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The values of popular meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have declined in recent days, mirroring the downtrend throughout the broader crypto market.
Major cryptos like Bitcoin (BTC) and Ethereum (ETH) have struggled to sustain their momentum as traders opt to take profits rather than wait for another upward leg.
In this article, we’ll delve into the current price trends of Dogecoin and Shiba Inu, and highlight three alternative meme coin projects that investors might wish to consider.
DOGE & SHIB Pull Back as Broader Crypto Market Struggles to Maintain Momentum
Dogecoin and Shiba Inu have pulled back significantly after experiencing strong rallies throughout October and early November.
DOGE is down around 13% from last Friday’s high of $0.087, while SHIB has fallen 10% in the same period.
The broader crypto market has seen similar declines over the past few days, with Bitcoin dropping below $37,000 after nearing $38,000 last week.
Ethereum is also trading lower, hovering around $1,970 after struggling to sustain above the crucial $2,000 level.
Several factors have contributed to the recent crypto sell-off, including profit-taking after the strong rallies in previous weeks.
Furthermore, the SEC’s recent lawsuit against Kraken, alleging that it has been operating as an unregistered securities business, has contributed to market apprehension.
These factors have hit sentiment-based assets like Dogecoin and Shiba Inu hard, as these cryptos often rely on investor enthusiasm and buzz to drive their values.
Which Alternative Meme Coins Could Outperform DOGE & SHIB?
With DOGE and SHIB struggling, traders looking to speculate on high-risk, high-reward meme coins may wish to consider other emerging options.
This section will highlight three lesser-known coins that could generate outsized returns compared to the major players in the space.
1. Meme Kombat (MK)
One new meme coin that’s grabbing attention is Meme Kombat (MK), a project designed specifically for the intersection of gaming and crypto.
Meme Kombat aims to engage users through a platform that enables active betting on AI-powered meme battles and passive token staking.
A key feature of Meme Kombat is the Battle Arena, where users can wager on fights between well-known meme coin mascots such as Pepe the Frog and Wojak.
These battles offer a chance to win substantial rewards if users bet on the victor.
In addition to the Battle Arena, Meme Kombat also offers a staking protocol where users can lock up their MK tokens and earn yields of over 500% per year.
Meme Kombat is currently conducting a presale that has attracted considerable attention, in which 50% of the total 12 million token supply has been made available to raise funds for launching the platform.
The presale has raised over $1.9 million so far, with the hard cap set at $10 million.
Once the presale is completed, Meme Kombat’s team, led by founder Matt Whiteman, plans to launch the Battle Arena and list MK on major exchanges.
The first in-game “season” will then commence, featuring leaderboards, special events, and more to drive engagement.
For traders seeking new and exciting meme coin opportunities, MK presents an appealing option while DOGE and SHIB struggle.
Visit Meme Kombat Presale
2. Memecoin (MEME)
Another meme coin gaining buzz is Memecoin (MEME), which originated from Memeland, a venture studio spun out of the popular meme platform 9GAG.
Memeland is focused on building a Web3 ecosystem fueled by memes, and Memecoin is part of this broader vision.
MEME is designed as a pure meme coin and parody of the crypto scene, with no promised utility or roadmap beyond entertainment value.
Despite this, Memeland generated significant presale funding for the MEME token, selling 12% of the 69 billion token supply to private investors and 11% to their community.
Since launching on exchanges, MEME has gained 2,400% from its presale price of $0.001 and is now the world’s second-largest meme coin based on daily trading volume.
While very speculative, MEME’s connection to Memeland and the broader crypto meme culture could offer further upside for investors looking to transition out of Dogecoin and Shiba Inu.
3. Samoyedcoin (SAMO)
The third meme coin investors may wish to consider is Samoyedcoin (SAMO), which launched in 2021 as a community-driven project on the Solana blockchain.
SAMO was created by a team of developers to promote Solana adoption and education through memes and community engagement.
True to its meme coin nature, SAMO achieved a rapid spike to an all-time high of $0.24 in October 2021 before declining significantly.
SAMO now trades around $0.0064, representing a 97% drop from its peak.
Despite this price crash, SAMO still has a market cap of over $23 million and regularly experiences more than $2 million in daily trading volume.
Beyond just speculation, Samoyedcoin seeks to differentiate itself from typical meme coins through charitable initiatives, like supporting animal shelters.
With Solana experiencing a massive rally recently, SAMO could capture further upside if the chain continues seeing a resurgence.
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