The arrival of the DRC-20 token on the Dogecoin blockchain, allowing the issuance of simple tokens powered by smart-contracts directly on the Dogecoin blockchain, like the BRC-20 and LRC-20 tokens issued directly on the blockchains Bitcoin and Litecoin, fueling an increase in the number of transactions on Dogecoin.
According to IntoTheBlock, Dogecoin’s daily transaction count just hit a new all-time high of over 1.1 million.
Prior to this recent surge which started around eight days ago, Dogecoin normally saw around 20,000 transactions per day.
However, despite the surge in transactions fueled by the DRC-20 craze, this is not translating into an increase in the price of Dogecoin. Indeed, the latter recorded a decline of around 3% during the day, near $0.0725, and monthly losses of around 9%.
This means that Dogecoin is down around 30% from its 2023 ATH just above $0.10 and down around 55% from its October 2022 highs in the 2023 zone. $0.16.
Dogecoin’s continued difficulties could reflect a lack of interest in this cryptocurrency meme among investors, who are looking for better opportunities elsewhere.
With its huge market capitalization of around $10.1 billion, the opportunities for exponential gains are far better among smaller-cap, newer, and lesser-known meme cryptocurrencies.
Here are some of those cryptocurrency memes.
Copium Token (COPIUM)
After a few days of hype and an invite-only pre-sale, Copium Token (COPIUM) launched a few hours ago and got off to an explosive start.
COPIUM was recently trading just above $0.012 per token, already an 11x increase from its listing price on Uniswap and its pre-sale price, and already has over 2,000 holders.
With a total supply of 1 billion tokens, this implies a fully diluted market capitalization of approximately $11 million, and the token has already recorded a massive trading volume of over $24 million, according to DEXTools.
But among the impressive list of influencers involved in the project, as described in this article, who will help promote the cryptocurrency alongside a series of media partnerships, the price of the token could still increase considerably.
One of the strengths of COPIUM is the airdrop contest of tokens and NFTs of the project, designed to encourage holding (HODLing) for at least the next three weeks.
Another strong point is that presale participants cannot sell their assets on the market.
Only 10% of their tokens have been unlocked when listing on Uniswap, with the rest subject to gradual unlocking over the next three weeks.
The fun concept of Copium, playing on the theme of degens crypto who have to face their considerable losses, could find great success, because it is something that many players in the crypto community can relate to.
AiDoge (AI)
AiDoge, a fun AI-powered tool for generating memes while being a social media platform, could be the perfect token, as it is not only a meme cryptocurrency, but it also has a solid use case and practical utility.
AiDoge is building a platform where users can generate memes using breakthrough generative AI technology and then share them with the AiDoge community through the platform’s public wall.
The creators of the most popular memes will be rewarded with AiDoge’s native token, the $AI, which means that AiDoge brings the concept of “meme-to-earn” (M2E) to life.
AiDoge has already raised a whopping $9.3 million in the public presale of its native $AI token, and investors should act quickly while they can still secure the token at what observers consider a substantial discount from its upside potential.
Spongebob (SPONGE)
SpongeBob Token ($SPONGE) is another recently created and very successful meme cryptocurrency.
The token experienced an increase of up to 85 times its listing price on Uniswap, and even though it subsequently underwent a significant correction, it remains around 17 times higher than its listing price.
This fun meme cryptocurrency, which pays homage to SpongeBob SquarePants, may soon be listed on OKXwith the platform currently holding a contest to determine which cryptocurrency memes will be listed next.
With SPONGE likely to make the top two spots, another big listing could help boost the price again, with investors also being excited about an impending distribution of SPONGE tokens.