It has been a bounce-back few days for the crypto market as we see it drag itself out of the bearish conditions, which did not last for long. The market correction has stopped, and we are seeing some of the big hitters like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) bounce back.
All of them are getting back close to the highs they had set during the bullish runs but it may be some other meme coins that are going to steal the spotlight. 2024 has been a banner year for the meme coin sector and there are some new projects now we think investors have to be buying before they pump. They are as follows:
- Dogecoin20 (DOGE20)
- Slothana (SLOTH)
- SpongeV2 ($SPONGEV2)
- Book Of Meme (BOME)
Let’s get into the properties each project has that make them likely big gainers in the future.
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Dogecoin20- The successor to Dogecoin just sold out in record time
Dogecoin20 (DOGE20) has broken all sorts of records for a meme coin after it raised $10 million and sold out in less than two weeks. We had already tipped up the new project as a potential successor to Dogecoin (DOGE) and have so far been backed up by market sentiment. While it is still ambitious to forecast it could become the number one meme coin we think it’s within reach.
We are making this prediction not just because we like Dogecoin20 as a project but also because it is our belief that Dogecoin may be coming back to the pack, and there will be room for a new project to steal the crown as king of the meme coins. Dogecoin has performed significantly poorer than its competition over the last year, and we think this is no coincidence.
Dogecoin20 has gone for a proof-of-stake model over Dogecoin’s proof-of-work. The latter is the same model Bitcoin uses and we all know the criticism that the mining process has come under. What readers might not know is Dogecoin also has an energy problem, as it uses the same amount of electricity as the entire country of Malta annually. A problem the proof-of-stake Dogecoin20 model will not have.
The other more obvious benefit is staking. Investors will have noticed that almost every new altcoin that has popped up in the last 6 months has included staking as an important part of the ecosystem. Not only do investors get to make more crypto with these coins but the project itself also gets an extra layer of security that comes with investors holding onto tokens.
Slothana- Solana’s next millionaire coin has just arrived
We mentioned above how the price of Solana has been pumping lately, and a lot of that has to do with how successful its meme coin market has been in recent times. They are now pumping out coins at a very fast rate, and all of them are having success. The latest is Slothana (SLOTH) and it may be the next millionaire meme coin from the network.
The meme coin is hoping its virality as a sloth who is bored of its 9-5 will be a big hit with investors. He also promises to stop ‘getting high on herb‘ and instead focus on profits which will be music to the ears of meme coin enthusiasts. Given the success of other meme coins from the network like this, we can see big potential in Slothana.
After just two days, the presale has already raised over $650k, as clearly investors like what they see. There are also rumors that the creators of other Solana meme coins, Bonk Coin (BONK) and Smog Token (SMOG) are involved with this project. Another reason to believe in its future success.
Sponge V2- An innovative project that uses previous success to help its new coin
If we are looking at meme coins that could steal the spotlight from some of the main altcoins, a good place to look is a project that has already done that in 2023. Sponge V2 ($SPONGEV2) is the second version from the meme coin project that also bought you Sponge Token ($SPONGE) last year.
For those that don’t remember, Sponge Token was launched in the wake of the Pepe Coin (PEPE) explosion. However, by then, the meme coin market had cooled off again, and conditions were bearish. Despite this, Sponge Token still pumped by hundreds of percent and grew a huge online following. It helped get us to the meme coin market we have today.
Now we have Sponge V2, the second coin from the ecosystem. However, this isn’t going to be a stand-alone token. Instead, the people behind the project have found an innovative way to ensure that they do not forget about Sponge Token while also helping Sponge V2 build on its success. The way they do this is through a stake-to-bride system.
How it works is investors that wish to purchase $SPONGEV2 must first purchase and also stake $SPONGE. When they do so an equivalent amount of $SPONGEV2 is also bought for them. Once the total allocation of Sponge Token is sold out, investors will be able to claim their Sponge V2 tokens along with the staking rewards they have built up.
Book of Meme- One of Solana’s starts over the last couple of weeks
During the Slothana analysis, we discussed how strong the Solana network had been when it came to its meme coins. One of the best performers over the last period, even during the bearish period, has been Book Of Meme (BOME). Since its launch two weeks ago, it has pumped by over $1300 percent.
While this isn’t a buy-low option exactly, the coin has cooled off a little but it may be gearing up for another pump during the next bull run. One positive indication of this is the whale activity surrounding the coin. One Whale added 28 million $BOME tokens this week which would indicate a strong run is just around the corner.
Conclusion
While the big hitters at the top of the market have been regaining some of their losses caused by the bearish period they may not be the best investment options right now. That is because coins like Dogecoin20, Slothana, and Sponge V2 have lower prices and market caps, meaning they are better placed for explosive gains.
