While many cryptos are selling off today, Mog Coin continues to show strength with a 10% uptick. Meanwhile, the new Play-to-Earn (P2E) meme coin PlayDoge is another top performer. Its presale is quickly approaching the $6 million total raised mark.
Undeterred by the market-wide selloff, numerous Ethereum-based meme coins have charged ahead today.
Mog Coin is leading the way with a 10% pump, but others like Book of Meme and Turbo have also booked gains.
The exact reason for this phenomenon is not clear, but it would seem traders are increasingly optimistic about ETH’s upcoming price trajectory and are getting in early on its ecosystem meme coins.
Typically, if the native layer 1 coin performs well, its ecosystem tokens can outperform thanks to their lower market caps.
The launch of Ethereum ETFs last week and BlackRock’s recent nod to adding the ETF to its $4.2 trillion “model portfolio” are a massive boon for its long-term outlook.
With that, ecosystem plays like Mog Coin could see liquidity flooding in over the next few months.
Currently, Mog Coin is trading at $0.000002032, up 10% today, at breakeven this week, and up 13% this month.
It holds a $733 million market cap and a $46 million 24-hour trading volume.
Analysts are singing its praises.
In a recent commentary on X, Pink Beluga highlighted that Mog Coin will “outperform everything.”
The analyst highlighted two key reasons for this: Mog Coin is the “leader of culture coins” and the unprecedented liquidity inflows to the Ethereum ecosystem.
Analysts are also bullish from a technical standpoint.
Rodolfo recently hailed Mog Coin as having “one of the best charts around.”
As seen below, Mog Coin has enjoyed a steady upward grind through 2024, even when other meme coins have struggled.
Indeed, its technical and fundamentals align for continued success, but it’s not the only meme coin to be bullish on.
Riding the tailwind from Mog Coin and other large caps, the newly launched PlayDoge has emerged as one of the strongest low-cap contenders.
Mog Coin is up 7,800% this year, but there’s still time to catch PlayDoge in its early stages.
The project is currently undergoing a presale, enabling investors to buy in at a floor price.
PlayDoge is a new P2E meme coin inspired by the hit 1990s Tamagotchi game.
Think of it akin to Floki, which also has a successful P2E game.
PlayDoge will launch on the App Store and Google Play Store, and the game will feel like the original copy.
However, the big difference is that users will generate rewards with PlayDoge.
For those who don’t remember, Tamagotchi is a handheld gaming device where users would care for a pet, ensuring it is fed, rested, and happy.
In addition to P2E rewards, PlayDoge enables users to earn crypto by staking their tokens.
It’s a concept drawing attention among value-seeking investors, P2E enthusiasts, and nostalgic gamers.
The Cryptonews YouTube channel says PlayDoge could do 100x and even speculates that it “could make you a millionaire.”
The current PlayDoge presale price is $0.00524.
However, this will rise throughout the campaign, with the next increase in two days.
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