Meme Coins Rally as Dogecoin, Brett See Gains, and New ICO Raises Over $1M

2 months ago 19

The post Meme Coins Rally as Dogecoin, Brett See Gains, and New ICO Raises Over $1M appeared first on Coinpedia Fintech News

The crypto market has turned green this week, and meme coins are leading ahead. Dogecoin and Brett are two of the biggest gainers, with 5.5% and 7% pumps on the day. Meanwhile, the presale token Crypto All-Stars looks bullish as its raise surpasses $1 million.

DOGE and BRETT Rise On Market U-Turn

Traders have breathed a sigh of relief this week as asset prices began to rise, toppling last week’s bearish momentum.

The weekly open for the crypto and global equities markets was bullish, and this continued into the early hours of Tuesday.

The crypto market is green, and U.S. stock indexes booked gains yesterday. For instance, the S&P500 is up 1.16%. Meanwhile, Asian markets opened green on Tuesday, with the Japanese Nikkei 225 up .2% in the first two hours of trading.

Yet, the crypto market is outperforming with a 2.6% rally in the past 24 hours.

This is standard practice in bullish conditions – traders gravitate to higher-risk assets to capitalize on the positive momentum.

So, it’s no surprise that meme coins are some of the biggest gainers in crypto. Heading the way are Dogecoin and Brett, with 5.5% and 7% pumps, respectively.

Currently, Dogecoin is trading at $0.1024, up 5.5% and 2.6% this week. Its weekly performance is significant since it cancels out the strong bearish momentum we saw into Friday.

Can Dogecoin’s rally continue? Ali Martinez notes that its recent bounce is occurring on the support of a falling wedge, which is a bullish chart pattern.

“A sustained close above $0.10 could spark a bullish run to $0.15,” he wrote.

https://twitter.com/ali_charts/status/1833032677475147849

Yet it’s the Base-native meme coin Brett booking the bigger gains on the day. It is currently trading at $0.07744, up 7% today and at breakeven this week. Like Dogecoin, Brett has shown strength from last week’s upset, indicating that further gains could be on the horizon.

Bulloro suggests Brett is also trading inside a falling wedge and forecasts it will reach $0.3 within 60 days. The analyst also looks at higher-time-frame gains, predicting it will reach $1 this cycle.

The optimistic outlook for Dogecoin and Brett reflects the swelling confidence that traders have weathered the storm and the bull market can now recommence.

That means the opportunity for new meme coins like Crypto All-Stars is growing daily.

Crypto All-Stars is currently undergoing a presale and has raised over $1 million, reflecting deep-rooted support from traders.

New Crypto to Watch: Crypto All-Stars Lets Users Stake Any Top Meme Coin For Passive Rewards

Investors can put their joke tokens to work with Crypto All-Stars’ flagship “MemeVault.”

It’s still under development but will shake things up in the meme coin space by providing staking utility to the usually volatile crypto assets.

The MemeVault is slated to support all the heavy hitters, such as Dogecoin, Shiba Inu, and Pepe. It’ll even support more abstract ones, like Milady and Mog Coin.

Users must hold Crypto All-Stars’ native token, $STARS, to access the MemeVault, and they’ll earn rewards based on how much they have. Put differently, holders of all the top meme coins are in contention to grab as much $STARS as possible.

Those who buy $STARS at presale can put their assets to work immediately in the $STARS native staking contract. It currently provides a 1,200% APY, but this will decrease over time.

Although it’s just early days, top analysts are already backing the project.

“Crypto All-Stars has done a fantastic job to raise over $1 million – this is incredible,” said ClayBro.

He also noted that this occurred mainly during the market’s bearish phase, alluding its success will compound as conditions improve.