Over the last bull run, and even into this year, meme coins have shown themselves to be formidable contenders in the crypto market. The gains from these digital assets with seemingly no utility have created their own fair share of millionaires. Now, while these assets are riskier to invest in due to their much higher volatility, they still get a lot of attention from investors. So here are five meme coins to keep an eye on going into the next bull run.
Dogecoin (DOGE)
Dogecoin (DOGE) is the OG meme coin. Without DOGE, the whole idea of meme coins would not exist, and neither would they be seeing as many gains as they have. Dogecoin caught the eye of billionaire and SpaceX CEO Elon Musk who said it was his favorite cryptocurrency.
Related Reading: Bestselling Finance Author Says Bitcoin Will Reach $500,000, But What Will Drive It?
Musk’s support of the coin would trigger a massive rally in early 2021, giving birth to the blossoming meme coin space. The most important thing about DOGE and why it is number 1 on this list is that it is still heavily supported by Musk, which could be a catalyst for it to rally in the next bull run, especially with expectations that the billionaire would find a way to integrate it into Twitter.
DOGE leads meme coins | Source: Coinmarketcap
Shiba Inu (SHIB)
Shiba Inu is the next candidate due to its rivalry with Dogecoin. SHIB was able to emerge as one of the most valuable meme coins by promoting itself as a ‘Dogecoin killer’. It would go on to rally more than 1,000,000%, amassing a cult-like following in the process.
SHIB was hit hard in the bear trend that dominated most of 2022 but it is still holding up above $0.00001, which is a good sign for the digital asset. Add in the development of the SHIB metaverse as well as the upcoming launch of Shibarium, a Layer 2 solution, and there is still a lot of runway for it.
SHIB price holds above $0.00001 | Source: SHIBUSD on TradingView.com
Floki Inu (FLOKI)
Floki Inu is another meme coin that was born in relation to Musk’s post on Twitter. When the billionaire posted his Shiba Inu dog and said he would name him Floki, Floki Inu quickly popped up, amassing massive gains in the process.
Now, one of the things that makes Floki Inu attractive to investors is how quickly it can move. An example of this is the series of posts Musk made on Twitter featuring pictures of his dog Floki dressed as Twitter CEO and since then, the price of FLOKI has rallied almost 100%.
The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH
— Elon Musk (@elonmusk) February 15, 2023
If this continues into the bull run when prices of digital assets are easily moved, a post such as this from Musk can easily send the price of the meme coin flying.
Baby Doge Coin (BabyDoge)
Of all of the meme coins on this list, Baby Doge Coin (BabyDoge) is the one with the most zeros left on its price. The spin-off of Dogecoin has already seen a lot of gains, but as with the meme coin community, when they see a lot of zeros left, they see a lot of potential.
Just for this reason alone, as well as the hype that follows the coin, the possibility of more investors getting in trying to catch the next moon bag becomes high. Thus, it could be a good one to keep an eye on going into the next bull run.
Bone ShibSwap (BONE)
BONE is the native token of the Shiba Inu ecosystem and its ShibSwap DEX. Given that its supply is much lower than that of SHIB, it has already seen a lot of growth. However, just like SHIB, BONE has a lot to gain from the upcoming Shibarium launch to an even higher degree.
Shiba Inu developers have already revealed that BONE will serve as the underlying token for the Layer 2 blockchain. This means that BONE will be used for fees which would drastically increase demand for the coin if Shibarium turns out to be as successful as expected.
Bonus Meme Coins
Others that could be good to also keep an eye on include Dogelon Mars, DogeBonk, and Dogechain. These three saw a lot of support at their peaks and have lost a significant portion of their all-time high value.]
Disclaimer: The cryptocurrencies mentioned in this article are known to be highly volatile. This means that the risk of losing your money when investing in coins like these is incredibly high.
Credit: Source link
