The Dogecoin price has bounced back faster than any other top ten crypto coin in the last seven days. The world’s favorite meme coin added 18.8% over the last week and currently trades at $0.1676.
Dogecoin’s rally comes following an announcement that made the rounds on X that Tesla is now accepting DOGE as payment for merch from the EV company’s online store. However, whereas back in 2021, news like this could very easily pump the price, this week’s rally appears to be driven by broader market movements.
#Tesla has updated payment methods to include DOGE$DOGE has moved more than 40% in the last 4 days. Was it an anticipatory move?https://t.co/iZVjNRmtJk pic.twitter.com/aGHYb1VtC2
— Kyledoops (@kyledoops) May 4, 2024
By contrast, neither of the two leading cryptocurrencies came anywhere near to that level of appreciation this week. The original cryptocurrency, Bitcoin ($BTC), grew 4.5% to $65,185, while its number one contender, Ethereum ($ETH), added 1% to trade at $3,203 as of this writing.
What’s up with the Dogecoin Price and the Meme Coins Market?
Meme coins are posting some of the largest seven-day price rallies in the market right now. While Dogecoin’s rally stands out like a sore thumb among the ten largest cryptocurrencies by market capitalization, it’s one of the weaker performing assets among the five largest meme coins.
Crypto’s fifth largest meme coin, Floki ($FLOKI), a $2 billion market cap token made by fans of Elon Musk’s eponymous pet Shiba Inu, grew 19% since last Monday to hit $0.0001973 as of this writing.
DogWifHat ($WIF) and Pepe Coin ($PEPE)—the fourth and third largest meme coins both with market caps just above $3.5 billion—ballooned 30% or more over the last seven days and now trade at $3.62 and $0.059055 respectively.
Over on Dogecoin’s trading chart for the last seven months, we see brief heights of over $0.22 towards the end of March and on April Fool’s Day. The token has been fairly volatile this year, but has strong psychological support at $0.12 cents. With a Relative Strength Index (RSI) of 49 and falling, Dogecoin is likely to stabilize, but could begin taking losses if the market moves adversely.
Source: TradingView
Sealana $SEAL the Next Viral Meme Coin?
The above meme coins are stalwarts of the scene, but investors chasing the rocket-ride upside potential of the sector would be potentially better off diversifying their holdings with tokens that are still in presale.
Solana’s Sealana ($SEAL) the all-American redneck seal has already raised a quarter of a million dollars in a hilarious new presale that’s barely only a few days old.
Sealana is a spin on the viral South Park character Gamer Guy, aka Fat Computer Nerd. Gamer Guy appeared in the hit cartoon’s side-splitting World of Warcraft episode and instantly became a viral meme all on his own, recognizable by his milk-bottle glasses, screen-locked stare, messy room and gravity-defying girth.
He has symbolized anyone from the legions of disgruntled keyboard warriors writing sharp, acerbic opinions in internet comments sections, to a kind of Everyman – a symbol of the idler in everyone.
Sealana is Web3’s Everyman, beached at his desk and ballooning by the day. When he’s not making filthy degen trades, Sealana’s roving flippers reach for a sustenance of chips and tinned tuna. A true patriot reclaiming the lost American Dream!
For every 1 SOL, investors get 6,900 $SEAL tokens after the ICO’s concludes. This puts them in pole position to exploit some potentially explosive appreciation through the presale and beyond.
Users can pay using a widget on the website or by sending SOL from a decentralized wallet to this address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.
Follow the latest developments on Sealana’s X account.
Buy Sealana at the official website here.
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