Shiba

Dogecoin

Pepe

Shiba Inu

Since April 2024, the DOGE price has been on a consistent decline, dropping from $2.3 to $1.1.— a 54.2% decrease. As the asset has not yet indicated a bottom for correction, Dogecoin rivals like Shiba Inu (SHIB), Floki, Pepe coin (PEPE), Dogwifhat (WIF), and BONK are poised to capitalize on this weakness, potentially sparking bullish reversals and directional rallies. 
<h2 id="span-style-font-weight-400-dogecoin-rivals-shiba-inu-shib-span">Dogecoin Rivals- Shiba Inu (SHIB)</h2> 
Shiba Inu (SHIB), often called Dogecoin killer, is currently trading at $0.000014, boosting a market cap of $8.39 Billion. Amid market uncertainty, the <a href="https://coingape.com/price/shiba-inu/">SHIB price</a> jumped from $0.000013 to $0.0000143, registering a growth of 10%. 
The recent surge can be attributed to the U.S.-based <a href="https://coingape.com/crypto-exchanges/">crypto exchange</a> Kraken expanding its support to Shiba Inu and three other altcoins by adding a new margin trading pair against the Euro. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4e3.png" alt="📣" class="wp-smiley" style="height: 1em; max-height: 1em;"> New EUR margin pairs available for: 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="nofollow" href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="nofollow" href="https://twitter.com/search?q=%24NEAR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEAR</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="nofollow" href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SEI</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> 
 Gain exposure to these tokens and 120+ margin pairs on Kraken 
 *Geographic restrictions may apply 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> Trade now <a rel="nofollow" href="https://t.co/pb84SllQIO">https://t.co/pb84SllQIO</a> <a rel="nofollow" href="https://t.co/fK3dPFgivY">pic.twitter.com/fK3dPFgivY</a> 
 — Kraken Pro (@krakenpro) <a rel="nofollow" href="https://twitter.com/krakenpro/status/1825881870237573603?ref_src=twsrc%5Etfw">August 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Moreover, Santiment analytics highlights that SHIB’s supply distribution from addresses holding between 100,000 and 1,000,000 tokens has seen a massive surge since March 2024. The metric recently 238.94k SHIB indicates the retail investors are active accumulation at asset. 
<figure id="attachment_213806" aria-describedby="caption-attachment-213806" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-213806 size-full" src="https://coingape.com/wp-content/uploads/2024/08/SHIBA-INU-SHIB-19.26.29-23-Aug-2024-e1724421891520.png" alt="Shiba Inu" width="1200" height="406">
 <figcaption id="caption-attachment-213806" class="wp-caption-text">
 SHIB supply distribution | Santiment
 </figcaption>
</figure> 
With sustained buying, the <a href="https://coingape.com/price-predictions/shiba-inu-shib-price-prediction/">Shiba Inu price prediction</a> hints at a potential rally past the $0.00002 psychological level, followed by $0.00003. 
<h2 id="span-style-font-weight-400-pepe-coin-pepe-span">Pepe Coin (PEPE)</h2> 
The Flag-themed meme coin Pepe recently showcased a notable bounce from $0.000006 to $0.0000008, registering a 17.6% bounce. This upswing shows a new bull cycle within the falling wedge reversal pattern, indicating a potential breakout ahead. 
Moreover, the 30-day MVRV (Market Value to Realized Value) ratio at -3.15% indicates that short trades are witnessing loss, as per Santiment data. Typically, this metric may indicate reduced selling pressure and pave the way for investment for accumulation from the largest player. 
<figure id="attachment_213807" aria-describedby="caption-attachment-213807" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-213807 size-full" src="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-32-07.png" alt="Dogecoin Rivals- Pepe Coin" width="1456" height="533" srcset="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-32-07.png 1456w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-32-07-300x110.png 300w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-32-07-1224x448.png 1224w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-32-07-768x281.png 768w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-32-07-150x55.png 150w" sizes="(max-width: 1456px) 100vw, 1456px">
 <figcaption id="caption-attachment-213807" class="wp-caption-text">
 30-day MVRV Ratio | Santiment
 </figcaption>
</figure> 
Therefore, the <a href="https://coingape.com/price/pepe-coin/">PEPE price</a> breakout from wedge pattern resistance at $0.000009 will accelerate the buying momentum and drive a rally to $0.0000172. 
<h2 id="span-style-font-weight-400-floki-floki-span">Floki (FLOKI)</h2> 
Among the Dogecoin Rivals, the Floki coin could again gain notable traction amid the English Premier League (EPL) in the coming months. The FLOKI token and its play-to-earn Valhalla game will <a href="https://coingape.com/markets/will-floki-price-0-0002-premier-league-partnerships/">gain prominent exposure</a> across multiple English Premier League (EPL) platforms as part of a new one-year deal. 
The Floki token has partnered with Nottingham Forest, while their Valhalla game is featured on the back of Sunderland AFC jerseys. With this move, FLOKI will gain worldwide visibility among millions of football fans, which may attract new investors for the token and the Valhalla game. 
The <a href="https://coingape.com/price/floki-inu/">Floki price</a> rose from $0.00011 to $0.000138 within a week, registering a 23.3% growth. This upswing bolstered buyers to escape an 11-week correction and chase potential targets of $0.00021 and $0.00035. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/s/SRE0X0Gl.png" alt="Floki price" width="1946" height="893">
 <figcaption class="wp-caption-text">
 FLOKI/USDT – 1d Chart
 </figcaption>
</figure> 
<h2 id="span-style-font-weight-400-dogwifhat-wif-span">Dogwifhat (WIF)</h2> 
The Solana-based Meme coin Dogwifhat shows bounced from $1.361 to $1.63, registering a growth of 20%. This recovery positioned near the apex of the falling wedge pattern signals the downtrend reaching maturity.&nbsp; 
In addition, the WIF’s future open interest signals a notable surge of $213.5 million, according to <a rel="nofollow" href="https://www.coinglass.com/">Coinglass</a> data. This increase in OI metric implies heightened market activity and growing investor interest in WIF futures. 
<figure id="attachment_213812" aria-describedby="caption-attachment-213812" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-213812 size-full" src="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-40-55.png" alt="Dogecoin Rivals - Dogwifhat " width="1531" height="434" srcset="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-40-55.png 1531w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-40-55-300x85.png 300w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-40-55-1224x347.png 1224w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-40-55-768x218.png 768w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-40-55-150x43.png 150w" sizes="(max-width: 1531px) 100vw, 1531px">
 <figcaption id="caption-attachment-213812" class="wp-caption-text">
 WIF Futures Open Interest | Coinglass
 </figcaption>
</figure> 
Among the Dogecoin Rivals, the Dogwifhat price is poised at 22% before the major breakout from the downsloping trendline at $2. A successful breach will surpass the $2.85, followed by $4. 
<h2 id="span-style-font-weight-400-bonk-bonk-span">Bonk(BONK)</h2> 
Unlike other Dogecoin rivals, BONK coin shows a broader bullish trend, supported by the formation of a channel pattern. The two rising trendlines, dynamic support, and resistance, assist buyers in preventing major corrections. 
A recent reversal from bottom support has uplifted the <a href="https://coingape.com/price/bonk/">BONK price</a> from $0.000017 to $0.000019, accounting for 11.4% growth. As the recovery trend continued, BONK’s OI-weighted funding rate surged to 0.066%. This increase suggests that long positions are gaining momentum, with traders willing to pay a premium to maintain their positions. 
<figure id="attachment_213811" aria-describedby="caption-attachment-213811" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="wp-image-213811 size-full" src="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-39-46.png" alt="BONK OI-Weighted Funding Rate" width="1533" height="430" srcset="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-39-46.png 1533w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-39-46-300x84.png 300w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-39-46-1224x343.png 1224w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-39-46-768x215.png 768w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-23_19-39-46-150x42.png 150w" sizes="(max-width: 1533px) 100vw, 1533px">
 <figcaption id="caption-attachment-213811" class="wp-caption-text">
 BONK OI-Weighted Funding Rate | Coinglass
 </figcaption>
</figure> 
If the bullish momentum persists, the post-breakout rally could drive the BONK price to $0.000034, followed by $0.0000445. 
Conclusion 
The meme cryptocurrency sector is known for its volatility due to its susceptibility to speculative trading. The potential investors of this asset class often look for fast movement and quick gain. As DOGE showcases a prolonged correction and stable price action, the emerging Dogecoin rivals, such as Shiba Inu (SHIB), Floki, Pepe coin (PEPE), Dogwifhat (WIF), and BONK can offer suitable opportunities to capture aggressive rallies. 
The post <a href="https://coingape.com/markets/5-dogecoin-rivals-that-could-10x-by-q4/">3 Dogecoin Rivals Set to Dominate Market Rally with 10X Potential</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

3 Dogecoin Rivals Set to Dominate Market Rally with 10X Potential

Table of Contents

Coingape News Media

Other articles published on Aug 23, 2024

Former Binance CEO Moves To Halfway House In California

Blackrock’s ‘ETHA’ Stays Neutral; ETH ETF Sees 6th Outflow Day!

Ethereum Foundation Moves $94.07M ETH To Kraken, What’s Next?

Gate Ventures and Abu Dhabi Blockchain Center Launch $100M Web3 Fund

Crypto Biz: Consolidation ramps up among crypto firms

Donald Trump Announces New Crypto Project "The DeFiant Ones," Aims to Serve Unbanked Communities

Join our free newsletter for daily crypto updates!