Crazy Meme Coins: The Market Effects Caused by Internet Celebrity Pets
Today, retail investors are more enthusiastic about meme coins than ever before. PNUT is a popular project recently. This meme coin based on the internet celebrity pet squirrel Peanut has been popular all over the Internet for only two weeks, driven by a tweet from Elon Musk. The death of the squirrel Peanut has triggered heated discussions on American social media. For a time, right-wing groups expressed their support, which further boosted the rise of PNUT. As Musk said: "A squirrel and a meme coin saved America!"
Why is Meme coin so popular?
Essentially, the popularity of meme coins is a rebellion against the traditional financial system. In the context of economic downturn, more and more people hope to get rich through high-risk investments, and meme coins just meet this psychological need.
From 300 to 3 million: These 3 Meme coins can help you achieve financial freedom!
NEURO
As the memecoin market ushered in a wave of explosive growth, Neiro took off, not only recording a growth of more than 30% in early July, but also maintaining a strong upward trend recently, becoming the focus of market attention. Neiro's buyer interest continues to soar, and the number of its addresses has exceeded 198,000. This increase in data is undoubtedly a direct reflection of the high market sentiment. Buyers dominate the market, and the demand for increasing positions is gradually released, indicating that more funds are pouring in, whether new retail investors or institutional investors, which may drive it to rise further.
The buying power in the market is strong, and the pressure of increasing positions is gradually accumulating. The future explosive power of Neiro is full of expectations. Faced with such a situation, this dark horse may not reach its peak yet. Investors can pay close attention to the next trend and seize the new round of wealth opportunities of potential coins!
DOGE
Market sentiment is gradually stabilizing: As global stock markets stabilize and the cryptocurrency market matures, market sentiment is expected to gradually stabilize. Against this backdrop, DOGE's price is expected to be supported.
From a technical perspective, DOGE’s correction is close to half of its previous gains, and it is expected to form a bottom support in the short term. If the market sentiment improves in the future, DOGE is expected to rebound.
Long-term development prospects: As an innovative cryptocurrency, DOGE has broad development prospects in payment, commercial applications, etc. With the continuous development of the cryptocurrency market, the value of DOGE is expected to increase.
SHIB
Shiba Inu (SHIB) has experienced significant price fluctuations recently. In the past week, its price increased by 31.10%. In the last month, it increased by 33.83%. However, in the past six months, the change is very small, only 0.08%. This shows that SHIB has significant short-term growth but remains relatively stable in the long term.
Currently, SHIB’s price range is between $0.00001894 and $0.00003064. The nearest resistance is $0.00003521, and the nearest support is $0.00001181. Its 10-day simple moving average is $0.00002530, and its 100-day simple moving average is $0.00002609.
These indicators suggest that if the uptrend continues, SHIB’s price could move towards resistance. Reaching the nearest resistance level would imply an upside of about 15% from the current high.
