At first, meme coins were meant to be funny, but they have gone beyond humor and are now an essential part of the cryptocurrency world. Unlike other cryptocurrencies, memecoins have strong community back-up hence most decisions are made collaboratively with supporters spearheading them. Their increasing popularity is resulting from a recognition on the part of people to the effect that decentralization is becoming spread; it is also presently customary within the Cryptocurrency Communities’ circles. While we may argue regarding the extent of decentralization, no one can dispute the zeal with which the public participates in this affair.
From my point of view here are my top meme coin for this upcoming bull market and these coins have an amazing journey from internet humour to important crypto assets to hold.
1. Dogecoin
Dogecoin (DOGE), often referred to as the first memecoin, has carved out a unique niche in the cryptocurrency market. Dogecoin is showing a great increase in value trajectory amidst the positive market sentiment where the coin had exceeded $0.2 mark that means this bullish pattern might be continued. For this year so far Dogecoin’s YTD performance has been impressive even at 127% despite the recent drop while over the last month it has gained 66%. Dogecoin price is currently trading above the crucial Exponential Moving Average (EMA) indicator indicating that there is a strong support.
2. Shiba Inu
Shiba Inu is one of the most notable meme-centric digital assets in the cryptocurrency industry, ranking just behind Dogecoin and establishing itself as one of the top meme tokens by market capitalization. After struggling throughout 2022, Shiba Inu has seen a modest recovery starting in early 2023, helped by the broader cryptocurrency market rally led by giants like Bitcoin and Ethereum. The resilience and passion of the Shiba Inu community has played a key role in this resurgence, fostering the development of new projects within the ecosystem. Specifically, Shiba Inu is entering the metaverse, creating a space for users to interact, earn rewards, and participate in a decentralized environment. Entering 2024, Shiba Inu has seen significant price gains, most notably in March, when it rose nearly 300%, highlighting the asset's volatility and potential for rapid upside.
3. Pepe
Pepe or PEPE is a new comer in the realm of cryptocurrencies having originated from Ethereum network.So far This new memecoin has turned out to be one among the fastest rising digital assets globally .Overall market activities are gaining ground rapidly.Pepe is mainly associated with an online culture and humor represented by the well known green cartoon frog riding on its back.The coin’s release was aimed at playfully questioning memecoin leadership dominated by dogs. Pepe though saw a dramatic rise, topped 100 on CoinGecko and now stands 20 maintaining its remarkable early gains.
4. Floki Inu
Floki Inu, which originated as just a meme, has now transformed itself into a full-fledged Web3 project that has spread its roots in the Decentralized Finance (DeFi), Non-fungible tokens (NFTs) space. It is becoming rampant specifically in this metaverse Valhalla, where we have recently started experiencing some boom owing largely to the presence of cryptocurrencies such as Bitcoin among others trading there without restrictions. It is due to this massive utilization that led its followers to dub it “The People’s Crypto.”
FLOKI had a great beginning to 2024, posting its highest growth ever at 530% since the start of the year. This March stood out because FLOKI was worth as much as 460% more when it reached its topmost point ever increasing pass $0.0003 which seemed too high psychologically at some point in time before now though coming down from there but still trading little over $0.00025.
4. Bonk
Bonk was a project began in early 2023 on the Solana ecosystem to embrace meme coins, like Doge (DOGE) or Shiba Inu (SHIB). The value of BONK tokens has witnessed a vertiginous surge since its establishment. Over the past one year, the BONK coin prices have moved from $0.000001976 to$0.000033 marking a remarkable 5,307.15% increment on Year-To-Date (YTD) scale by today.
Meme coins began developing on the Solana network lately, surprising many social media users. Building on its success, BONK now holds the coveted meme coin of the year title according to CoinMarketCap. This rapid rise of BONK demonstrates an ongoing desire for meme tokens in the crypto market.
Let me know what are your favourite meme coins that you have invested for the upcoming bull season in 2024.