This week marked a new beginning for the crypto market as Donald Trump returned as the US President with pro-crypto policies. The market showed its bullish sentiments as most meme coins were on the rise, especially Dogecoin which is linked with Trump supporter Elon Musk. Other meme coins like Bonk and Pepe also showed double-digit growth in price while NEIRO made a massive comeback.
Here’s a look at the top meme coins of this week, showcasing how the market fluctuated and surged as the US election results came out along with insights about their future.
Dogecoin
(DOGE)
Price Change: Over the last 7 days Dogecoin’s price skyrocketed by more than 22% to reach the $0.1967 level on November 8.
News: DOGE gained 2.61% in the last 24 hours leading up to November 8 evening while its trading volume declined 26.45% to reach $3.77 billion. The meme coin’s market capitalization rose by 2.58% to hit $28.85 billion.
Forecast: The token attracted crypto whales throughout the week, who bought the meme coin in anticipation of Trump’s win causing the unprecedented surge in its price. The 957% increase in the transaction volume of Dogecoin on US election day on November 5, indicates a growing investors’ interest in the meme coin. As speculations of Elon Musk entering the Trump administration strengthen, Dogecoin is likely to grow further. Analysts anticipate that if the token keeps up with the current momentum it can hit the $4 mark, some even say it can rally to $23.
Shiba Inu
(SHIB)
Price Change: Shiba Inu emerged as one of the top gainers of this week as it grew by 7.76% in the last & days to trade at $0.00001895 on November 8.
News: Although the SHIB token didn’t perform that well when compared to Dogecoin and others, it has held the 2nd position in the top meme coins list this week. The digital asset’s price has increased 0.21% in the last 24 hours while its trading volume has gone down by 13.67% to be at $564.64 million. As of Friday, Shiba Inu’s market capitalization stands at $11.61 billion, up 25% in the last 24 hours.
Forecast: This week Shiba Inu saw an unprecedented 3676% surge in its daily burnt rate which shows that the SHIB ecosystem is growing. As this burnt rate gain coincided with the 7.17% price gain that day, it indicates that the community is determined to reduce the supply of SHIB to boost its value. Hence, analysts are predicting massive growth in the meme coin in the coming days with some suggesting a 2000% rally.
Pepe
(PEPE)
Price Change: Pepe is the 3rd best-performing meme coin this week courtesy of its more than 20% surge in the last 7 days which has resulted in it reaching the $0.00001079 price level as of November 8.
News: This meme coin has increased by 3.13% in its value over the last 24 hours while its trading volume gained by more than 9% to touch $1.47 billion. The PEPE token’s market capitalization spiked 2.77% in the last 24 hours to stand at $4.52 billion on November 8 evening.
Forecast: With a price volatility of 7.17% Pepe is likely to surge nearly 30% in the next 5-7 days to hit the $ 0.00001396 mark on November 13. The meme coin is showing a 69 ‘Greed’ score in the Fear and Greed Index while market sentiments indicate a bullish trend. All this indicates a potential upward price movement in the next week.
Dogwifhat
(WIF)
Price Change: Dogwifhat is holding its position in the list with a meagre 0.07% gain in the last 7 days which has placed it in the $2.32 trading zone as of November 8.
News: WIF has decreased 1.18% in value in the last 24 hours while its trading volume has increased by 7.61% to reach $493.89 million. The market cap of this meme coin was $2.32 billion on November 8.
Forecast: This week dogwifhat traded 22% below the price prediction of major analysts. The token’s price has gone down more than 4% over the month. As the coin is exhibiting a 69 greed score along with neutral market sentiments it is likely to surge after it is done testing the $2.47 resistance levels. In the next 5-7 days WIF is expected to rise more than 30% to reach $3.04.
Bonk
(BONK)
Price Change: Bonk was one of the major gainers in the US election week, as it rose 12.81% to trade at $0.00002212 on November 8.
News: Although BONK registered a weekly gain, its price is following a downward trend in the last 24 hours as it went down 0.82%. The trading volume of the token also declined by 4.09% during this time to reach $211.45 million while the market cap stood at $1.65 billion.
Forecast: With price volatility of 7% in the last 30 days and a greed score of 69, the BONK token is expected to surge 225.68% over the next month to reach $ 0.00007236. The meme coin will gain nearly 30% over the next 5-7 days to trade at $ 0.00002886.
Popcat(SOL)
(POPCAT)
Price Change: Popcat(SOL) is one of those meme coins which didn’t benefit from Trump’s win in the US election as it plummeted 4.80% to trade at $1.53 on November 8
News: The POPCAT has declined 0.20% over the last 24 hours but its trading volume has been boosted by 25.52% to reach $158.08 million. The meme coin is standing at market capitalization of $1.50 billion which has declined 0.30% in the last 24 hours.
Forecast: This meme coin’s price volatility is running a little higher than others at 9.64%. However, it has a similar 69 greed score to other digital currencies on the list. Hence, analysts are predicting a 30.16% surge in the next 5-7 days, leading the token to reach the $ 1.99 level.
Floki
(FLOKI)
Price Change: Floki has gained 0.22% over the US election week to trade at $0.0001377 on November 8.
News: Although the meme coin surged this week, it started declining in the last 24 hours of November 8, as it went down 5.62%. The trading volume of FLOKI also declined by 5.26% to reach $225 million while the market cap stands at $1.32 billion.
Forecast: Floki is likely to grow by 29.44% in the coming week, making it reach the $ 0.00018 mark. Although the meme coin has a greed score of 69 indicating investors’ interest, the market sentiments are showing a bearish trend. Hence, analysts are advocating a cautious approach.
Neiro (First Neiro on Ethereum)
(NEIRO)
Price Change: This week First Neiro on Ethereum has made a comeback to the top meme coins list due to its commendable 48.21% gain over the last 7 days, resulting in its current position at $0.002193 on Friday
News: Even though NEIRO trended this week, it has been caught in a downward trend in the last 24 hours as it declined 8.35%. This was accompanied by an 11.31% reduction in its trading volume which reached $874.76 million on November 8 while the market cap went down to $922.17 million
Forecast: NEIRO is following a bullish trend which will pull up its price to $ 0.002973 in the next 7 days despite a 14.21% volatility. This marks a 29% rise in the upcoming week.
Brett (Based)
(BRETT)
Price Change: Brett (Based) has gained a meagre 1.66% this week which has led it to reach the $0.0908 level as of November 8.
News: The meme coin has declined 2.10% in the last 24 hours while its trading volume has risen 4.72% to reach $54.38 million. The BRETT token is currently standing at a market cap of $899.95 million.
Forecast: Despite a 69 greed score, BRETT is harbouring bearish sentiments with a volatility of nearly 10%. This will result in 29% growth over the next week as it tries the $ 0.122633 mark.
Cats in a dogs world
(MEW)
Price Change: Despite a 0.86% decline in its value MEW has managed to secure a place in the top meme coins of the week list as it traded at $0.009257 position on November 8.
News: Cats in a dogs world is currently following a downward trend as it has gone down 3.34% in the last 24 hours while the trading volume of the meme coin increased by nearly 29% to reach $199.75 million. MEW is presently having a market capitalization of $812.33 million.
Forecast: With a 14.77% volatility and a 69 greed score, MEW is harbouring bullish sentiments despite the present downward trend. This could cause the token to rise 30% to reach $ 0.01235 in the upcoming week.
Closing Thoughts
The meme coin market, driven by high volatility and speculative trading, continues to show dynamic trends. Dogecoin (DOGE) leads the rally with a 22% weekly rise, fueled by speculation around influential figures like Elon Musk and political events. Shiba Inu (SHIB) and Pepe (PEPE) follow closely with notable price increases and investor interest, as indicated by the rising transaction volumes and burn rates.
However, tokens like Popcat (POPCAT) and Brett (Based) (BRETT) exhibit bearish trends despite community-driven momentum. Analysts expect continued momentum if favourable conditions persist, but investors should be mindful of the speculative nature and extreme volatility in this space.