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The price of Bitcoin (BTC) has now gone up 6.5% in the last 7 days as it continues to recover from last Monday’s scare. Bitcoin is often a signifier of how the rest of the market will perform so it's very promising when analysts are predicting that it still could hit another all-time high before the end of 2024.
The trickle-down effect will likely be felt by the meme coin market which has mostly thrived so far in 2024. What is interesting, however, is it is not the top ranked meme coins on CoinMarketCap that are performing the best, it is new projects that are attracting the majority of investors.
Taking that into account, we thought it would be a great time to do an analysis of what meme coin projects have the most explosive potential. We chose presale projects as they give investors the most scope for gains from their investment. There are so many new meme coins nowadays but there were eight that stood out in particular:
Pepe Unchained ($PEPU)
Crypto All-Stars ($STARS)
Base Dawgz ($DAWGZ)
PlayDoge ($PLAY)
The Meme Games ($MGMES)
Shiba Shootout ($SHIBASHOOT)
Sponge V2 ($SPONGEV2)
DogDump ($DOGDUMP)
Let's get into each project now and see where the explosive potential comes from.
Pepe Unchained ($PEPU) is one of those new tokens that have started popping up this year that aims to improve an established meme coin. In this case, it is Pepe Coin (PEPE). Back in 2023, the meme coin market looked like it could be soon extinct and Pepe Coin’s success is a big reason why it is now thriving. However, it has probably come as far as it can go because of its limitations.
Bound to layer 1 there is not much room for ecosystem growth. That is why Pepe Unchained built their project on its own layer 2 chain. This means that its potential is basically unlimited when it comes to growth. It's great news for investors too as they can experience the faster transactions and lower gas fees that come with layer 2. Investors seem to be all in as the project has raised an impressive $8.7 million.
Staking has become a huge part of the meme coin sector since investors started to value utility much more. It can be great for the project as it gives it an extra layer of security and great for investors as they get a chance to earn more crypto. Now, imagine a project that will flawlessly execute multi-token meme coin staking for ALL meme coins, under one unified system—that is what Crypto All-Stars will do ($STARS).
The presale has just started but has already raised over $340k. The Crypto All-Stars system will allow the top meme coin holders to come together under one umbrella that is this project. This means that the staking rewards will be incredibly high for investors. By investing in Crypto All-Stars you are betting on the future success of the meme coin sector and we have all seen what 2024 has brought so far.
Base Dawgz ($DAWGZ) presale has raised over $2.9 million but we think that figure is going to shoot up very soon. That’s because this meme coin has so much going on alongside its great virality potential from its dare-devil pup. Base Dawgz will be a multi-chain token so although its home is on the exciting base chain, it will also get the benefit of being available on ETH, SOL, BSC and AVAX.
There are also big chances for gains here. The staking APY is estimated to be a massive 873% and investors can avail of a great share-to-earn promotion too. All they have to do is share information related to the presale on their social media, memes for example, and they can earn points. These points can then be traded in for $DAWGZ once the presale ends. A chance to stock up before the project pumps!
The PlayDoge ($PLAY) team have announced that its presale will be ending on August 26th meaning investors will need to act quick if they want a slice of this year's hottest P2E game. The presale has already raised over $6 million but we expect that number to rise quickly before it ends. The game is going to attract a lot of 90s kids thanks to its retro feel and of course, its muse.
It takes inspiration from Tamgotchi, the game every kid who grew up in that decade will remember. Players will need to take care of their pet pup by entertaining it, feeding it, and giving it medicine when it's sick. There is also the added bonus of earning $PLAY during the game if you can rank on the global leaderboard.
Everyone is experiencing some Olympics withdrawals now as the games have ended and we no longer have something to watch everyday. There is no need to worry though as The Meme Games ($MGMES) project is here to fill that gap. Christened as the official token of the games, this meme coins presale will continue to run alongside the Paralympics. The presale has raised over $360k
When investors purchase their tokens they will be faced with a challenge, they will be asked to predict the winner of the 169 m meme coin dash. It will be contested by the big hitters of the market; Doge, Pepe, Brett, Turbo, and Dogwifhat, each representing a country with a unique twist. If they guess right, they will get a huge 25% presale token multiplier. Another chance for gains before listings even begin.
As you can see from the title, Shiba Shootout ($SHIBASHOOT) is a meme coin project that has a lot going on for it. The presale is still relatively young but has raised just shy of $1 million. The main attraction is the P2E game. It is set in the fictional Wild West town of Shiba Gulch and is a place where investors can come together to share memes and battle one another.
There are also plenty of other ways to earn revenue from this project. Staking rewards are very high and there is also a Lucky Lasso Lottery. Participants can use Shiba Showdown tokens for a chance to win big crypto prizes if they enter. Lastly, Shiba Shootout values its community so it wants its investors to have a say in big project decisions via a Token Governance Roundup.
Sponge V2 ($SPONGEV2) is one of those projects that has to be included in any of these lists because of the sheer innovation that the inventors have shown. It is the second coin from the ecosystem that also brought us Sponge Token ($SPONGE), one of the most successful meme coins of 2023. The project has found a way to make sure both coins succeed and don’t split investors.
The method is called stake-to-bridge. How it works is investors who wish to purchase Sponge V2 must first buy and stake Sponge Token. When they do so an equivalent amount of version 2 will be purchased and stored away for them. When the total allocation of $SPONGE is sold out, the new Sponge V2 will then officially launch and investors can claim their tokens along with staking rewards.
DogDump ($DOGDUMP) is the second project on this list that is banking on the downfall of Dogecoin (DOGE). This has been a common theme this year that these kinds of projects are popping up and we agree with their DOGE forecast. While other projects hope to take some Dogecoin space, DogDump will literally thrive when the original meme coin fails.
How it works is the project is going to burn 0.2% of the total allocation of $DOGDUMP every time the DOGE finishes in the red. As we know in 2024 scarcity is one of the most valuable assets to a crypto project. This means that if Dogecoin continues its poor performance, DogDump will grow in value.
Okay, we are just at the end of this analysis now. We would like to stress the potential these presale projects have. Not only do their low prices mean that they have more room for gains, but they also have unique properties that should make them very appealing to 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.
