After the collapse of Pepe in 2023, the meme coin niche hype died down as the market became unfavorable. However, the crypto bull run of 2024 has reignited the fire in the meme coin market. The list below indicates the best meme coins to invest in for potential growth of 100x in 2024.
KangaMoon (KANG)
KangaMoon (KANG) started its presale a few weeks ago and the meme coin has swiftly established itself as one of the top meme coins in the meme coin market. KangaMoon has skyrocketed by 125% in the past few weeks as the price surged from $0.0050 to $0.01125. With its ability to incorporate social fun engagement with P2E NFT gaming, KangaMoon creates a community of meme lovers, ready to compete in different gameplays.
KangaMoon has experienced a huge surge in its presale, with early investors pocketing 125% ROI. The team has raised over $1,000,000 in the ongoing stage 3 of the presale, with analysts projecting $1.5M in the coming days. Some analysts have also forecasted over 100x price growth in the year, which could likely push the price to over $5 before the year-end.
Notwithstanding its position as a new meme coin, KangaMoon allows holders of its native token to earn free KANG tokens while still at the presale. To achieve this, users only have to engage in activities such as commenting, sharing tweets, and liking posts that promote the platform.
Backed with a real utility unlike many meme coins, KangaMoon has the potential to become one of the next meme coins to break out. As such, analysts project that KangaMoon’s price could reach $1 when it is listed on a major tier 1 exchange in Q2 of 2024.
Bonk (BONK)
Bonk (BONK) is one of Solana network top meme coins that have gained popularity in recent times. Although a new entrant, the token has grown so big to become the 22nd crypto in terms of trading volume. On the year-to-date chart, Bonk’s price surged by more than 6500% and completed it with a 174% increase in the past 30 days. Attesting to Bonk’s potential growth is the crypto aggregator platform Coinmarketcap, which ranked it as the 2024 winner of the Meme Coin award category.
Bonk’s price has climbed past the support level of $0.00002861 and is now eyeing the next resistance level of $0.00003513. With the 100 and 200-day EMA showing heightened buyer activity, Bonk’s price is expected to continue to trade at a robust bullish level in 2024.
DogWifHat (WIF)
DogWifHat (WIF) made a giant leap in 2024 after going from a low of $0.2 to a high of $2. Having made its crypto debut in 2023, DogWifHat has leaped above many cryptocurrencies, trading for $2.09 currently. The Solana-based meme coin made over 1100% increase on the year-to-date price chart and continues the trajectory with an impressive 836% increase in the past 30 days. DogWifHat was promptly listed on the Binance exchange with the price skyrocketing Beyond measure since then.
Analysts opined that this huge DogWifHat surge didn’t just happen by accident. Apart from the hype generated by the token, DogWifHat has been helped by the activities of the whales who have continued to accumulate the token. The robust Solana ecosystem that DogWifHat is built upon has also shown its worth to the wider crypto audience. With continued whale injection, analysts predict that DogWifHat price may sell at $5 before the end of the year.
Pepe (PEPE)
Pepe (PEPE) made its crypto debut in 2023, eclipsing top meme coins to become one of the best new meme coins. In 2023, Pepe saw an astronomical rise of more than 1000% before the bear pressure hit the token. However, in the past few weeks, Pepe’s price has gained traction, finally setting a new all-time high record of $0.000002892 on March 8, 2024. On the year-to-date price chart, Pepe surged by 15,000% and continued the bullish movement on the monthly chart with an impressive 790%. Although there is a prediction of a bearish pullback, Pepe is going unhindered, having moved up by 100% in the past 7 days.
Shiba Inu (SHIB)
Shiba Inu (SHIB) was sensationally bullish in 2021, rising to its all-time high record of $0.00008845. Since then, Shiba Inu has been severely damaged by the bear market, falling significantly as investors began to sell the token. However, the resurgence of the meme coin market has boosted Shiba Inu, with the token making a flying start in 2024. The popular meme coin has surged by 270% in the last 30 days with a market cap of $20B, making it the 10th most valuable crypto in terms of market cap.
The Shiba Inu key market indicators point towards the bullish dimensions. The meme coin trading volume has been more than $4B in the last 24 hours with a weekly price increase of 58%, taking the Shiba Inu’s price to $0.000003454. With Shiba Inu revolutionizing its ecosystem and collaborating with key market holders, the token is expected to see more global appeal which could attract more investors to its fold. As such, analysts rate Shiba Inu highly and believe it is one of the best meme coins that can give 100x return in the year.
Conclusion
With the resurgence of the meme market, the market focus has shifted towards the meme coins. While it might be a good time to invest, investors should do proper research before delving into investing. With many meme coins not having any utility, it may be difficult to gauge their long-term prospect. Although KangaMoon looks promising with its social-fi model embedded with P2E gaming, prospective investors should weigh the pros and cons of investing, such as fluctuation and unfavorable market conditions.
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