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The cryptocurrency market is excitedly buzzing over a new petition to create a Grayscale ETF for Shiba Inu, a popular meme coin. This development has sparked curiosity among investors about whether other meme coins, particularly those based on the Solana blockchain, can follow a similar path. Top meme coins like Pepe (PEPE), dogwifhat (WIF), and Bonk (BONK) alongside new market entrant, Angry Pepe Fork (APORK) are now in the spotlight as enthusiasts wonder if they can also attract significant interest and replicate Shiba Inu's success.
While the market is flooded with meme coins, here are four of the best you want to experience in 2024.
Shiba Inu- First meme coin to be petitioned for an ETF approval
Book of Meme (BOME) - Third largest Solana-based meme coin
Dogwifhat (WIF) - Leading Solana-based meme coin with over $1 Market price
Bonk (BONK) - Highest-Gaining meme coin on Solana network
Angry Pepe Fork (APORK) - First meme coin to introduce “conquer-to-earn” system.
The Shiba Inu (SHIB) community is nearing a significant milestone with their petition for a Shiba Inu ETF, which is close to reaching 10,000 signatures. In just 58 days, this campaign has gained substantial traction. Meanwhile, supporters, including the SHIB BPP initiative, have been rallying for more signatures, urging community members to join the effort.
Furthermore, this petition, directed at Grayscale Investments CEO Michael Sonnenshein, aims to demonstrate the demand for a Shiba Inu-specific ETF. With over 9,719 signatures, the campaign has already surpassed its initial target of 1,000, set for February 25, and has recently seen a surge of 140 new signatories in the past week.
Despite the community's active campaigning, Grayscale Investments has yet to respond, leaving enthusiasts awaiting a reply. Grayscale, a significant player in the cryptocurrency ETF market known for its Bitcoin and Ethereum ETFs, currently does not offer a SHIB ETF.
Meanwhile, crypto advocates believe that a regulated and accessible ETF would enhance SHIB token's stability and promote mainstream adoption, pointing to Google Trends data as evidence of SHIB's increasing popularity and demand. Currently, SHIB token is trading at $0.00002185, experiencing a 9% decline over the past week, indicating a period of consolidation and a potential oversold condition.
The price of BOOK OF MEME token has been put through a series of tests in the past few weeks. After surging to a monthly peak price of $0.015 in the middle of the month, the native BOME token was subsequently met by a major decline that pushed the price to its year-to-date average of $0.010.
While it currently trades around $0.0099, Book of Meme token’s year-to-date price trajectory suggests that a potential upswing could be in sight. Meanwhile, BOME token’s YTD increase of nearly 1000% has contributed significantly to the meme coin’s overall positive sentiment, as well as solidifies its position among the best meme coin to watch out now.
Well, Ethereum-based Shiba-Inu is not the only token aiming to secure an ETF approval. dogwifhat (WIF) which is based on the Solana blockchain is also pursuing the same ambitious goal. Launched in 2023 and now aims for ETF approval from Grayscale, dogwifhat token features a Shiba Inu wearing a unique pink knitted hat, highlighting its playful and light-hearted nature.
However, unlike cryptocurrencies focused on technological advancements or societal change, dogwifhat token embraces its identity as a fun and straightforward meme coin. Currently priced at $2.54, the native WIF token has the potential for a significant increase, positioning it as a meme coin to watch closely.
BONK, known as the "dog coin of the people," was airdropped to select Solana wallet addresses in December 2022 and has since seen rapid growth in popularity. It has become the most widely held dog-themed cryptocurrency on the Solana blockchain.
With over 110 integrations across DeFi, gaming, development, and exchanges, BONK coin has evolved from a quirky airdrop into a viral meme coin, experiencing a remarkable 8722% spike in a year.
Meanwhile, BONK community is also petitioning for an ETF approval from Grayscale, just like Shiba Inu, seeking to solidify its market presence further. Currently priced at $0.00002744, many cryptocurrency analysts believe BONK could reach new heights in the coming months.
Angry Pepe Fork (APORK) joins the list of Solana-based meme coins; albeit, with a little bit of twist to its solution. With its innovative "Conquer To Earn" system, Angry Pepe Fork is here to bring order and fresh opportunity to the meme coin space. Notably, this "Conquer-to-Earn" mechanism encourages gamers to team up and collectively kick out stale meme coins, ultimately fostering a robust community which in turn creates more traction for the meme coin.
Meanwhile, the APORK army can start earning during the presale from which point the excitement begins. Three lock-in periods are available on the staking portal, each suited to a different level of commitment: 30 days for novices, 60 days for seasoned campaigners, and 90 days for players ready to make big profits. With every battle, the APORK army wins against zombie meme coins, and the amount of APY in the staking pool rises.
Furthermore, analysts’ excitement over APORK's potential is through the roof. By the time the presale ends, they anticipate a 200% price increase, and a plausible 300% once it lists on top-tier exchanges. According to some analysts, APORK could transform the meme coin market by becoming the next 100x Solana meme coin.
While the native APORK token is currently selling for $0.014 in the initial presale phase, now presents an opportune moment to buy as its current trajectory indicates a coming surge in price. Additionally, suppose you are a die-hard fan of the Angry Pepe Frog or missed out on native Pepe Coin at an early stage, then this project may be of great interest to you as it offers even a much better prospect.
Due to their volatile nature and community-driven hype, meme coins offer high potential for quick returns, making them an attractive option for investors seeking rapid gains in the cryptocurrency market.
High Growth Potential: Meme coins can experience rapid price surges due to viral social media trends and community-driven hype.
Community Support: Strong, active communities often drive the success of meme coins, providing stability and continuous promotion.
Low Entry Cost: Many meme coins are affordable, allowing new investors to enter the market without significant financial risk.
Innovation and Utility: Meme coins are increasingly incorporating innovative features and real-world applications, enhancing their value proposition.
The surge in interest in a Shiba Inu Grayscale ETF has spotlighted meme coins, particularly those based on the Solana blockchain. As the petition for Shiba Inu nears its signature goal, the potential for other meme coins like Book of Meme, dogwifhat, Angry Pepe Fork, and Bonk to follow suit becomes increasingly plausible.
These coins, each with unique characteristics and strong community support, highlight the cryptocurrency market's dynamic and rapidly evolving nature. As such, investors are keenly watching to see if these meme coins can replicate the success and mainstream acceptance that Shiba Inu is striving for.
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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.
