- The broader crypto market is anticipating a historic bullish rally in October.
- With heightened expectations, top memecoins like DOGE and SHIB might lead the proposed rally.
Market experts believe October could bring a major bull run in the broader crypto market. This potential surge in the coming month is expected to be reflected in the price of top memecoins, providing investors with huge returns on their capital.
Can DOGE, SHIB, PEPE, and WIF Lead the Charge?
Notably, the crypto market has been steady lately, with Bitcoin (BTC) being the leading digital asset, retesting the $65,000 price range. Before this surge, Bitcoin and many altcoins fell sharply, with most memecoins dropping between 50% and 80%.
Many specialists believe now is the best time to buy major memecoins before the new season begins. Some of the memecoins to watch in October include Dogecoin (DOGE), Shiba Inu (SHIB), PEPE, and Dogwifhat (WIF).
Dogecoin (DOGE): The Leading Memecoin
Dogecoin (DOGE) is currently the world’s biggest meme-themed cryptocurrency, with a market capitalization of $16.7 million. Since its launch in December 2013, DOGE has seen a massive uptick in value, raising interest across various exchanges.
Although 2024 has been challenging for Dogecoin, it gained considerable interest with bullish mentions from personalities like Elon Musk. For instance, DOGE recently rallied over 6% on the heels of Elon Musk’s ‘Dogefather’ hype, as CNF mentioned earlier.
Currently, Dogecoin is trading at $0.1147, reflecting a 4.8% rise in the last 24 hours. Market experts think DOGE has the potential to reach $1 by early December.
Shiba Inu (SHIB): The Dogecoin Killer
Shiba Inu (SHIB), often known as the “Dogecoin killer,” experienced a 144% increase in value, rising to $0.0000307 in March as Bitcoin reached new all-time highs. The value of SHIB has since plunged 47% and is now trading at approximately $0.0000172.
Shiba Inu‘s price performance is now registering mild but promising swings as we approach October. Within the last 24 hours, SHIB’s price increased by 12%, while trading volume spiked by 169% to $784 million.
Pepecoin (PEPE): The Froggy-Themed Memecoin
PEPE is peculiar to other memecoins as it is based on the loveable (albeit troubled) Pepe the Frog cartoon character.
PEPE showed its increasing popularity at its highest market capitalization of over $5.83 billion. PEPE is currently on a bullish streak, trading as the 28th-largest cryptocurrency by market cap at $3.8 billion.
PEPE is trading at $0.000009197 at press time, demonstrating a 7.5% increase over the past day. The trading volume also spiked by 33% to $990 million, indicating investors’ renewed commitment to accumulating the token.
Coin analyst CryptoZeus has added to the excitement, predicting a $15 billion market cap for PEPE if Bitcoin soars to $350,000.
Dogwifhat (WIF)
Inspired by the popular Dogwifhat meme, Dogwifhat (WIF) is a dog-themed memecoin built on the Solana blockchain. The current trend shows that Dogwifhat might be breaking out of a downward trend after a six-month drop.
As CNF mentioned in an earlier article, WIF’s price spiked by 13% in just 24 hours, setting its price at $1.92. Additionally, technical analysis and on-chain data suggest Dogwifhat’s rally has potential for sustained momentum. If sales keep up, Dogwifhat may increase by 50% to $2.89.
