Bitcoin's Surge Has Had a Ripple Effect on the Market

Bitcoin’s surge has had a ripple effect on the market, leading to most meme coins going up in value drastically. Even Dogecoin, the top meme coin by market capitalization

Bitcoin’s recent surge has had a ripple effect on the market, leading to most meme coins going up in value drastically. Even Dogecoin, the top meme coin by market capitalization that hadn’t seen much growth in the last few years, went up by double digits.

However, other, more recent meme coins that have made their way to the top of the charts are outperforming it. And while talk of a Dogecoin ETF and more utility is buzzing around the world’s top meme coin, more value lies in assets that hold true to their memetic roots and still provide bigger perks.

So, is Dogecoin dead? And even if that’s not the case, which could be the best meme coins to invest in now?

Dogecoin’s Price Action – Sudden Surge Followed by Steep Correction

“Sudden surge followed by steep correction” is a string of words normally associated with most meme coins, but it holds even more true for Dogecoin. Favoured by the likes of Elon Musk, who even helped create a government department using DOGE as a backronym — Department of Governmental Efficiency — Dogecoin hasn’t been the most lucrative meme coin as of late.

Technicals disagree, however, as the meme coin has broken out of its descending pattern, crossing the above trendline recently. This breakout, however, may not last, as there is still much resistance it has to cross.

The first immediate resistance is around the $0.20 level, followed by $0.24, $0.28, and then $0.34. A further move to the upside would require major activity within the ecosystem, which may not happen anytime soon.

By contrast, other meme coins such as Dogwifhat have moved up more drastically. Official Trump, too, was able to make a lot of gains thanks to the recent market activity and Donald Trump organizing a presidential dinner for the top holders.Pepe was also able to follow suit, growing upwards of 30% in the last 7 days, and Brett’s price action has been nothing short of amazing, experiencing a 92% increase since last week.

Therefore, the best meme coins to invest in now are a combination of trending meme coins that have stayed true to their roots and are still providing more memes to their audience.

Best Meme Coins to Invest in Now Other than Dogecoin

Since Dogecoin’s growth may not be parabolic any longer, investors should focus their attention on assets still prone to massive surges and providing utility that could deliver value in the long term.

Dogwifhat

While Dogwifhat carries the same themes as Dogecoin, the memetic style is so minimalistic that the community itself creates a story around it. And that has been this meme coin’s superpower, making it one of the best meme coins to invest in now.

Trading around the $0.67 level at the time of writing, Dogwifhat has recently broken out of its descending pattern as well. However, its green candles are larger, and the recent upswing could help it move further upside in the coming days.

For now, the focus is for Dogwifhat to cross the $1.59 resistance level (0.786 fibs), beyond which it would retest $2.7 ($0.5 fibs). Given the current bearish conditions, it is also possible for this minimalistic dog-themed token to move up by 360% to retest its all-time high achieved in November of 2024.

Why is Dogwifhat growing? The simple answer is broader macroeconomic conditions pushing the world towards crypto. Another reason is the Solana themes. Solana is gaining favour among developers, especially since the recent L1 updates, which is pushing more Solana-based meme coins to the forefront.

Solaxy

Whales looking for an alternative to Dogecoin but still seeking Solana’s themes are focusing on another top crypto known as Solaxy. Built as the world’s first L2 coin for Solana, Solaxy is slowly becoming one of the biggest meme coin presales to date, raising close to $32 million at the time of writing.

The primary goal of this meme coin project is to deal with Solana’s congestion issues and provide users something better to invest in. With its L2 solution, Solaxy promises lightning-fast transactions, as well as zero downtime and high scalability.

Developers have already unveiled the testnet block explorer for the project, highlighting that Solaxy isn’t just another meme coin claiming to provide utility, but one with the tech development to back it up.

It has integrated tools like ZK rollups to relieve Solana of congestion issues, Celestia for data availability, and Hyperlane for a multi-chain bridge to make Solana’s ecosystem more robust and interoperable.

Despite these many use cases, Solaxy hasn’t lost its memetic touch, not afraid to highlight the comedic appeal that it has.

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