Memecoin Prices Explode as Dogecoin, Shiba Inu Lead, and Flockerz ICO Approaches $1.5M

The Memecoin market has had a positive start to the week.

Both Dogecoin (DOGE) and Shiba Inu (SHIB) have made double-digit gains in the past 24 hours.

Meanwhile, new memecoin Flockerz (FLOCK) is gaining traction in its ICO and approaching the $1.5 million funding milestone.

DOGE & SHIB lead memecoin rally with double-digit gains

Dogecoin is up 25% to $0.283 – a price traders haven’t seen since October 2021.

Trading activity around DOGE is increasing, with $18.1 billion worth of the coin changing hands over the past 24 hours.

This makes DOGE the fourth most traded cryptocurrency in the world.

Shiba Inu has also gained some upside, jumping 11% to reach $0.0000251, although it has cooled slightly from Sunday’s rise.

Traders clearly believe there is more action ahead, with SHIB derivatives open interest rising 10% to $42 million.

However, it’s not just the top two memecoins that win.

In the past 24 hours, almost all joke coins have been in the green, pushing the sector’s overall market cap over 88 billion dollars.

There has also been a 149% increase in spot trading activity.

The only real outlier is First Neiro on Ethereum (NEIRO), which has had a 15% loss.

Bitcoin’s new all-time high is fueling broader optimism in the crypto market

Dogecoin and Shiba Inu’s increases are not happening in isolation.

They are part of a broader crypto market rally that has sent Bitcoin to a new record high of $81,858.

The OG cryptocurrency is up 7% since Saturday’s plunge, pulling the entire market along.

Trader sentiment continues to improve, with Crypto Fear and Greed Index got 78 out of 100 yesterday.

That’s the highest reading since April.

The index is firmly in “Extreme Greed” territory, and retail investors are starting to take notice.

Google searches for “Bitcoin” are on the rise, although they are still not where they were during 2021’s bull run.

Some big names are also talking enthusiastically about the future.

Crypto Rover, founder of CryptoSea, believes that Bitcoin will hit $100,000 “52 to 58 days” after the election.

He also notes that all resistance over Bitcoin is now gone.

Influencer Doctor Profit too means BTC will reach $100,000 “by the end of the year.”

These two predictions highlight the level of market optimism – helping meme coins like DOGE and SHIB.

Flockerz ICO approaches 1.5 million. USD as Vote-to-Earn model and investment returns attract investors

Flockerz also benefit from the positivity.

Billing itself as the “People’s Meme Coin,” Flockerz’s ICO is nearing the $1.5 million milestone.

It reinvents the typical meme coin model by offering a Vote-to-Earn mechanism through the Flocktopia DAO.

This mechanism allows community members to earn FLOCK tokens to participate in governance decisions.

The more active they are, the more FLOCK they earn.

Community members can then stake these FLOCK tokens in Flockerz’s staking app to generate estimated APYs of 1.207%.

This number will decrease as more tokens are staked – but investors have already locked up over 149 million FLOCK while the ICO is underway.

During the ICO, investors can purchase tokens for $0.005981 each.

According to Flockerz’s white paper20% of the total FLOCK supply is set aside for ICO buyers.

An additional 10% will be used for exchange liquidity.

Supports all of Flockerz’s features are two revisions, from Coinsult and SolidProofwho found no problems with the project’s smart contracts.

This focus on security, combined with the unique reward mechanism, has gone down well with the community.

Flockerz’s Twitter and Telegram channels have seen significant growth recently.

It’s a memecoin that many are watching as the broader market sees an increase in momentum.