Meme Coin Mania: SHIB and PEPE Soar, Dogeverse Emerges as Potential Breakout Star

Amidst the recent bearish action in the crypto market, some meme tokens are defying the trend. Shiba Inu and Pepe have rallied, demonstrating their resilience in the current market environment. However, a new meme project, Dogeverse, is generating the most buzz, with many touting it as the next breakout star in the sector.

Meme Coins Defy Market Downturn: Shiba Inu and Pepe Soar, Dogeverse Emerges as Potential Breakout Star

Amidst the recent bearish action in the cryptocurrency market, a select few meme tokens are bucking the trend.

Shiba Inu & Pepe Surge Against the Grain

Shiba Inu (SHIB) has rallied over 6% in the past 24 hours, trading around $0.000022, while Pepe (PEPE) has gained 5%, trading at $0.0000051.

Their bullish candlesticks stand out considering the broader meme coin market has witnessed a 35% decline in spot trading volume over the period.

The resilience of SHIB and PEPE, among the few meme coins managing to defy the downtrend, highlights the enduring demand for the leading "cultural coins."

However, it's worth noting that both tokens had seen double-digit percentage gains overnight before profit-taking triggered a modest sell-off earlier today.

Despite this, SHIB and PEPE have managed to hold onto most of their gains. Looking ahead, traders will be hoping they can break through minor resistance levels just above current prices.

Should these levels be breached, SHIB and PEPE could have clear paths to revisit last week's highs, representing potential upside moves of 27% and 47%, respectively.

Geopolitical and Fed Fears Fail to Deter SHIB & PEPE

The gains made by SHIB and PEPE are even more notable given the macroeconomic headwinds impacting the crypto market.

Over the weekend, geopolitical tensions escalated after Iran launched a series of drone strikes on Israel, spooking investors and leading to a sell-off in risk assets.

Meanwhile, spot Bitcoin ETFs have now witnessed three consecutive days of outflows, totaling over $58 million, according to data from SoSoValue.

These persistent outflows are likely due to the combined effects of persistently high inflation and hawkish comments from Federal Reserve Chair Jerome Powell, who has hinted at keeping interest rates higher for longer.

Amidst this turmoil, however, demand for SHIB and PEPE has persisted. While the broader sector has been hit, the resilience of these two coins is welcome news for their "diamond-handed" holders.

New Dogeverse Token Makes Multi-Chain Bet on Meme Coin Space

SHIB and PEPE are not the only meme coins challenging the decline in the meme coin market. New kid on the block, Dogeverse, has been making waves – recently surpassing $6 million raised in its presale.

Investors have been snapping up the DOGEVERSE token at a current price of $0.000296, ahead of an impending price increase.

But Dogeverse offers more than just a discounted price. Its multi-chain architecture allows DOGEVERSE holders to bridge their tokens between Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.

An investor could buy on Ethereum, bridge to Solana, and immediately begin staking with Dogeverse's protocol to earn a projected APY of 168%.

This staking functionality and portable liquidity are helping Dogeverse garner attention from both meme coin enthusiasts and those looking to earn passive income over time.

Couple this with a limited total supply of 200 billion tokens (contrasting with Dogecoin's unlimited supply), and it's easy to see why the buzz is growing on social media platforms.

Whether it's Austin Hilton calling Dogeverse a "very interesting" project or the project's Telegram channel reaching 2,300 members, the momentum suggests this could be the new meme coin to watch in 2024.

[Visit Dogeverse Presale](https://dogeverse.cc/#buy)

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