We are not sure of the exact date the Bitcoin (BTC) halving event will be but all indications point to it being mid-April. That means we are likely just a couple of weeks away from crypto's biggest event in 2024. Historically, the whole market fairs well just before and after the halving event so it's the perfect time for investors to try to make a large profit.
When Bitcoin starts to pump it is normal for something called profit-taking to occur. This can stunt the growth of BTC but it is great for altcoins. It is when investors make some profit from Bitcoin's soaring price so they sell some of their BTC and invest in some altcoins. We think meme coins will be the benefactors of the next BTC pump. Pepe Coin (PEPE), Floki Coin (FLOKI), and Shiba Inu (SHIB) are all prime candidates.
We will get into these established coins later. First, we want to look at some presale tokens that may actually be better investment options. These are new meme coins that are poised to pump once their listings begin so getting in on the ground floor could be the first step to becoming a meme coin millionaire. Here are the three tokens that fit that description:
Dogecoin20 (DOGE20)
Slothana (SLOTH)
SpongeV2 ($SPONGE)
Before we get into the more established meme coins that readers will already be familiar with, let's take a deeper look at these new tokens and why they have so much potential to explode as we approach the next Bitcoin halving.
Dogecoin20 (DOGE20) has taken the market by storm and although the project listings have not even begun people are starting to wonder if this is the coin to finally dethrone Dogecoin (DOGE) at the top of the meme coin ladder. Although it is early days, we are very much on the side of DOgecoin20 and there are plenty of factors that back up that take.
First of all, and maybe the biggest indicator is the presale. Dogecoin20 was not launched with no publicity at all but neither was it a very hyped presale. This very quickly changed though as suddenly whales buying up a lot of DOGE20 triggered a stampede and the project reached its hard cap of $10 million in less than two weeks.
The other factors have a mix to do with Dogecoin20 being an innovative project and the original Dogecoin not being the force it once was. The last year has seen incredible growth for the meme coin market yet its biggest coin has only increased its value by around 80%. Even Shiba Inu (SHIB) which is also struggling has almost doubled that return and other rivals have pumped by thousands of percent.
This means that Dogecoin20's launch may have come at the perfect time. What is very interesting is that Dogecoin20 has decided their listings will begin on the 20th of April. This is no coincidence as it is DOGE day, a day traditionally where Dogecoin performs very well. That wasn't the case last year and it's clear Doegcoin20 thinks they can steal the limelight from the old dog.
They have made the gamble that in today's market a proof-of-stake system is superior to Dogecoin's proof-of-work. Readers will know the amount of criticism that Bitcoin comes under for its proof of work process from environmental groups. What they may not be as familiar with is Dogecoin uses the same system and also uses copious amounts of energy.
In fact, Dogecoin uses the same amount of electricity in a year as the entire country of Malta. Bitcoin has already seen some attempted interference in America from the government so it would be naive to think the proof-of-work process is not going to be further mired in the controversy down the line.
The other main selling point of proof-of-stake is, of course, staking. A very noticeable trend in recent times is new altcoin projects having staking as a key part of their ecosystem. This used to be unheard of in meme coins but now it is helping ease the normal volatility of these tokens. The last of some very strong advantages the new dog Dogecoin20 has over Dogecoin.
Solana has been on a major run lately that has corresponded with it becoming the most popular network for nearly half of the participants in a recent survey undertaken by CoinGecko. A lot of this has to do with meme coin's popularity coupled with the fact that a lot of new projects released on the Solana network seem to be destined for instant success.
The latest on that path is Slothana (SLOTH). A sloth-based meme, this character is fed up with his 9-5 and just wants to pump for its investors. We cannot claim to know everything that meme coin investors love but we are sure this fits the category. SLOTH has also promised to 'quit the herb' but we think investors don't mind his habits as long as his coin pumps.
Presales are always great indicators of how a coin will do and Slothana has been like a house of fire. The meme coin is still barely a couple of weeks old but is already surpassing the $8 million raised mark. Meme coins that choose the presale route are normally very confident in their token and so far it looks like the creators made a great choice.
Another reason investors should be high on this sloth meme coin is because of the success of another Solana meme coin that went before it. Slerf Token (SLERF) has been one of the recent stars of the Solana network after it pumped massively in mid-March to provide a great return for its investors.
With respect to Slerf, which has now started to fall off, Slothana looks like it is going to equal its performance and then some. For those interested in purchasing SLOTH they just need to follow the link below to the presale and send SOL to the dedicated wallet address on the site.
2023 was an amazing year for meme coins. It was a rollercoaster of a year. Before the start of May, many thought the sector may be done. Successful meme coins were struggling and no new meme coin could get off the floor. Then, out of the blue, Pepe Coin (PEPE) happened. It pumped and made investors millionaires out of nowhere. However good PEPE was, Sponge Token ($SPONGE) was just as important.
That brings us to Sponge v2 ($SPONGEV2), the second iteration of the widely successful Sponge Token. The makers of the coin have found a very innovative way for both coins to survive in an ecosystem. The meme coin market explosion has led to more competition which in turn leads to innovation. The stake-to-bridge system Sponge V2 employs is a perfect example of this.
Potential investors who wish to get involved in the new project must first purchase and stake $SPONGE. When they do so an equivalent amount of $SPONGEV2 will also be purchased and stored away. Once the total allocation of version one Sponge Token has been sold out then investors will be able to claim their version two tokens along with the rewards.
For those who need a refresher, Sponge Token was quite intricate to the meme coin success in 2023. After the Pepe Coin pump the market turned bearish and once again people were averse to the sector. Despite this Sponge Token pumped by hundreds of percent and gained a cult following. It is partially responsible for the revival of the sector. Watch Sponge V2 build on this success.
One of the more interesting movements happening in the meme coin market is the new projects vs the old. The speed of the market means Pepe Coin (PEPE), Floki Coin (FLOKI), and Shina Inu (SHIB) would all be considered established tokens.
These three tokens have had their glory days and in their time have all pumped to make investors rich. The problem is the market has changed and investors are craving innovation. Because of their online communities, these tokens may still hold onto some relevance but when compared to the other coins we have reviewed they are not as good investment options.
The meme coin market has never been healthier. This is mostly good news but it also challenges investors to find the best projects. While older meme coins may seem like good options, Dogecoin20, Slothana, and Sponge v2 are part of a new generation that all around, represent better options for investors.
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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.