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The Hump ($HUMP) price crashed 43% over the past month and 15% over the past 7 days to trade at $0.0013.
Among new meme coins, $HUMP has been in one of the most bearish downtrends, with a heavy retracement from its all-time high of $0.02 almost back to its early 2024 listing price.
Will the next movement be a short term bounce? Or will HUMP token dip further? In this article, we forecast where the $HUMP price could be heading in the coming weeks.
What Is Hump?
Built on the Solana network, Hump entered the market in 2024 with the intention to capitalize on investors’ surge of interest for meme coins to gain traction. At its core, the project has a lore that showcases the imagery of a furry friend, HUMP.
Central to this theme is its mission to drive the spirit of unity, innovation, and community empowerment. While promising no intrinsic utility, Hump sets out to gain value through the collective spirit of its holders.
In terms of total supply, there are only 6.9 billion HUMP tokens. However, the project failed to specify how the tokens are allocated nor give a roadmap that illustrates the direction it intends to take in the future.
Hump Price Prediction
Thanks to the aggressive Solana meme craze, $HUMP got off to a good start after making its market debut in March 2024. According to DEXTools, the meme coin saw a surge of over 1000% within the first few days of going live, delivering massive ROI to early birds.
Without a doubt, Hump’s decent performance at that time, got investors and analysts speculating that the meme coin could be the next Book of Meme (BOME). After posting consecutive gains in April, the meme coin finally reached its current all-time high of $0.0258 on the seventh day of the month.
However, this early price surge was followed by a heavy downward movement. Over the past few months, $HUMP has consistently traded down, with no significant bounces, currently down 95% from its all-time high of $0.025.
More so, according to CoinCodex, the general sentiment around the token is very bearish, meaning bulls are now shifting their attention to newer meme coins with better concepts and multiple potential upsides.
In essence, Hump’s prolonged downturn indicates that the real buzz around the meme coin is fading away. With its current fully diluted market cap of $9 million, Hump has a low liquidity which implies fewer investors and less trading activity. As such, it is no surprise that the token has become susceptible to erratic price volatility.
That being said, one major factor that could fuel a full recovery in Hump’s price is its listing on top-tier crypto exchanges. The prospect of being listed on these exchanges often increases the liquidity and exposure of a token, which in turn, boosts its demand and price. However, at the time of writing, Hump is not trading on any CEX platforms at all – not even smaller exchanges like MEXC – a development that has negatively affected its market credibility and reach.
Therefore, while market conditions and interest in meme coins are expected to play a role, there is no guarantee that the price of $HUMP would correspond to the growth seen in the industry unless there is a compelling announcement like multiple exchange listings for the token.
Nonetheless, considering the prevailing developments around the project, it is not certain that it might gain the attention of any of the aforementioned trading platforms anytime soon. As such, Hump is still expected to conclude August without any substantial price appreciation, hovering between the $0.0012 to $0.00135 range.
Above all, Hump’s overall price performance signifies one thing – it is always better to get in early on meme coins and take profit as soon as possible. Those who invested very early in Hump and took their ROI prior to its massive price correction made huge gains.
Therefore, rather than buying tokens that have been listed a couple of months ago and are currently on a downtrend, investors may be better off moving some capital to newer meme coin alternatives.
Latest Meme Coin Investment With 10x Potential – Base Dawgz (DAWGZ)
Base Dawgz is a brand-new meme coin that has taken the investing community by storm with its multichain fundamentals. Through its symbolic imagery of iconic Doge-themed characters like Shiba Inu, Wojak, and others flying through the skies while being equipped with base jumping gears, this unique meme coin project has explicitly underscored its ability to hop through many chains.
While most meme coins are confined to a single blockchain, Base Dawgz, through the aid of Portal Bridge and Wormhole technologies, is live on multiple chains, including Base, Ethereum, Solana, Avalanche, and Binance Smart Chain. Apart from solidifying its potential for success, this strategic approach also adds a layer of credibility and accessibility to Base Dawgz, allowing it to reach a broader investor base.
With the deployment of its multichain functionality, Base Dawgz opens its doors to different meme coin communities, making it possible for them to interact with its ecosystem from any of the chains they deem fit.
Another vital aspect of Base Dawgz that sets it apart from other meme coins is its novel “Share-to-Earn” program. Designed to fuel community engagement and rewards, this powerful initiative provides an avenue for social media users to win free crypto rewards through their activeness and interaction with the project on social media.
First, for sharing Base Dawgz-related memes on X, participants will earn points which will be eventually exchanged for DAWGZ tokens. With this unique strategy, Base Dawgz is incentivizing early supporters and fostering a sense of belonging within its ecosystem.
Complementing its community-driven posture is its standard staking facility which offers a lucrative opportunity for early buyers to amplify their gains. This passive earning mechanic has been unlocked on all the supported chains, including its original network, Base.
Given the impressive allocation of 20% of its total supply to staking rewards, Base Dawgz has showcased its commitment to widespread visibility and long-term adoption. At press time, those who buy $DAWGZ will enjoy a three-digit annual percentage yield on their initial investments.
Most importantly, Base Dawgz’s smart contract has been fully audited by SolidProof, a transparent blockchain security firm. The outcome of the audit, backed by multiple coverages by well-known crypto news outlets like Cointelegraph, Cryptopolitan, Bitcoinist, and Finbold serves as a testament to the reliability and legitimacy of Base Dawgz as a good meme coin investment.
Famous market experts like ClayBro, Jacob Bury, Conor Kenny, TodayTrader, and Crypto Zeus have also analyzed Base Dawgz’s significance on their respective channels. In fact, ClayBro, in one of his latest YouTube videos, described Base Dawgz as an ideal investment opportunity for those seeking to strengthen their portfolios with 10x cryptos.
Meanwhile, despite kicking off its presale barely some weeks ago, Base Dawgz has raised close to $3 million in funding, highlighting investors’ strong appetite for the meme coin.
Those interested in getting on the ground floor before its highly-anticipated exchange debut can also visit the website of the project, basedawgz.com to participate in the presale.
Priced at $0.008173, $DAWGZ can be swapped with major cryptos like USDT, SOL, USDC, BNB, or BUSD.
For the latest updates, follow Base Dawgz on X.
