The recent increase in the price of Dogecoin, according to anonymous cryptocurrency analyst Crypto Tony, may lead to a spike in the value of other meme coins. But with Bonk and KangaMoon rising in the rankings, investors find it challenging to choose the best crypto to buy.
Crypto Analyst Optimistic About Dogecoin (DOGE) Potential in 2024
According to crypto researcher Tony, Dogecoin (DOGE) will lead the next wave of meme coin rallies. The analyst predicts that when Dogecoin’s price increases, other memecoins will as well.
The analyst’s graphic indicates that Dogecoin should hit $0.10 before the end of May. The prediction is validated by a significant increase in Dogecoin transactions. In spite of the rise in transfers, the price of Dogecoin stays within the range of $0.07811 and $0.0831.
The altcoin price has increased by 4.9% on the 7-day price chart but has dropped 0.5% on the 30-day timeframe. Dogecoin’s popularity as the largest meme coin has not affected its price movement positively in the past month. As a result, investors are moving over to other meme coins.
Bonk (BONK) Price Rallies 27.7%
Unlike Dogecoin, the Bonk (BONK) meme coin has seen more price growth in the past week. Data from CoinMarketCap shows an increase of 27.7% as the altcoin price moved to a weekly peak of $0.00001397 from a low of $0.00000989.
This price surge has pushed Bonk coin back to the top 100 cryptos by market cap. Meanwhile, Bonk’s latest price ascent is not due to any development on the platform. Instead, the meme coinis just riding the wave of the positive momentum spreading across the crypto community. Nevertheless, Bonk’s technical indicators show the token is bullish.
It is trading above the 50-day SMA ($0.00001196) and 200-day SMA ($ 0.00000533), a sign of bullish control. Analysts are predicting a potential rise to $0.00002396 in the coming weeks.
KangaMoon (KANG) Poised To Lead the Memecoin Rally
KangaMoon (KANG) has emerged as a new favourite in the meme coin sector, challenging top names like Dogecoin and Bonk with its utility-driven approach, vibrant community, and distinct tokenomics. This new meme coin boasts a limited supply of one billion tokens.
This creates a scarcity that Dogecoin’s supply of over 143 billion tokens does not have. This scarcity makes the KangaMoon DeFi coin a compelling investment option, expected to deliver huge gains in the future.
Moreover, KangaMoon is not just about the memecoin but about providing an engaging platform where users can enjoy various activities. They can participate in competitions to earn valuable rewards or interact with other meme coin enthusiasts. These initiatives are part of KangaMoon’seffort to merge Social-Fi and play-to-earn elements.
In terms of security, KangaMoon smart contracts have been audited by SOLIDProof. So, users have nothing to fear as their assets are always safe. At the moment, the KangaMoon DeFi coin is priced at $0.005. Market analysts predict a 220% increase in value throughout the presale, which is a good reason to join now at the early stage.
In the future, KangaMoon plans to launch a play-to-earn game in its ecosystem. This move is part of its plans to create a community-driven meme coin project where members can actively contribute and share in the platform’s achievements.
Conclusion
Even though Dogecoin and Bonk are among the most popular memecoins available, they both lack a crucial characteristic: real utility. Dogecoin and Bonk are useless outside of being payment tokens. This is why KangaMoon is the best crypto to buy in the meme coin space.
In addition, KangaMoon gives its owners access to prizes and governance privileges, among other perks. It’s interesting to note that KangaMoon intends to develop this usefulness further by introducing a metaverse, an NFT marketplace, and a play-to-earn game in the future.
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