It has been a memecoin-led bull market in November, with Shiba Inu and Pepe among the biggest gainers as the latter doubled its price in the past week.
November has witnessed a remarkable surge in the market, primarily driven by the rise of memecoins. Notably, Shiba Inu and Pepe have emerged as the frontrunners, with the latter doubling its price within a week. With the conclusion of the US elections, Pepe has now experienced a staggering growth of over 180%, securing its position as the third-largest memecoin and inching closer to an impressive $10 billion market capitalization. However, astute investors are diverting their attention towards Yeti Ouro, captivated by its introduction of an exhilarating play-to-earn game known as Yeti Go.
Memecoins, once dismissed as mere tokens for amusement, have astonishingly outperformed other assets during this ongoing bullish rally. Spearheading this upward trend are Shiba Inu's SHIB and PEPE.
Shiba Inu, which burst onto the scene in 2020, has rapidly gained prominence. Ranked as the second-largest memecoin and occupying the 11th spot in terms of market capitalization at $14.65 billion, this coin has the potential to surpass Dogecoin (DOGE), currently residing in the top ten with a $15.9 billion market cap. Analysts attribute this optimistic outlook to the continuous technological advancements within the Shiba Inu blockchain and the developments surrounding its network. The project's team has fervently pursued utility, aiming to transcend its existing memecoin label.
Shytoshi Kusama, the lead developer of Shiba Inu, has recently emphasized the need to showcase SHIB's strength, hinting at an imminent pivotal development. As a prominent figure in the crypto market, Kusama has even urged Ethereum's Vitalik Buterin to explore potential collaborations.
PEPE has also enjoyed favoritism among investors in recent months. Despite being a frog-themed memecoin that only entered the scene in 2023, it continues to garner substantial recognition. This token reached its all-time high of $0.00002457 this week, largely fueled by its listing on Coinbase, one of the largest cryptocurrency exchanges. By virtue of being exposed to savvy investors who harbor a keen interest in leading memecoins, PEPE aspires to secure Shiba Inu's position. With a market capitalization of $9.4 billion, PEPE currently holds the 18th spot among cryptocurrencies.
Yeti Ouro has now introduced Yeti Go, a captivating play-to-earn game that seamlessly combines adrenaline-inducing gameplay with the opportunity to earn YETIO tokens.
Leveraging Unreal Engine, Yeti Go provides players with an entirely immersive experience. Participants can obliterate their opponents' vehicles using weapons acquired both on the track and within the in-game marketplace. They must also navigate past various obstacles and hurdles. Crafted by gamers for gamers, Yeti Go offers fast-paced action intertwined with skill-based gameplay, meticulously assessing strategic acumen and rapid reflexes. Beyond the thrill of engaging in competitive gameplay, Yeti Go rewards victorious players.
Yeti Ouro aims to establish utility for YETIO, thereby setting the foundation for sustainable growth. Users can procure advanced weapons, unique skins, and other customizations that enhance their gameplay by utilizing YETIO as payment. Moreover, Yeti Go encompasses a player marketplace, enabling individuals to trade items and customizations in exchange for YETIO tokens.
During the ongoing Yeti Ouro presale, investors have already acquired over 22 million tokens, representing 22% of the designated token supply. Subsequent presale stages will offer a total of five hundred million tokens, equivalent to half of the total supply of one billion tokens. A token-burning mechanism has been implemented, with 5% of the supply allocated to this purpose.