On August 5th, Bitcoin plummeted from $62K to the lowest point of $49K – this marked Bitcoin’s most severe price tumble since the FTX collapse in 2021.
Despite the pessimistic predictions from analysts that the crypto crash will continue its trajectory, Bitcoin and others managed to bounce back.
Luckily, they weren’t right, considering that Bitcoin quickly retracted from those low points and landed at around the $57,000 price mark.
However, many investors aren’t willing to risk it anymore, and are increasingly turning their attention towards the presale market.
Some of the whale wallets that we tracked are in ICO’s such as Pepe Unchained ($PEPU), Base Dawgz ($DAWGZ), Shiba Shootout ($SHIBASHOOT), and the newest of the bunch, Meme Games token’ ($MGMES).
Let’s snoop around more.
Bitcoin (BTC) demonstrated resilience on Thursday, continuing its recovery from the sharp downturn experienced earlier in the week.
The cryptocurrency market, along with other risk assets, had been rattled by growing concerns of a potential U.S. recession and a significant repricing of major technology stocks. This turbulence drove Bitcoin to a six-month low of $49,000 on Monday.
While the recovery is still in progress, Bitcoin has made notable strides since the beginning of the week.
Thursday's early trading saw the BTC/USD pair climb by 5%, pushing the price above the $57,000 mark. The upward movement suggests a gradual restoration of market confidence.
Despite these gains, Bitcoin remains slightly down by just over 1% compared to the previous week.
However, there are indications that Monday's severe drop may have been a temporary setback rather than a more serious, prolonged decline.
First, let’s briefly see what these coins are all about.
Pepe Unchained ($PEPU) – Meme Coin Built with Layer 2 Technology
Base Dawgz ($DAWGZ) – New Top DOGE Derivative?
PlayDoge ($PLAY) – P2E Project Backed by Crypto Educators
Shiba Shootout ($SHIBASHOOT) – Wild West Meets Crypto
The Meme Games ($MGMES) – Official 2024 Olympic Games Meme Coin
Now, let’s see all the details about these coins.
Pepe Unchained ($PEPU) is one of the best meme coin presales pf this year, that gets its inspiration from the hugely successful, Pepe Coin.
At the heart of $PEPU's appeal is its custom-built "Pepe Chain," engineered as a layer-2 solution to overcome many of Ethereum's limitations.
Layer-2 advanced blockchain architecture tackles one of the most pressing issues in meme cryptos: scalability.
According to the project's official website, Pepe Chain boasts transaction speeds up to 100 times faster than Ethereum, thanks to its enhanced volume capacity.
The blockchain features much lower transaction fees compared to Ethereum, addressing a long-standing concern among crypto users.
The ongoing presale has already reached an impressive $7.5 million, a huge number that even some larger projects couldn’t boast with this early.
Base Dawgz ($DAWGZ) is a DOGE-inspired meme coin, but it’s far from just another copycat.
In just a few weeks, Base Dawgz's presale has raised over $2.8 million. That's no small chunk of change, and it's got people talking about whether $DAWGZ might be the next big meme coin like DOGE and PEPE.
While Base Dawgz calls the Base blockchain home, it's not limiting itself to one network. Whether you're team Ethereum, Solana, Binance Smart Chain, or Avalanche, you can get your paws on some $DAWGZ.
But here's where it gets really interesting. The brains behind Base Dawgz have cooked up something called Share2Earn. It's pretty simple: create and share stuff about Base Dawgz, and you'll earn points.
So, is Base Dawgz just another hyped up meme coin, or could it become the established player? Only time will tell, but with its strong start and clever features, it's definitely one to watch.
PlayDoge ($PLAY) is breathing new life into the classic Tamagotchi concept by combining it with blockchain. PlayDoge’s mobile game combines nostalgia with modern Play2Earn mechanics.
Players earn $PLAY tokens and experience points (XP) for their in-game activities. High XP earners climb the leaderboards, unlocking additional rewards. The game features various mini-games, catering to both casual and competitive players.
The project's popularity is evident in its approaching $6 million funding milestone. By merging a beloved gaming concept with blockchain technology, PlayDoge aims to capture both the cryptocurrency enthusiast and nostalgic gamer markets.
The project's highlight feature is its "Cactus Staking" system, which visualizes token growth as a growing cactus. Early adopters are currently enjoying high APY rewards of around 1075%, though this rate is expected to decrease as more investors join.
At the time of writing, Shiba Shootout is nearing $900,000 in fundraising. This performance indicates growing interest in the project's unique blend of playful theming and lucrative staking chances.
By combining familiar meme coin elements with innovative features and an engaging theme, Shiba Shootout aims to carve out its own space in the competitive cryptocurrency market.
The Meme Games ($MGMES) is making waves in the crypto world by cleverly merging Olympic excitement with meme culture and play-to-earn mechanics.
$MGMES’s flagship game, 'Meme Olympics', puts a funny spin on sports by allowing players to compete as popular meme characters in various Olympic events.
The investors are taking notice, which is evident with current presale raising almost $350,000 to date.
What sets The Meme Games apart is its unique incentive structure, offering presale participants up to 25% bonus tokens for winning in-game events.
By tapping into the global appeal of the Olympics, the viral nature of memes, and the growing interest in play-to-earn crypto games, The Meme Games is positioning itself for huge growth. Some experts are even saying that a 100X pump is not far-fetched.
As Bitcoin shows signs of recovery from its recent dip, the overall crypto market breathes easier as well.
While established coins like Bitcoin remain important indicators of market health, investors are increasingly diversifying their portfolios with emerging projects.
Meme coins and play-to-earn tokens like Pepe Unchained, Base Dawgz, PlayDoge, Shiba Shootout, and The Meme Games are attracting attention with their innovative features and strong presale performances.
These projects demonstrate the crypto market's adaptability and potential for growth, even in uncertain times.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.