Bonk, Dogecoin, Shiba Inu, Pepe pump after Elon Musk tweets

“Fine, I will get back on the meme grindstone.”

When Elon Musk tweeted this on his X (previously Twitter) account, the crypto community’s reaction was predictable. 

Degens started to mobilize, putting their all into some of the biggest meme coins in the current market. 

The Bonk price is up over 200% in March so far, the Shiba Inu price 190%, the Dogwifhat price 620%, and the 2023 meme coin-mania initiator – PEPE – experienced the biggest jump. It’s currently up 640% this month. 

Which meme tokens will explode next? We take a look at new meme coins with recent or upcoming listings after analyzing the price reactions of the top meme coins:-

BONK price

BONK’s Binance listing in the third quarter of last year was met with a lot of fanfare. 

This Solana-based meme coin became one of the biggest meme tokens in 2023, achieving an above-$1 billion market capitalization and putting Solana on the map. 

Like most meme coins, however, it fizzled out quickly, consolidating for some time before its parabolic rally this week after Elon’s tweets. 

The positive sentiment around this ‘next Dogecoin’ contender is still strong, and a major correction has not stopped the growth yet. 

Shiba Inu price

While BONK’s reaction wasn’t surprising, considering investors already rallied around Solana-based meme coins, Shiba Inu’s price action was a surprise. The Shiba Inu price has been trading sideways for a long time. 

However, all it took was one Elon Tweet, and the world’s second-biggest cryptocurrency by market capitalization increased exponentially.

However, attributing only Elon Musk’s tweet to the recent interest might not be fully correct. The Shiba Inu ecosystem has recently adopted a new token known as TREAT.

It will reportedly add a new privacy layer for the Shibarium blockchain. 

However, the timing of the release of this announcement is too convenient. It might as well be that the pump created by Elon Musk’s tweet is responsible for the devs riding the bullish wave to gain more traction for the upcoming token. 

PEPE price

PEPE has given the most beneficial reaction to Elon Musk’s tweet. The token’s relationship with Elon’s announcement has a history. 

It was Elon’s attempt to rile the crypto community by changing Twitter’s icon to Doge that fuelled Pepe’s arrival. It became the initiator of meme coin mania, becoming the fastest meme token to achieve a $1 billion market cap. 

Several copies of this meme coin arrived in the market later, using the same PEPE the frog imagery. But PEPE has become an OG, which means its success overshadowed the later tokens. 

PEPE’s price action has largely been volatile since its peak, with a dash of green candles every now and then. But Elon Musk’s tweet brought it closer to its all-time high.

Will meme coins keep on grinding and moving up? 

The question now remains: how long will the pump last? Well, it has already started to fizzle. But all may not be lost just yet. 

The hype wheel started turning again when Elon Musk dropped another tweet without context—a video of X inside a heart. Many might think it signifies Valentine’s, but the crypto community thinks Elon is cooking something. 

And they are letting him cook. 

DogeDesigner, a popular meme coin influencer at Dogecoin & MyDoge Inc, recently tweeted X’s new utility, allowing people to make calls without sharing phone numbers. 

DogeDesigner has been a good supporter of Elon Musk, going as far as to highlight many of the candid photos that he has taken with the Dogefather as one of his pinned tweets.

Rumors are now that X might soon be implementing Doge. Will it push the meme coin space further?

It might as well. However, those looking to make gains from the meme coin genre right now are better off investing in tokens that are yet to go live on any DEX. 

Meme Kombat and Scotty the AI may explode next

Among the crypto presale offerings, there are a couple of meme coins that have what it takes to thrive once they land on exchanges. 

One of them is Meme Kombat, a crypto project that blends AI and meme coins to combine the thrill of betting with the comedy of games. Featuring a plethora of meme coin characters and characters from NFTs, Meme Kombat will feature them battling each other to reach crypto supremacy. 

Those who stake its native token MK will be able to bet on these games and compound their staking rewards. 

Another new meme token that has captured the community’s interest is Scotty the AI. This meme coin represents the security of the blockchain. 

With its unparalleled AI fundamentals, it seeks to achieve lightning-speed transactions and a transparent community while safeguarding the Ethereum chain against any bad actors. 

These new meme tokens are bringing unique offerings and utility to the meme coin niche, an aspect that’s missing from the tokens that have gone up so far. 

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