Meme coin projects are currently enjoying decent volatility in the crypto space. Notably, bitcoin has recorded a price decline of over 3% in 24 hours.
Transaction fees in the network spiked due to backlogs causing Binance to halt BTC withdrawals twice.
In the light of this development, most meme coins are trending in the market, projecting promising price outlooks while attracting increasing investors.
Proactive investors can lean towards these meme coins to amass huge pending holdings when the prices increase.
Although some of these projects are new, they have strong growth potential. JEFF, LAMBO, RIBBIT, SPONGE, and AiDoge are the trending meme projects this week.
JEFF is a meme coin project inspired by the fate of an average McDonald’s staff, Jeff. The token’s utility is not yet revealed but is live and flourishing.
JEFF is in a bullish market and projects more price gains following several indicators. As of May 7, 2023, JEFF’s price was at 0.05966.
However, it has increased to $0.1453 today, May 8, representing a 3.19% price increase at the time of writing.
Price Moves on Daily Chart
JEFF is trading above its 50-Day Simple Moving Average (SMA) at the time of writing, indicating a short and long-term bullish market.
Also, JEFF is above its 200-Day SMA, which strongly supports the coin at $0.09811. As such, it’s prone to fluctuate if the bears mount pressure on the coin’s price.
JEFF’s Relative Strength Index (RSI) is at 55, indicating a neutral market position for the coin.
Meanwhile, an upward movement on the RSI line represents a dramatic movement towards the overbought region above 70.
The coin’s Moving Average Convergence/Divergence (MACD) is above the signal line with a bold green bar on the histogram.
This confirms the current bullish sentiment of JEFF and projects price volatility for the coin in the nearest days.
The performance of Lambo since the beginning of May has been remarkable. As of May 2, 2023, LAMBO was at $0.00005084; today, May 8, it has reached $0.00009339.
Lambo is an exceptional crypto project aiming to manifest the dream of owning a Lamborghini sports car for its investors.
Apart from the 0% transaction tax, the project permanently locked its liquidity pool to ensure stability and security.
This proactive approach eliminates all chances of rug pulls and boosts investors’ confidence.
LAMBO trades below its 50-Day and 200-Day Simple Moving Average (SMA), a short and long-term bearish sentiment.
Since it’s a few pips away from its 200-Day SMA, LAMBO is likely to rally in the next few days.
The asset’s Relative Strength Index (RSI) is at 45.55, a neutral market indication. Nevertheless, the RSI line shows the possibility of LAMBO approaching the overbought zone (above 70).
The Moving Average Convergence/Divergence (MACD) is above the signal line.
Irrespective of its negative values, the bold green bar on the histogram hints at LAMBO’s price increase in the coming days.
Ribbit is a hopping crypto meme coin that will help users leap upwards.
It is distributed fairly and transparently and has no pre-mining event, Initial Coin Offering (ICO), or private sale.
Ribbit has a token supply of 420.69 trillion tokens, with 93.1% of its total supply sent to the liquidity pool.
Also, 6.9% is held in a multi-sig wallet for listings, pools, and other community events.
Ribbit Launched today, May 8, 2023, and is currently hosting its first meme contest. The first position receives 0.3 ETH. The second receive 0.15 ETH, and the third 0.05 ETH.
There are over 7.1 thousand RIBBIT token holders as investors’ interest increases. Despite being a meme token, Ribbit has a detailed roadmap.
Users can purchase $RIBBIT tokens with ETH using a crypto wallet and connecting to Uniswap decentralized exchange. Swapping ETH for RIBBIT has no taxes attached, making it convenient for users.
RIBBIT Price Moves On Daily Trading Chart
RIBBIT has dropped below its 50-day and 200-day Simple Moving Averages (SMA) in 15 minutes. It adapts to market volatility as more traders buy and trade the tokens.
Its Relative Strength Index (RSI) is 46.50 in the neutral zone, moving sideways and showing price neutrality.
RIBBIT’s Moving Average Convergence Divergence (MACD) is just below the signal line and shows a negative value.
Although it is a bearish signal, the indicator is moving upwards, suggesting a potential price increase for the asset. Expect more price increases for the asset if traders increase long positions.
SPONGE is the meme coin with explosive growth potential in 2023. It reached a market cap of $29 million just a few days after its launch. Also, its trading volume is $11.57 million, up by over 730% in just 24 hours.
SpongeBob SPONGE has surpassed PEPE with its listings as it gains new investors daily.
The coin is live on a Hong Kong-based exchange, LBank centralized exchange, ranked number 16 on the list of exchanges globally.
Users that deposit to trade SPONGE on the Lbank exchange are eligible to share in a $5000 bonus.
Also, SpongeBob is hosting a meme contest where 50 prizes of $100 will go to users that create the best SpongeBob memes.
Notably, CoinW and Toobit added SPONGE on their exchanges as the coin continues outperforming other renowned projects like Dogecoin and Shiba Inu.
Although PEPE realized up to 7000% gains following its launch, it retraced by 50% after the groundbreaking explosion.
Investors might now consider upcoming meme coins with steady gains in prices. $SPONGE will likely exceed PEPE’s records with 1000% gains realized in a shorter time frame.
Also, the number of listings on CEXs keeps growing with Poloniex adding it a few hours ago. These achievements will boost SpongeBob beyond the heights of other emerging meme coins.
$SPONGE Price Moves On Charts
On the 15-minute chart, $SPONGE has formed a green candle about to cross over the 50-day SMA and above the 200-day SMA, a bullish signal.
Also, its Relative Strength Index (RSI) is at 55.30, in the neutral zone and rising. It also reflects the bullish pressure on the asset.
SPONGE’s Moving Average Convergence/Divergence (MACD) is above the signal line and indicates that the bulls are in charge.
AiDoge is one of the latest AI-powered meme coins with a unique value proposition. The project aims to simplify the process of meme creation through artificial intelligence.
The team combines the two most sought-after technologies to ensure an immersive experience for users.
With AiDoge, users can simply enter a prompt and generate memes. The platform’s token, $AI, is currently in its presale stage four.
The token has recorded ground-breaking results so far as many investors rush in to optimize the opportunity.
It currently has an inflow of over $3.5 million and will soon enter stage five.
At stage 5, one $AI will be priced $0.0000276, adding a few pips from the stage four price of $0.0000272.
Notably, the price will keep climbing some pips higher in every new stage until it reaches the 20th stage.
After the last stage, $AI will list on exchanges at $0.0000336, giving early investors high investment returns.
Proactive investors are amassing millions of $AI tokens looking forward to the gains when it lists on exchanges.
Following the success of these meme coins, AiDoge also has a high chance of gaining massively on exchanges, given its utility.
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