The famous meme coin Shiba Inu (SHIB) has seen a decline in its price recently as many investors decided to cash in their profits. If today closes in the red, it would mark SHIB's fifth consecutive day of losses, resulting in a weekly decline of about 28%.
In the last 24 hours alone, SHIB dropped by approximately 10%, reaching $0.00002466. This decline can be traced back to Shiba Inu's rapid rise at the beginning of March.
Because it shot up so quickly, there wasn't enough time for the cryptocurrency to establish solid support at its current trading levels.
Does this imply that Shiba Inu's run is over and that we should seek out an alternative?
Analysts are pointing towards tokens such as Dogecoin20 ($DOGE20), Smog ($SMOG), and Sponge V2 ($SPONGE) as potential contenders for this role.
Let's take a closer look at the details.
Here is a quick outline of the top crypto picks we'll be exploring:
Dogecoin20 ($DOGE20) – Inspired by DOGE but Introducing New Features and Capabilities To Outperform It
Smog ($SMOG) – New Meme Coin That's Bringing Fresh Innovations to Solana's Platform and a Major Airdrop
Sponge V2 ($SPONGE) – Upgrading the Original Token with Advanced Features and Over 100x Growth Potential
MemeAI ($MEMEAI) – Trending Meme Coin That Hits 500% ROI in Past Two Weeks
ApeCoin ($APE) – The Native Token of the Famous BAYC NFT Project
Now, let's take a closer look at each of these tokens and see what they offer.
Dogecoin20 ($DOGE20) is making waves as the latest meme coin sensation, following in the footsteps of predecessors like Dogecoin and Shiba Inu. It's an ERC-20 token built on the Ethereum network, distinguishing itself by adopting a greener approach through proof-of-stake mechanisms.
Unlike older meme coins relying on energy-intensive mining, Dogecoin20 is environmentally conscious. Its proof-of-stake system ensures transactions with a lighter carbon footprint.
One of the key highlights of Dogecoin20 is its staking feature, which allows buyers to earn passive rewards by staking their $DOGE20 tokens. These rewards are distributed over a two-year period, offering early adopters significant benefits. In fact, a whopping 15% of the total supply is set aside for rewards in the first year alone.
As of now, presale investors are reaping the benefits of staking rewards at an impressive rate of 280%. This rewarding system is attracting attention and driving excitement among crypto investors looking for profitable opportunities.
Smog ($SMOG) is gaining momentum as a new multi-chain meme coin. This fresh cryptocurrency just went through its fair launch, launching directly on the Jupiter DEX on Solana.
Since Smog operates on multiple chains, you have the flexibility to purchase $SMOG using ETH or USDT right on the Smog website. Plus, you can stake it and earn a 42% APY.
After its launch, Smog kicked off with a $2 million market cap and quickly skyrocketed to over $28 million within the first 24 hours—that's a sharp rise of more than 1,300%. And the momentum didn't stop there. In just a week, it increased by over 5,200%.
Smog is offering airdrop giveaways as part of its strategy to become the leading token on the Solana blockchain. To support this goal, 50% of its 1.4 billion supply is allocated for marketing campaigns. Already attracting holders, it plans to distribute 490 million tokens.
$SMOG holders can earn airdrop points and receive rewards by holding the token. Additionally, 140 million tokens are reserved for future centralized exchange listings.
With all these moves, $SMOG is aiming to make waves in the crypto space. Keep an eye on this one – it might just be the next big thing.
SPONGE V2 ($SPONGE) represents an upgraded version of the original $SPONGE meme coin, aiming to deliver improved features and potential. It's a significant step forward, especially considering the impressive 100x surge the original token experienced, reaching a peak market cap of $100 million.
The $SPONGE V2 sale brings several enticing opportunities for investors. According to the $SPONGE whitepaper, obtaining V2 tokens involves bridging from existing V1 tokens.
Those who choose to stake and lock their V1 tokens permanently stand to gain four years of staking rewards in $SPONGE V2, offering a significant reward for those who get in early.
Moreover, for a limited time, $SPONGE is offering a compelling 100% purchase bonus in V2 tokens. In simpler terms, if an investor invests $100 in $SPONGE, they'll secure $100 in V1 tokens for staking and receive an additional $100 in V2 tokens immediately.
The Sponge V2 Token Sale presents an attractive opportunity for investors seeking potential rewards through this upgraded version. With clear incentives and promising prospects, it's a chance for investors to make informed decisions and benefit from the dynamic cryptocurrency environment.
In the domain of meme coins, one standout example is MemeAI ($MEMEAI), which has seen a remarkable jump of over 800% in the past month.
$MEMEAI sets itself apart by using artificial intelligence to generate and create memes as non-fungible tokens (NFTs). These NFTs will soon be tradable on the token's upcoming marketplace, providing creators with a new way to monetize their creations.
The project's growing online presence is a significant factor contributing to its popularity. As Nvidia prepares for its Game Developer Conference in March, the hype surrounding AI tokens like this one is expected to grow further.
ApeCoin ($APE) is built to offer its holders a voice within the ApeCoin DAO, playing a crucial role in the project's ecosystem. Meanwhile, Yuga Labs is in the process of developing Otherside, a virtual world where ApeCoin could potentially serve as the primary currency once it's operational.
Interest in ApeCoin increased when Yuga Labs previewed Otherside last summer, leading to a significant 22% price jump. However, the price has since experienced a decline and is currently trading around $2.11, marking a significant 53% drop from last year.
Despite the recent price dip, some investors perceive it as an opportune moment to consider investing in $APE before it recovers in the upcoming bull run.
In the middle of the current bull run, investors are looking for the next promising coins that could see significant growth in the coming weeks.
Industry experts and crypto influencers have identified a few tokens with the potential for significant profits, including Dogecoin20 ($DOGE20), Smog ($SMOG), and Sponge V2 ($SPONGE).
These tokens have attracted the interest of crypto analysts because of their innovative technology, which could bring significant changes in the market.
The best part is that you still have the chance to invest in them at relatively affordable prices before they take off!
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.