Dogecoin (DOGE) is facing a decrease in price, but there is hope for recovery due to an increase in non-empty wallets, indicating a rise in demand. Shiba Inu (SHIB) and Bonk Inu (BONK) are also showing signs of a comeback with network upgrades and significant price increases, putting them in the top 5 meme coins to watch.

Dogecoin (DOGE) has seen a drop in its market capitalization, with its price falling by 5% in 24 hours and 15% over the week. However, the rising number of non-empty DOGE wallets suggests a potential rally for the meme coin in May. Analysts predict a bullish run for DOGE, with some suggesting it could reach the $1 milestone in the short term.

Shiba Inu (SHIB) has experienced a price retrace recently but is set to make a comeback with the resurgence of its layer-2 scaling solution and burning program. Pepe (PEPE), a frog-themed asset, has shown growth on a two-week scale and has gained support from various cryptocurrency exchanges. Dogwifhat (WIF), the largest Solana-based meme coin, has received backing from Arthur Hayes and continues to gain popularity.

Bonk Inu (BONK) has joined the top 5 largest meme coins, flipping Floki Inu (FLOKI) and becoming the second-largest asset on the Solana blockchain. Despite an overall market correction, BONK has seen a price increase of over 50% in the last two weeks.