With the crypto market showing significant signs of recovery, meme coins could be the next to rally as momentum picks up. So here is a list of meme coins that could have potential when the next bull rally rolls around.
As always, Dogecoin (DOGE) remains at the forefront when the talk of meme coins comes up. This is because it is the first meme coin and the whole movement was built off Dogecoin’s success in the market. So it makes the list the first meme coin to always look at when investing.
One thing that makes DOGE interesting has been its ability to remain among the largest cryptocurrencies in the space. This cements it as a good contender in the market, and the possibility of the cryptocurrency reclaiming its previous $0.7 ATH is very high, which would be around a 1,000% increase since the meme coin is down almost 90% from its ATH.
DOGE remains the largest meme coin | Source: CoinGecko
Shiba Inu (SHIB)
Shiba Inu (SHIB) has trailed Dogecoin over the years and has found success because of it. Given its close proximity to the OG meme coin, it tends to rally when DOGE is on the rise, so if and when DOGE was to reclaim its ATH, there is no doubt that SHIB will not be far behind.
Like its rival DOGE, SHIB is also down almost 90% from its ATH. This means that another recovery to its October 28, 2021, all-time high of $0.00008 would mean a near 1,000% move as well.
The community behind Shiba Inu is also one of the largest in the space, which continues to prop up the value of the digital asset. It is also a purely hype-driven cryptocurrency. As such, it doesn’t take much to trigger a price rally for SHIB.
Floki Inu (FLOKI)
Floki Inu (FLOK) is a meme coin that has also proven itself over the last two years. Its community has grown across social media and the cryptocurrency has bagged multiple listings across centralized exchanges. This gives it more liquidity compared to coins which only exist on decentralized exchanges (DEXes).
FLOKI price holding at $0.000033 | Source: FLOKIUSDT on TradingView.com
FLOKI also moves with the market and a rally across top meme coins such as DOGE and SHIB can often trigger a rally for it as well. It is also one of the relatively safe meme coin options with positive trust scores on CoinGecko.
Investing In Meme Coins
An important thing to keep in mind when investing in meme coins is that they are even more volatile compared to their largest counterparts in the crypto market. While this volatility could mean quick gains, it also means the chances of losing money becomes higher. As such, it is important to be incredibly careful when engaging with these digital assets.