Meme Coins Are on A Roll After Musk Twitter Acquisition - Buy DOGE and SHIB Now?

Meme Coins Are on A Roll After Musk Twitter Acquisition – Buy DOGE and SHIB Now?

Updated: 02 November 2022

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Meme coins have been trading in the green zone over the past week. Dogecoin has been leading the rally with gains of over 120% in the last seven days. Shiba Inu is also up by more than 20% over the past week. Meme coins are gaining amid Elon Musk’s Twitter acquisition.

Meme coins surge after Elon Musk’s Twitter acquisition

Dogecoin has continued to trade in the green zone after a massive uptrend that delivered significant gains last week. The gains have increased the meme coin’s market capitalization, which now stands at over $19 billion, ranking DOGE as the eighth largest cryptocurrency. At the time of writing, DOGE was trading at $0.14.

Shiba Inu has also benefited from the meme coin rally, which is up by double-digits over the past week. However, the meme coin shows signs of retracing after dropping 1.4% in the last 24 hours. At the time of writing, SHIB was trading at $0.0000126.

Other DOGE-themed low cap cryptos, such as Dogelon Mars and Floki Inu, have also pumped. ELON is up 12.8% in the past to trade at $0.000000502 at the time of writing, while FLOKI has dipped 0.6% to trade at $0.00001212 at the time of writing.

Meme coins are up as expectations build up on the possibility of Elon Musk adding DOGE payments on Twitter. Musk has announced that Twitter users will pay $8 to be verified, and DOGE could be among the accepted currencies.

This meme coin could rally 10x

Tamadoge (TAMA), one of the newest meme coins, can potentially make major gains today. At the time of writing, TAMA was trading at $0.0308 after an 8.8% dip in 24 hours. TAMA is cooling off after a significant rally that has seen the coin gain 28% in one week.

Tamadoge is one of the best utility tokens because it powers the Tamaverse. Tamaverse is a metaverse gaming world where players can breed, mint, nurture and use their Tamadoge pets to battle with other players to receive rewards in TAMA.

The utility offered by this meme coin could see it making significant gains in the short and long term.

Altcoins to consider buying

If you are considering investing in meme coins, you could also diversify your portfolio with the three top presales happening today.

The Dash 2 Trade presale has already raised more than $4 million. Dash 2 Trade provides crypto investors with trading signals to aid decision-making. The platform combines the best tools and features to help traders understand the market.

The IMPT presale is also seeing high demand. The presale has raised more than $11.91 million, and IMPT is attracting much interest from ESG investors as a green crypto. The IMPT.io platform aims to assist individuals and companies lower their carbon footprint.

The other presale to consider investing in is for Calvaria (RIA). Calvaria is a play-to-earn game that will be accessible to all, as making payments in cryptocurrencies will not be mandatory. The RIA presale has raised more than 1.1 million USDT.

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