Memecoins provide an excellent litmus test for market sentiment. These risk-on assets produce returns unlike anything in TradFi or other markets when they get moving. The rush of institutional investors into crypto has confirmed a mass influx of liquidity over the coming years flipping market sentiment bullish and increasing the value proposition of DeFi companies across the space.
Investors who want to leverage the approaching cycle to seriously change their financial situation need to be accumulating now! Memecoins produce outlandish returns and, in the current climate, present the best type of altcoins to watch. Don’t forget to add these 3 memecoins to your portfolio!
DigiToads (TOADS) Memecoin Meets Utility
DigiToads (TOADS) takes first place, and this innovative memecoin takes all the best elements from the memecoin genre, notably their virality and explosive price potential. DigiToads combines these properties with a strong tokenomics model and end utility for users to create one of the best ERC20 coins on the market.
DigiToads has already raised an astonishing $5.7 million in its presale, and with analysts forecasting a further 800% surge before the presale closes, the window of maximum returns slowly closes. Investors need to act fast.
DigiToads integrates passive income into all protocol elements, and each part feeds value back to the greater whole and TOADS holders. It includes a native DEX, an educational platform, Toad Cade, a play-to-earn game where players battle toads to compete for the seasonal prize pool, airdrops, NFT staking, and even charity initiatives.
DigiToads has learned from other memecoin and seen the runaway success of deflationary tokenomics models hence its implementation of one of the most radical burning campaigns in DeFi. Users entering and leaving The Swamp (the DigiToads ecosystem) must pay a Toad Tax that the protocol leverages on behalf of holders. The protocol burns 2% of every transaction, meaning a drastic reduction in the total supply of TOADS. With a rapidly declining supply of TOADS on the market, the price will only go in one direction, up.
Shiba Inu (SHIB) Transitions Toward Utility
Shiba Inu (SHIB), despite its large market cap (an undesirable quality for memecoins), has earned a spot on this list due to its progression toward utility. The salient example within the Shiba Inu (SHIB) ecosystem is Shibarium, a layer two chain. But other examples include ShibaSwap (a native DEX), its foray into the Metaverse, and Shiboshis (an NFT collection).
The core development for Shiba Inu (SHIB) has been the introduction of using $BONE, an ecosystem token, to pay gas fees on Shibarium. This gives the ecosystem a natural source of buy pressure outside of speculation and is why analysts have forecast an optimistic range for $SHIB between $0.00001336 and $0.00001688 in 2024.
Pepe (PEPE) Underwater Thesis
Pepe (PEPE) is a full-bodied memecoin with no utility outside speculation. It rapidly rallied throughout April to May this year before drastically retracing. So why is it included on this list? Tokens like $PEPE can rally in risk-on environments, and it has a few advantages over other projects such as Dogecoin (DOGE).
Pepe (PEPE) has fewer investors holding at a loss, meaning less sell pressure as it rallies, allowing for more consistent movement upwards. It has a lower market cap than $DOGE, and the token remains more appealing to investors simply because it is newer.
Analysts forecast $PEPE trading in a band between $0.00000278 and $0.00000328 in 2024.
Closing Thoughts: Smaller Market Caps Means More Upside
When it comes to the top altcoins for the next cycle, utility will prevail over speculation, especially with institutional investors who want to see product market fit. For this reason, $TOADS and $SHIB present ideal portfolio additions. But the core factor for memecoin success when considering ROI potential is market cap. A smaller market cap means more upside. DigiToads has the smallest market cap and the greatest utility, making it the most attractive offering of the three. Forget searching for the best altcoins; participate in the TOADS presale today!
Visit DigiToads Presale
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