The US Federal Reserve may have kickstarted a meme coin mania with its aggressive 50 bps interest rate cut in Wednesday’s FOMC.
Following Fed Chair Jerome Powell’s dovish speech, large-cap meme coins have exploded.
Solana meme coin Popcat is up by 35% in the past 24 hours, while the Dogwifhat price has also soared by over 15%.
The top Ethereum meme coin Pepe has also rallied by double-digits, with experts projecting a new all-time high in October.
New low-cap meme coins are also in high demand, with experts backing Pepe Unchained and Memebet Token as some of the best cryptos to buy after the FOMC.
Fed’s Aggressive Rate Cut Sends Meme Coins Soaring
Macro analysts believe that the US economy is entering its Goldilocks phase.
The Fed’s 50 bps quantitative easing is expected to result in a strong uptick in market liquidity. Moreover, the central bank’s latest dot plot also signals another 50 bps cut in 2024.
https://x.com/jessecoheninv/status/1836469475295838506?s=46
This is a decidedly bullish scenario for meme coins.
Unsurprisingly, Popcat is once again the top-performing cryptocurrency in the sector and has rallied by more than 35% since the FOMC.
The Solana meme coin is currently trading at $0.90, with a market capitalization of over $900 million.
Considering that some analysts are projecting POPCAT to reach a $10 billion market cap in the coming months, it remains one of the best cryptos to buy now.
Meanwhile, experts remain bullish on Pepe, owing to its strong correlation with Ethereum.
While ETH has been underperforming against Bitcoin this cycle, analysts believe that the trend could reverse in the coming weeks, which would provide an ideal backdrop for new Pepe all-time highs.
The PEPE price is trading at $0.000008, with a market cap of over $3.3 billion.
Investors are also eyeing the newly listed Binance coins, including First Neiro On Ethereum, DOGS and Baby Doge Coin.
Why Experts Are Calling Pepe Unchained and MEMEBET The Best Cryptos To Buy?
Smart money investors are not underestimating new meme coins.
For instance, whales have been recently stacking Pepe Unchained (PEPU), a low-cap gem that has raised over $13.5 million in presale funding.
As such, Pepe The Frog-themed coins are in high demand, owing to PEPE’s success. However, PEPU’s unique features set it apart from other copycat tokens.
For instance, Pepe Unchained is set to launch its own Layer-2 chain on Ethereum, offering low trading costs and fast transactions.
https://x.com/pepe_unchained/status/1836375103560650787
The developer team is also establishing the Pepe Foundation, which will offer developer grants from exciting meme coins to be built on the chain.
Owing to its unique value proposition, experts are bullish on PEPU’s upside potential, with some calling it the next 100x crypto.
Similarly, whales have been making large investments into Memebet Token (MEMEBET), a GambleFi-themed coin which has raised nearly $250k in its ICO.
MEMEBET is the native token of the Memebet Casino, the first-ever meme coin-based gambling platform.
Owing to its integration with top meme coins, Telegram-based UI and a regional sponsorship with the Argentina National Football Team, the meme coin is creating quite a buzz, with some experts calling it one of the best crypto to buy now.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
