Memecoin prices are exploding as Dogecoin, Shiba Inu take the lead and Flockerz ICO approaches $1.5 million

The Memecoin market had a positive start to the week.

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

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

DOGE and SHIB lead the memecoin rally with double-digit gains

Dogecoin is up 25% to $0.283 – a price traders have not seen since October 2021.

Trading activity around DOGE is increasing, with $18.1 billion worth of coins changing hands in the last 24 hours.

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

Shiba Inu also trended higher, rising 11% to $0.0000251, although the price has cooled slightly since Sunday’s rise.

Traders clearly believe there is more work to be done, as open interest in SHIB derivatives rose 10% to $42 million.

However, it’s not just the top two memecoins that are seeing gains.

Over the past day, almost all joke coins were in the green, pushing the sector’s total market cap to over $88 billion.

There was also a 149% increase in spot trading activity.

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

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

The rise of Dogecoin and Shiba Inu is not happening in isolation.

They are part of a broader crypto market recovery that has catapulted Bitcoin to a new all-time high of $81,858.

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

Trader sentiment continues to improve, with the Crypto Fear & Greed Index reaching 78 out of 100 yesterday.

This is the highest value since April.

The index is firmly in “extreme greed” territory and retail investors are starting to take notice.

Google searches for “Bitcoin” are increasing, although they are still not where they were during the 2021 bull market.

Some big names are also looking forward to the future.

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

He also points out that the resistance above Bitcoin has now disappeared.

Influencer Doctor Profit also expects BTC to reach $100,000 “by the end of the year.”

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

Flockerz’s ICO is nearing $1.5 million as its vote-to-earn model and staking returns attract investors

Flockerz also benefits from the positive mood.

Dubbing itself 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 via the Flocktopia DAO.

This mechanism allows community members to earn FLOCK tokens for participating 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 an estimated APY of 1,207%.

This number will decrease as more tokens are deployed – but investors have already locked over 149 million FLOCK during the ongoing ICO.

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

According to the Flockerz white paper, 20% of the total FLOCK supply is reserved for ICO buyers.

Another 10% is used for stock market liquidity.

All of Flockerz’s features are backed by two audits from Coinsult and SolidProof, which found no issues with the project’s smart contracts.

This focus on security, combined with the unique reward mechanism, is well received by the community.

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

It’s a memecoin that many are keeping an eye on as the broader market sees a surge in momentum.