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This article will examine three meme coins with distinct valuations to analyze recent price activity and identify potential pitfalls or price catalysts on the horizon.
Exploring El Hippo
El Hippo, a meme coin project launched in August, is firm, adding 450% in the last month alone.
Notable factors contributing to this upswing include the recent Bitget listing and airdrops, including a $54,000 rewards program in collaboration with Bitget.
The project had already garnered attention due to regular meme contests and a sense of camaraderie in the “Hippo Army,” a group of 100,000 HIPP fans actively creating fan content online.
HIPP is currently trading at $0.00000000124, slightly below its all-time high of $0.0000000137. It has a market cap of $8.7 million.
The middle ground: Shiba Inu
Shiba Inu is a meme coin with a market cap of $5.1 billion, the 16th largest in the industry.
Its popularity is due to its mascot, a skilled marketing team, and a vibrant community.
SHIB’s price is heavily influenced by social media sentiment. It’s high, and SHIB is up by over 20% this month.
Although high-cap projects can struggle for gains, SHIB prices have been stable.
The king of memecoins: Dogecoin
Dogecoin is a well-known project known beyond crypto.
At ninth in the liquidity leaderboard, it has a market cap of around $13 billion. Although it started as a joke, DOGE is firm and approaching the $0.1 mark.
While Dogecoin may not surge, in light of its high market cap, it is being explored by investors.
Looking at meme coins
Users can look at their goals, risk tolerance, and portfolio when investing.
In crypto, they can also explore meme coins, reading from their historical price performance.
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