Meme Coins DOGE and SHIB Give Back Some Gains After Musk But Here’s One to Watch

Meme coins have made significant gains over the past week. However, the rally is now cooling off as the broader market reacts to the Fed’s decision to raise interest rates by 75 basis points. However, the broader market capitalization is still above $1 trillion despite the announcement.

DOGE and SHIB prices correct after rally

Dogecoin has dropped 5% in the last 24 hours, and it was trading at $0.133 at the time of writing. DOGE is still up by 83% over the past week. If DOGE continues correcting, it will likely drop to the lower support at $0.11 in the short term. However, selling pressure might not be too high as holders still wait for a rally to $1 if Elon Musk announced DOGE payments would be accepted on Twitter.

Shiba Inu (SHIB) is trading in the red today after dropping by 3.4% in the past 24 hours. SHIB is still up by more than 12% in the past week. The second-largest meme coin has benefited from the gains made by DOGE-themed coins. At the time of writing, SHIB was trading at $0.00001219.

However, these meme coins could likely reverse because of the massive gains made in the past week. Meme coins are usually volatile, with wild price swings that result in major gains or losses.

This meme coin could rally 10x

Tamadoge is one of the new meme coins in the market, and in the past week, it has gained by around 19%. However, the price is currently retracing as the broader market turns bearish today. TAMA was trading at $0.0287 at the time of writing after a 7% decline in 24 hours.

Tamadoge is different from the other meme coins because it gives users utility. The TAMA token powers the Tamaverse metaverse gaming platform, where players will receive rewards when they battle with other players. This utility makes TAMA a good investment in the short and long term.

Diversify your portfolio with these new cryptos

If you want to diversify your portfolio today, you might consider participating in some of the best presales.

The first presale is for Dash 2 Trade. D2T could be the next token to explode as the Dash 2 Trade platform aims to become the go-to place for crypto traders that want to make winning trades. The Dash 2 Trade presale has raised more than $4.3 million and is fast selling out. The token has already secured pre-listing on the LBank exchange.

The other best-performing presale today is for IMPT. The presale has already raised more than $12 million. IMPT.io is a blockchain-based project focused on lowering carbon emissions by enabling individuals and corporates to lower their carbon footprint.

The Calvaria presale is also worth checking out today. The RIA presale has already raised more than 1 million USDT. Calvaria is a blockchain gaming platform that will bridge traditional gaming and play-to-earn gaming.

Related

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