure, pushing the coin to prices not seen in over a week.
DOGE is currently trading at $0.18, representing a 3% gain from yesterday’s lows.
The rally extended even further earlier in the day, with Dogecoin spiking 7% higher before a bout of profit-taking trimmed those gains.
Despite the pullback, DOGE’s price action was strong enough to pass a key technical level – the 20-day exponential moving average (EMA) on the 1-hour chart.
With dip-buyers emerging to prop up the uptrend, Dogecoin now finds itself within striking distance of revisiting its recent two-year high from March 5 at around $0.208.
If investors can sustain the buying momentum, DOGE would need to rally just 13% more to retest that level.
However, one potential bearish catalyst is that over $116 million worth of DOGE was sent from three crypto wallets to the Robinhood exchange yesterday.
This massive transfer could hint that large investors may be looking to take profits on their recent gains.
PEPE Leaps 11% Amid Resurgent Hype Cycle
Dogecoin is far from the only meme coin benefiting from bullish momentum today.
PEPE has also seen a powerful surge – currently trading around $0.0000083 after jumping 11% from yesterday’s lows.
At one point earlier today, PEPE’s gains reached a staggering 17% before profit-taking kicked in.
The rally nearly allowed the token to break through a stubborn resistance level at $0.0000085 that has held firm several times over the past week.
Whether that ceiling will finally be breached remains to be seen, as PEPE has retreated slightly following its sharp price spike.
But the heightened interest in the token is evident from the substantial boost in trading volumes, which have ballooned 59% higher in just the past 24 hours to over $1.1 billion.
This makes PEPE the 15th most traded cryptocurrency globally in that time frame.
Overall, the synchronized pumps of DOGE and PEPE show that the meme coin craze is far from over.
Dogecoin20 ICO Sells Out at $10m Ahead of April Uniswap Listing
Amid the bullishness surrounding established meme coins like DOGE and PEPE, one project at the heart of the frenzy is Dogecoin20.
This “Doge upgrade” has been generating huge buzz – and that buzz has fueled enormous demand for its ICO.
In a significant milestone, Dogecoin20’s team announced yesterday that the ICO has officially reached its $10 million hard cap.
This means that all discounted DOGE20 tokens allocated for the ICO have been sold.
However, meme coin enthusiasts looking to secure DOGE20 before its open market debut have one final pre-launch opportunity.
Dogecoin20 has entered a post-ICO sale today, allowing investors to buy tokens for $0.00022 using ETH, USDT, or a credit/debit card.
While no definite timeline has been provided for this post-ICO sale phase, investors are racing against the clock to secure their DOGE20 tokens before the project’s highly anticipated exchange debut on April 20.
More than 5,300 people have opted to follow Dogecoin20 on Twitter ahead of the token’s launch – and a further 5,000 people are actively participating in the project’s Telegram channel.
Dogecoin20 has even begun to attract attention from high-profile names on YouTube.
For example, analyst Matthew Perry, who has an audience of over 218,000 people, stated that he believes DOGE20 is “better than Dogecoin.”
With hype now building from all angles, Dogecoin20 looks poised to make a splash when it finally hits exchanges next month.
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