Meme coins are having a bullish moment at the start of the week.
Pepe (PEPE) and Dogeverse (DOGEVERSE) are leading the pack of top gainers on Monday as the popular frog token and multi-chain dog coin benefit from a wave of speculative demand.
Pepe Coin Leads Meme Coin Charge
Kicking things off is PEPE, which has seen a remarkable 9% price surge in the past 24 hours.
But this sharp upswing is just the latest in a remarkable rally for PEPE – the token has now rocketed over 30% since Friday.
At the time of writing, PEPE is changing hands at $0.00000641, marking its highest price in ten days.
The technicals are also looking increasingly bullish for the frog-themed token.
PEPE has strung together four straight daily closes in the green and seems poised to make it a fifth today.
More impressively, the token has managed to break above its 20-day exponential moving average (EMA) on the daily chart for the first time since April 12.
This bullish leg for PEPE arrives after a rocky period where the token’s price rejected support around $0.00000490.
But the tides have clearly turned – and meme coin investors are now piling back into the infamous token to start the week.
Dogeverse Presale Passes $9M as Investors Rally Around Multi-Chain Concept
While PEPE has captured headlines with its rally, another meme coin is also making waves on Monday.
Dogeverse, currently in its presale phase, just passed the $9 million milestone in USDT raised.
The project’s ambitious vision is to be the “world’s first chain-traveling Doge” with a cross-chain use case.
Dogeverse’s team aims to unite the meme coin community across multiple blockchain networks, including Ethereum, BNB Chain, Solana, Avalanche, Base, and Polygon.
Using advanced bridging technology, DOGEVERSE holders will be able to traverse these crypto ecosystems with minimal fees.
But there’s more to Dogeverse than just its interoperability.
The protocol will also feature a staking mechanism that allows users to earn passive rewards on their DOGEVERSE tokens.
According to the project’s staking dashboard, estimated annual yields are quoted at 117% – far higher than the industry average.
Combining its multi-chain goal with these high yields, Dogeverse’s team is clearly aiming to bring some legitimacy (and utility) to the meme coin space.
And with the presale’s momentum showing no signs of slowing down, degen traders are betting that Dogeverse can be the next viral sensation.
Other Meme Coins See Green Despite Decreasing Spot Trading Volumes
The meme coin momentum hasn’t just been limited to PEPE and DOGEVERSE on Monday.
Several other joke tokens are along for the ride as the overall crypto market looks to bounce back this week.
Shiba Inu (SHIB), one of the heavyweights of the meme coin space, has seen its price tick up 1% since yesterday.
Another gainer is cat-inspired token cat in a dogs world (MEW), which jumped over 7% to start the week.
But the biggest mover has been Popcat (POPCAT) on the Solana blockchain, which has risen a whopping 44% in the past 24 hours.
Not every meme coin has been fetching returns, though.
Dogecoin (DOGE), dogwifhat (WIF), and Bonk (BONK) are all in the red on Monday.
Despite the mixed individual token performance, the overall meme coin market cap rose slightly to over $54.6 billion.
However, spot trading volumes across all meme tokens have actually dipped 12% to $5.6 billion.
These contrasting signals suggest that there will likely be a lot of unpredictable price action in store for investors this week.
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