The memecoin market has been booming in April, with the total market cap exceeding $63 billion, prompting us to explore the top memecoins for your portfolio this month.
Memecoins are currently one of the hottest tokens in the crypto market. Known for their wild spikes and crashes in price, many of the top memecoins have risen by more than 10,000% in recent months, and when investors choose the right coin at the right time, they can reap huge profits.
However, not every memecoin is a winner, so investors must be smart in identifying high-potential tokens before pursuing them. In this guide, we will list the top 5 memecoins to buy in 2024 and provide all the basic information that investors need to know about investing in memecoins.
Dogecoin20 (DOGE20)
First up is the famous Dogecoin, which will be launched in 12 days and has a unique twist. This upgraded version has already amassed a market cap of over $10 million and offers more than just meme appeal. For detailed instructions on how to buy $DOGE20, see our detailed guide.
Dogecoin20 adheres to the philosophy of its predecessor "do only good things every day" and aims to support charity projects and community projects.
Furthermore, the team demonstrated their expertise by introducing a staking mechanism that allows users to passively increase their investment with an annual yield of 54%, which will decrease as more tokens are staked.
Unlike Dogecoin’s unlimited supply, Dogecoin20 also implements a limited supply to combat inflation and price dilution. In addition, Dogecoin20’s environmentally friendly features make it different from the original version, running on Ethereum’s environmentally friendly proof-of-stake mechanism.
#DOGE20
Than the original
#DOGE
Greener and more versatile because it runs on Ethereum’s Proof of Stake network.
It is easily accessible and does not require a proof-of-work mining setup.
As an ERC-20 token, it can be easily stored in any popular self-custodial wallet.
pic.twitter.com/hghmBYNSIw
— Dogecoin20 (@DOGE_COIN20)
March 16, 2024
These advantages, coupled with the upcoming Dogecoin Day Initial Exchange Offering (IEO), indicate a promising future. Traders can still purchase Dogecoin20 at the fixed pre-sale price, but with only 12 days left until Dogecoin Day, they must act fast. Check out our $DOGE20 price prediction for insights into its future value.
dogwifhat (WIF)
Dogwifhat is a Solana-based meme coin with a market cap approaching $4 billion, surpassing Pepe to become the third-largest meme coin. Its price surpassed $4 on March 28, marking a significant growth since its launch.
The “dogwifhat” meme, which originated from a photo of a Shiba Inu wearing a small hat, became popular on Twitter in late December 2019. WIF entered the market at $0.001555 in December 2023, reaching $0.30 at the end of the month before falling to $0.08 in January, highlighting the speculative nature of the memecoin.
Inspired by Dogecoin, the value of dogwifhat is entirely speculative. Despite reaching an all-time high of $4.64 on March 30, it fell more than 20% last week and is trading at $3.6. Despite the decline, WIF ranks 36th in market capitalization with a market cap of $3.64 billion and is favored by retail investors, indicating that price volatility is still significant.
The Book of Memes (BOME)
Book of Memes (BOME), a new addition to the Solana network, was listed on Binance within 48 hours of its launch and reached a billion-dollar market cap in the same time frame.
As anticipation grows for the Bitcoin halving event on April 20, BOME has experienced significant growth, gaining 4.10% in the past 24 hours and 2% in the past week. Memecoins like BOME are being closely watched by investors who speculate that it could reach $0.05 after the halving.
Currently trading at $0.014 with a market cap of $7.8 million and a trading volume of $366 million, BOME maintains bullish momentum and strong investor interest. Some analysts predict that BOME could reach $0.06 by the end of April.
The upcoming Bitcoin halving event and the visibility that will trigger bullish sentiment and price increases could have a positive impact on BOME and other meme coins. In order to reach its $0.05 target, BOME must maintain momentum, attract new investors, leverage its brand and community support, and seize potential viral marketing opportunities.
Pepe (PEPE)
This time last year, a new cryptocurrency called PEPE emerged, inspired by the popular internet frog meme Pepe. Unlike other meme cryptocurrencies, PEPE fully embraced its meme status.
Its tax-free policy and open admission of its lack of practical use make it very attractive to investors chasing meme trends. PEPE has experienced a notable rally in the face of a falling market.
Despite being one of the top memecoins, it has shown itself to be susceptible to short pressure when market sentiment shifts and prices drop sharply.
A variety of factors contributed to its decline, including investor withdrawals and a general market decline that affected not only PEPE but other Solana memecoins and potential high-growth assets as well.
Despite the recent decline, PEPE has seen a significant increase in price since the beginning of the year, with a value of 4,15%. However, it is not considered a “hype coin” and one would expect it to recover, especially since it remains favored by influential investors in the cryptocurrency market.
Shiba Inu (SHIB)
Last up on our list is the established memecoin Shiba Inu. Initially seen as a Dogecoin clone, Shiba Inu has grown into a complex ecosystem. It has seen a significant increase in its recent token burn rate, with 24.2 million SHIB tokens destroyed in the past 24 hours, a burn rate increase of 61.02%.
The current circulating supply is 589.29 trillion tokens, highlighting the importance of token burn events in maintaining scarcity and ensuring a strong ecosystem.
Despite a drop of 19.75% in the past 30 days, SHIB’s price has experienced a significant rebound and is currently trading at $0.000028, up 4.29% in the past 24 hours. Meanwhile, trading activity has risen by 39.35%, with a 24-hour trading volume of $537.37 million, reflecting the growing interest of bullish investors.
While SHIB may continue to consolidate in anticipation of the Bitcoin halving event, its market cap of nearly $17 billion and thriving ecosystem put it on track for further expansion, solidifying its importance in any memecoin portfolio.
Related
Shiba Inu Price Prediction: SHIB destruction rate in focus as traders rush to buy Dogecoin20 before it’s too late
Top 5 Solana Meme Coins About to Surge — $BONK, $BOME, $SLERF, $WIF, and $SLOTH
Pepe Price Prediction: PEPE Drops 7% as Traders Turn to Upcoming Solana Meme Coin
dogwifhat Price Prediction – Can $WIF reach new highs, or should you consider buying into the Dogecoin 20 presale for early gains?
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