As July ends, August seems poised to be an exciting month for cryptocurrency, particularly for meme coins.
The market is recovering, as the Fear and Greed Index now shows “greed” and Bitcoin holds strong at $66,000. Ethereum also performs well at $3,300.
With many meme coins currently down, you have a prime opportunity to buy in before their potential rise. Here’s a look at the five meme coins to consider loading up on this August:
Pepe (PEPE)
Despite the broader cryptocurrency market showing signs of improvement, Pepe (PEPE) has exhibited a period of consolidation over the past two weeks. Weekly price action reveals an equal balance of buying and selling pressure, reflected in alternating green and red candles.
However, a deeper technical analysis uncovers a potential bullish reversal. An inverted head-and-shoulder pattern, often a precursor to market bottoms, has formed. If PEPE successfully breaks through the neckline resistance, it could signal a significant upward trend, providing investors with a solid entry point.
Pepe has been a standout performer since the beginning of this bull run. While the recent pullback might be concerning, technical indicators suggest a potential rebound. Currently trading at $0.00001022 with a market cap of $4.3 billion, Pepe maintains its position as a top-three meme coin.
Its potential to outperform Shiba Inu and Dogecoin in this cycle makes it an intriguing prospect for investors. Given the current market conditions, those considering a position in Pepe may find this consolidation period an opportune moment to accumulate.
Shiba Inu (SHIB)
As Shiba Inu (SHIB) commemorates its fourth anniversary, the crypto community is buzzing with anticipation for a potential price surge. Historically, August has been a particularly kind month for SHIB, with average and median returns both registering in positive territory.
This unusual consistency sparks optimism for another successful August. Despite experiencing a turbulent year following its meteoric rise during the last bull run, Shiba Inu remains a dominant force in the meme coin landscape.
Currently trading 80-85% below its all-time high, the token presents a potential high-reward investment opportunity. Its status as a “blue-chip” meme coin, coupled with a dedicated community known as the SHIB Army, underscores its resilience.
This strong community, boasting approximately 3.8 million members, has been instrumental in fostering a thriving Shiba Inu ecosystem. Initiatives like ShibaSwap, Shibarium, NFTs, a metaverse project, and the Shiba Eternity game exemplify the community’s drive and innovation.
PlayDoge (PLAY)
PlayDoge is gaining attention as its ICO phase nears $6 million. This new meme coin, with its Play-to-Earn feature, is attracting many investors. PlayDoge combines cryptocurrency, staking, and fun gameplay to change Web3 gaming. The team will launch a new mobile game after the presale ends.
The game is a modern version of the classic Tamagotchi Pets, which sold over 90 million copies and is loved by many. In this new version, players still care for their virtual pets by feeding them, playing with them, and completing mini-games.
Now, players can earn $PLAY tokens for their efforts. The game also has a leaderboard where players with the most XP can reach the top and earn extra tokens. This feature boosts competition and keeps players engaged.
Investors are eager to buy $PLAY tokens for $0.00525 each before the price increases in less than 2 days. Once the presale ends, the team aims for exchange listings, which could significantly impact the market. The excitement around these upcoming listings is growing.
Players can stake $PLAY on the BNB Chain and Ethereum network to earn good returns and passive income. Staking also helps keep the network secure. The game’s smart contracts have been verified by SolidProof for safety.
Visit playdoge.io to participate in the $PLAY token presale.
Pepe Unchained (PEPU)
Pepe Unchained (PEPU) has raised nearly $7 million in just over a month since its presale started. As Pepe-based cryptocurrencies compete, Pepe Unchained stays a strong contender. Priced at $0.0088396 per token, $PEPU will rise once it hits the current target, continuing through the presale stages.
Time to build!
Pepe’s hard at work! 🐸 pic.twitter.com/crteXaqwmG
— Pepe Unchained (@pepe_unchained) August 2, 2024
While Pepe faces challenges, Pepe Unchained has gained investor interest. This project plans to create a standalone layer-2 chain, moving away from the ERC-20 Ethereum token standard. The goal is to offer meme coin developers a better platform with a low-cost and high-speed blockchain solution.
Pepe Unchained also stands out with substantial staking rewards that other Pepe tokens cannot match. With a 283% APY, investors could almost double their tokens in less than a month.
Over 564 million $PEPU tokens are already locked, showing that people trust Pepe Unchained for the long term. Pepe Unchained has been fully audited by Coinsult and SolidProof, so potential investors do not have to worry about its code’s safety.
The presale’s success and the project’s ambitious plans have made Pepe Unchained a potential rival to PEPE. The competition between these frog-themed coins is heating up as both projects move forward in the meme coin market.
To take part in the $PEPU token presale, visit pepeunchained.com.
The Meme Games (MGMES)
The Meme Games (MGMES), inspired by the world’s biggest sporting event, is nearing the $350,000 mark in its presale. Investors are debating if $MGMES could bring big gains when it lists on DEXs later this year.
The Meme Games features a racing game with popular meme characters like Doge, Brett, dogwifhat, and Turbo sprinting down a 169-meter track while crypto investors watch from digital stands. Investors in $MGMES can choose a meme athlete and earn bonus tokens if their athlete wins the race.
When you buy $MGMES tokens, you choose one of five meme characters. If your character wins, you get a 25% bonus on your $MGMES purchase. It’s a fun way to earn crypto. The Meme Games also has a staking protocol for the $MGMES token.
Annual yields are set at 687%, and early investors have already locked up over 14.7 million tokens. If you join The Meme Games, you can win $MGMES tokens from races and stake them for more passive income.
Early investors can buy $MGMES tokens for $0.00915 during the presale, but this price won’t last long. Potential investors can visit our guide on how to buy The Meme Games tokens here.
The price will rise as the presale continues, rewarding those who invest early. According to The Meme Games’ whitepaper, the presale will end on September 8th. $MGMES will list on a DEX two days later.
If the developers maintain momentum, this could boost $MGMES once it hits the market. See what the future holds for The Meme Games with our $MGMES price predictions here.
To participate in the $MGMES token presale, visit memegamestoken.com.
Related
- 5 Best Meme Coins to Buy and Hold – TodayTrader Top Picks for the Upcoming Bull Run
- Top 4 Meme Coins to Watch in the Upcoming Bull Market
The post Top 5 Meme Coins to Buy in August 2024 – PEPE, SHIB, PLAY, PEPU, and MGMES appeared first on ReadWrite.
