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Memecoins have seen an exponential rise in popularity as of recently, fueled by the broader crypto market rally. The entire industry is at an uptrend, as the market cap exceeded $2.8 trillion, and could soon reach even higher records. Memecoins are a major point of appeal as they are taken far less seriously, and are extremely affordable due to their low cost.
Yet, by being influenced by various elements, they are also extremely volatile and have spiked in value significantly.
Multiple top crypto experts are now on the lookout for memecoins that can supply them with high ROI, and based on the on-chart metrics, there is a lot of variety available for those looking for this opportunity. This is why investors and traders are diversifying with meme coins.
There are hundreds of meme coins available, with new ones constantly releasing. However, based on the on-chart metrics and a lot of research, we have narrowed the list down to the seven top meme coins to invest in for the 2024 bull run.
KangaMoon (KANG): an upcoming community-driven memecoin with Social-Fi elements and a community-driven approach
Shiba Inu (SHIB): the "Dogecoin killer" that created a vast ecosystem including the Shibarium Layer-2 scaling solution
Dogecoin (DOGE): the original meme coin that sparked this subcategory of cryptocurrencies and has blown up the most in market cap
Pepe (PEPE): an uprising meme coin based on Pepe the Frog which exploded in value
FLOKI (FLOKI): another Doge inspired meme coin that has seen major appeal from traders
After getting to know more about the five best memecoins to watch, let us now uncover the key factors that can lead to even more substantial growth during 2024 and beyond for each one.
KangaMoon (KANG) is an upcoming meme coin ecosystem that will be focused on a community-driven approach and will even feature Social-Fi elements. It is built on top of the Ethereum network and its native crypto, KANG also follows the ERC20 token standard.
The catalyst for its growth is its ability to revolutionize the meme coin space. It will enable anyone to earn as-well, as users can simply comment or retweet on X, and can participate in various gameplay elements. Those who do not want to battle directly can also spectate battles, place bets and earn that way.
So far, during the presale, the KangaMoon crypto has risen from $0.005 to $0.01125. This is indicative of a 125% jump in its value throughout the blockchain ICO. As a result, analysts are now optimistic about its future and project that its value can spike by $1 by the end of the year, and a significant level of growth will occur following its listing on Tier-1 exchanges, expected to occur in Q2, 2024.
So far, the project has hit $1.6M and analysts project it to reach $2 million by the end of March. These aspects make KANG the hottest meme coin for 2024 where it can outshine many competitors.
Shiba Inu (SHIB) is one of the top meme coins that, during the past year made waves with the launch of the Shibarium Layer-2 scaling solution for Ethereum. Since then, the crypto has risen 236% as evidenced from its year-to-date (YTD) chart. It's dubbed as the "Dogecoin Killer" as its main competitor, and in the past month, it increased 264%.
Moreover, just in the past week, Shiba Inu surged from a low point of $0.0000264 to a maximum value of $0.000044. According to analyst projections, the Shiba Inu price prediction puts it at $0.000059 by the end of 2024.
Dogecoin (DOGE) is one of the largest cryptocurrencies by market cap, and is the 10th largest crypto in the entire industry. This has made it the go-to meme coin for a lot of people who want to diversify with this category.
However, during the past year, Dogecoin climbed by 171%, and in the past month it more than doubled with a 116% upswing. In the past seven days, the Dogecoin crypto also surged from $0.1387 to a maximum value at $0.1984. As a result, many traders believe that the meme coin space can surge and that the Dogecoin crypto can reach $0.2538 by the end of 2024.
Pepe (PEPE) is a newer meme coin that initially exploded in value following its launch. It stands out by introducing a deflationary mechanism which burns a small percentage of tokens with every transaction. Moreover, it is a meme coin that has no intrinsic value, or any expectation of financial returns.
Yet in the past 30 days alone, the Pepe price surged by 796%. Moreover, just in the past week alone, its value surged by 22%, and it has an average trading volume of $1.6 billion. The growth experienced by this meme coin cannot be understated, and based on the latest projections by analysts, it can surge as high as $0.000013 by the end of 2024.
FLOKI (FLOKI) is a meme coin that is based on Elon Musk's dog, which is a Shiba Inu dog. Yet, it's also a fully-fledged Web3 project that spans across the Metaverse, Non-fungible tokens (NFTs) and even Decentralized Finance (DeFi).
During the past year, the cryptocurrency increased in value by 800%, and during the past month alone, it's up 790% as-well. It's clear that there is a positive market sentiment, and according to the FLOKI price prediction, it can end 2024 at $0.000351.
Meme coins are cryptocurrencies that typically pay homage to a specific meme, which is a funny idea shared across the internet in the form of a specific media file, like an image or a video. They are not designed with any specific utility in mind but as a means of going viral and being shared, and typically have no intrinsic value.
The key reasons why meme coins are a major point of appeal is that they are affordable, and have historically surged in value significantly. They are affected by news, social media engagement, and by being community-driven.
These meme coins can all surge significantly during 2024 based on the latest on-chart metrics and analytics projections. Yet, while DOGE, SHIB, PEPE and FLOKI are all solid performers, the most significant gains can be made with KANG. Not only does it have a massive growth potential and it's in the presale phase, but it also has the community to pass them with growth as it gets listed on Tier-1 exchanges. These aspects make KANG one of the best meme coins to buy.
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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.
