In an unexpected twist, retail investors are flocking back to Ethereum meme coin markets, and new token Apu has exploded on DEX markets.
This article will provide an analysis of APU’s current price trends and look to see whether an innovative new meme coin, Dogeverse, represents a more promising investment opportunity at this time.
Retail capital returning to Ethereum is a notable shift in market dynamics after months of sustained Solana meme coin dominance, which can be explained largely by a significant decline in the price of ETH gas fees since the Dencun upgrade.
This has fuelled improvements in Ethereum activity, with rising interested in ERC-20 meme coins contributing to the recent uptick in volume across the leading proof-of-stake network – ending months of declining volume.
Leading the pack today is APU token, which plays on a cross-over between the much beloved Apu Nahasapeemapetilon (the owner of the Kwik-E-Mart on The Simpsons) and the cousin of Pepe the frog – Apu Apustaja.
APU Price Analysis: As New Ethereum Meme Coin Basks in Glory, Is This Other Token Next to Pump?
As APU price continues to fight for a second-rally leg, Apu token is currently trading at a market price of $0.00000001682 (representing a 24-hour change of -82%).
This comes as part of a significant retracement move, which has seen APU price take a tumble since a sell-off by early backers was triggered at the all-time high of $0.00000028.
However, in an optimistic sign, holders have posted bullish divergence above the descendant down trend, and now, with two hours of consolidation teasing the idea of $0.000000015 forming a new support level, things could be set to reverse.
Indeed, APU price action now returns to a previously established accumulation zone between $0.000000015 and $0.000000040, providing further weight to the bullish case for APU.
Meanwhile, the retracement has also seen APU’s market cap decrease to a more appetizing level at just $13k – this could provide one of the easiest 50x moves on the market today.
Yet, with price action near capitulative territory, this is also a high-risk position, especially with 119 holders still yet to make an exit.
The order book reflects this predicament, with transactions balanced at 50% buys to 50% sells in the past 6-hours.
But while APU offers a super high-risk play, market analysts are honing in on a soon-to-launch multi-chain meme coin as the next viral play.
Explore Dogeverse Ahead of Major Tier 1 CEX Listings in Q2 2024
Touted as the “chain traveling Doge,” Dogeverse has multi-chain functionality across major networks like Ethereum, BNB Chain, and Solana making it a versatile contender in the meme coin arena.
With 15% of its 200 billion supply up for grabs, early investors stand to gain significantly after the $15M raise.
The project’s structure and potential for high returns, including a staggering +582% APY return for stakers, underline its ambitious roadmap.
High APY staking has been all the rage recently, and Dogeverse is set to steal all the limelight.
Knocking down the #Memecoin competition! #Solana #Altcoins #Crypto #PEPE #Usyk #TysonFury #FuryvsUsyk #Boxing #Champion pic.twitter.com/BsgqVCmuab
— DogeVerse (@The_DogeVerse) May 20, 2024
Beyond its playful facade, Dogeverse introduces real utility, offering seamless integration across different blockchain environments – this feature not only enhances accessibility but also adds a layer of convenience for investors.
Click here to take part in the Dogeverse presale
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