The meme coin supercycle is in full swing, with some of the world’s most renowned public figures now adding to the hype alongside historic exchange listings.
Trump’s D.O.G.E Plans
The US President-elect Donald Trump has established a Department of Government Efficiency, led by Tesla and X owner Elon Musk and biotech investor, Vivek Ramaswamy. The acronym of the new department is D.O.G.E., a nod to Musk’s favourite meme coin, Dogecoin.
Smaller projects like the Department of Government Efficiency coin have also benefited from Trump’s announcement.
Peanut the Squirrel (PNUT) Explodes Again
Meanwhile, Elon Musk also posted on X about the Instagram-famous squirrel, Peanut, which resulted in a massive rally in the PNUT coin price, close to 300% in 24 hours at the time of writing.
Dogecoin, Department Of Government Efficiency and Peanut The Squirrel remain excellent long-term investments. However, the possibility of a short-term correction can’t be ignored.
Coinbase To Finally List Pepe
In breaking news, Coinbase has finally decided to list Pepe after long branding it a ‘hate symbol’.
Robinhood are also listing Pepe – plus relisting Solana, Cardano and XRP, historic news which sent Bitcoin to another all-time high.
Dogecoin Price Forecast
Dogecoin has been one of the biggest beneficiaries of Donald Trump’s landmark win in last week’s US presidential elections.
The meme coin market leader has surged by 250% over the past month and has added nearly $36 billion to its market capitalization since the election, thanks to Elon Musk’s strong support of Trump’s re-election bid.
The Dogecoin price did not see a noticeable bounce following Trump’s Department of Government Efficiency announcement, likely because the development was already priced in.
Despite DOGE’s high Relative Strength Index (RSI-14) in the daily and weekly timeframes, experts believe that it is poised for an upside continuation. The 20% pullback from $0.44 to $0.35 appears to be done, indicating the start of the next impulsive move to the upside.
Prominent crypto trader Nebraskangooner also signals that the top meme coin has secured a bullish breakout from a triangle. Similarly, the legendary Bybit trader Bluntz also claims that $1 appears to be “coded” for Dogecoin.
PNUT Price Forecast
On the contrary, the PNUT coin may have entered the “overheated territory”, following its 1300% rally over the past week. The new meme coin has reached $1.75 billion market capitalization in less than two weeks, thanks to Elon Musk’s backing and its recent Binance spot listing.
While Musk hasn’t explicitly mentioned the meme coin, he has posted at length about the Instagram-famous squirrel, Peanut, which was euthanized by the New York environmental conservation authorities. The world’s richest man even had an extensive conversation about Peanut on Joe Rogan’s popular podcast.
Typically, a Binance listing itself results in a local top for meme coins. Following its Musk-induced rise to $1.75 billion, it could see a considerable pullback – potentially between 20% to 45% – as whales lock in their profits. However, it remains one of the best meme coins to buy for the long-term.
The Department of Government Efficiency is another meme coin that could have hit a local top. Indeed, it is down 20% from today’s all-time high. Donald Trump establishing the new government efficiency department may have been a “sell the news” event.
Other Meme Coins to Watch Amid Robinhood News
Whales are wasting no time in taking advantage of the extreme bull market euphoria. They are already on to the next best meme coins to buy.
For instance, a deep-pocketed investor swapped 14.64 ETH today for Pepe Unchained (PEPU), worth $48.1k. This is the whales’s fourth major investment into PEPU, with his total position in the meme coin now worth over 100 ETH.
That whale buy took place even before the news broke of Coinbase and Robinhood listing the frog meme coin – news which could benefit all Pepe clones in the days to come as more US investors enter the market.
It wouldn’t be surprising if sidelined investors start to FOMO buy this new meme coin, considering its presale phase is ending on December 4th, less than 30 days from today.
Pepe Unchained has already established itself as one of the hottest presale commodities, having already raised over $28.1 million in its ICO.
With the strong speculation of Tier-1 listings, its in-demand features like the Layer-2 ecosystem and meme coin launchpad and strong fundamentals, it is no surprise that prominent crypto influencers are calling it the next 100x meme coin.
Similarly, whales have been stacking Flockerz (FLOCK), a new decentralized meme coin with DAO governance and unique vote-to-earn utility.
For instance, a whale swapped $54k worth of ETH for FLOCK on Tuesday, helping push its presale fundraising past the $1.6 million mark.
Flockerz is also attracting retail investments, thanks to its native staking protocol which is currently offering a reward rate of over 1100%.
Similar to PEPU, prominent crypto influencers are bullish on FLOCK, with many eyeing 100x returns from it.
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Source: https://en.cryptonomist.ch/2024/11/13/coinbase-listing-pepe-trump-launches-doge-elon-pumps-peanut-the-squirrel-meme-coin-watch/