The Prominence of Meme Coins in the Crypto Market
While major cryptocurrencies like Bitcoin and Ethereum have been dominating the headlines, meme coins continue to hold their relevance. With investors becoming more optimistic and pouring money into the crypto market, meme coins are expected to experience a surge in both their relevance and prices. As the Bitcoin halving event approaches and April 1st promises potential new all-time highs for meme coins, let’s explore some of the best internet-joke-based cryptocurrencies apart from Shiba Inu (SHIB).
Dogecoin (DOGE)
One cannot discuss meme coins without mentioning Dogecoin, the original dog-themed cryptocurrency with a market cap of over $12 billion. Dogecoin has proven its staying power over the past decade and recently surpassed 1 million daily transactions. The coin also enjoys support from billionaire Elon Musk, who gave it a significant boost by temporarily changing his social media platform’s logo to a shiba inu dog. While it’s uncertain if Musk will repeat this joke in April, the anticipation alone could drive more interest in Dogecoin.
Pepecoin (PEPE)
Pepecoin, a frog-themed meme coin that gained immense popularity upon its release in 2023, still holds relevance among meme coin enthusiasts. Despite its initial surge being short-lived, Pepecoin has the potential to benefit from the expected crypto bull market in 2024. Its audience expanded further when Robinhood made it available to its EU customers earlier this year. Pepecoin has performed well so far this year, with a 5.32% increase over the past 30 days and a strong 10.67% rise in the last week.
Bonk (BONK)
Bonk, the original meme coin of the Solana blockchain, is another cryptocurrency expected to experience significant growth in 2024. This dog-themed token gained attention when it was discovered that each Solana Saga phone contained approximately $10 worth of Bonk. This created an arbitrage opportunity, driving up Bonk’s price and leading to the smartphones selling out. While its price has calmed down recently, Bonk recorded positive performance in the last 30 days, with an 8.98% surge. However, it experienced a slight drop of 4.34% in the last 24 hours.
Furthermore, Bonk is likely to receive a boost with the upcoming release of a new smartphone by the Solana mobile team.
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