The meme coin market is absolutely thriving at the moment. In fact, we have never seen such a period of growth for the sector in its history. The total market cap is now just shy of $120 billion. This is a mind-blowing figure when you consider that number had never been above $90 billion until now. The number-one-ranked meme coin, Dogecoin ($DOGE) is helping to lead the charge.
DOGE Leads Crypto Rally While Investors Pour Millions Into First Layer 2 Meme Coin
Elon Musk seems to have breathed new life into an old dog as $DOGE has soared. However, a new Layer 2 powerhouse is lurking in the shadows.
It is likely that Elon Musk’s close association with the Trump campaign was the much-needed spark that $DOGE needed. Now Musk has even managed to get a crypto reference into his appointment to the president-elect’s cabinet. He will be joint leader of the Department of Government Efficiency (DOGE). This will likely do wonders for the price of the meme coin.
Dogecoin may have sprung back to life but there may be an even more popular meme coin about to launch. Pepe Unchained ($PEPU) is a fascinating presale that has broken all sorts of records and looks destined for greatness. Below we are going to review its project as well as the following coins: Crypto All-Stars ($STARS), Flockerz ($FLOCK), FreeDum Fighters ($DUM), and Salukis ($SALUKIS).
Pepe Unchained- The most successful meme coin presale of all time
We are not being hyperbolic when we say that Pepe Unchained could be a real challenger to the number one meme coin throne. It has been a long time since a meme coin presale had this much promise. Actually, it is the first to have this much promise considering it has raised more money than any token in history. Its official tally now has just surpassed $29 million.
The investor obsession for this new token comes from what it could one day become. The project believes the Pepe meme has been held back by its Layer 1 constraint. So, they have built their project on top of Ethereum. This gives Pepe Unchained its own chain. There are a lot of possibilities that come from this and also investors benefit from staking rewards and cheaper gas fees.
What the project wants to do is become the next big launch bad for crypto tokens, especially new meme coins. If you look at what coinbase did this year with Base, Pepe Unchained is hoping to surpass that. Creators can already apply for a development grant. Be warned there are only 29 days left to get $PEPU at its presale price before listings begin.
Crypto All-Stars- This staking sensation has hit another presale milestone
The Crypto All-Stars ($STARS) presale has been steadily chugging along but recently has started to pick up a lot of steam. It's now hit another milestone as it has just surpassed $3.5 million raised. Despite this good performance, we still believe this is a criminally underrated presale because of how innovative the centerpiece of the project is.
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What we are referring to here is the Meme Vault. This is something that is going to unite meme coins under one roof. For the first time ever you will be able to bring other meme coin tokens to the Meme Vault and stake them for rewards within the Crypto All-Stars protocol. That makes it the first multi-chain and multi-token staking system.
A long list of meme coins has already been confirmed. Crucially tokens like Dogecoin ($DOGE), Shiba Inu ($SHIB), and Pepe Coin ($PEPE) are all included. $STARS can also be staked for estimated rewards of 362% per annum. The native token is very valuable, if you hold it and stake other meme coins you receive 3x the rewards.
Flockerz- Rewards and decision-making power, what's not to love?
When we were looking for some of the best Layer 2 meme coin options Flockerz ($FLOCK) came across our radar. Once we checked it out it was a no-brainer investment because it is the perfect token for meme coin enthusiasts. It mixes a sense of humor with real utility and that is the perfect combination.
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The presale is still in its early stages but has now reached $1.7 million raised. The meme at the center of the ecosystem is called King Birb. If you visit the site you will see he's the only strong-looking bird while the others are degen dummies. The joke here is that he was once a king but then found himself among his degen followers and realized this was where the real power lay.
So, he decided to create a vote-to-earn system that would empower his followers and thus give everyone a voice. That is what we have here with Flockerz and Flocktopia, a revolutionary DAO. Investors get a vote in what direction the project goes in the future and even get rewarded for doing so. We can not think of a better combination to attract meme coin investors.
FreeDum Fighters- Another innovative project that uses staking uniquely
We just had a vote-to-earn project now we have a stake-to-vote project. FreeDum Fighters is a PolitiFi token that was set up as a humorous alternative to the actual US election. When investors staked their tokens they could either vote for Magatron or Kamacop. They were then entered into the corresponding staking pool. The election is over but FreeDum Fighters are just beginning.
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While most PolitiFi tokens are now being forgotten as we leave the election behind, FreeDum Fighters has big plans. They want to hold weekly voting competitions on their site. Investors will be able to stake and then choose their side of the argument. There will even be a debate section where investors will be rewarded with more crypto if their argument is considered a winner.
Salukis- The dogs that want their investors to have a giving spirit
We are going to end on a very wholesome note here with a project called Salukis ($SALUKIS). The meme story behind the project involves a bunch of dogs from a faraway planet who set off to explore the universe. However, they crash-landed on Earth and decided to change their goal.
Their new goal was to help people on Earth and that is what this project is about. Investors will be able to vote for what charity they wish this project to donate to. The winning charities will then get a portion of each transaction donated to them. A real chance to help do some good.
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Conclusion
That brings us to the end of our analysis. As you can see while Dogecoin is performing well, it has some seriously stiff competition coming through the presale market. We expect $DOGE to perform well in the short-term but long-term, these are the much better options.
Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.
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