This remarkable growth during the current bull cycle, with Pepe and Floki in the spotlight, brings us to a crucial question after the recent fall: Which meme coin is the best crypto investment?
Floki’s Temporary Relapse
Floki’s unstoppable rise was recently interrupted by a sudden plunge of 13%, a move that is likely dwarfed by Bitcoin’s own performance swings. Despite Floki’s robust 800% growth in the last month, this dip illustrates meme coins’ direct connection and sensitivity to broader crypto market trends, especially the influence of fluctuations in Bitcoin’s value.
The pullback can be partly attributed to investors reacting to Bitcoin’s recent performance, leading to a chain reaction across the crypto market. As a dominant force in the crypto world, any significant movement in Bitcoin’s price could have a direct impact on the value of altcoins and meme coins like Floki.
This situation highlights Floki’s relationship with and dependence on general market trends, despite the unique position it has acquired through its innovative approaches such as token burning and the development of specific DeFi protocols. In addition to Floki, PEPE also took a dive today.
Pepe’s Challenge: Post-Dive Recovery
Pepe, as a leading figure in the world of meme coins, has profited noticeably from the rallies of Bitcoin and Ethereum. His deflationary nature has made Pepe a leading player in the meme crypto industry.
With more than $1.4 billion worth of Pepe tokens traded in the last 24 hours, it is now in the top 20 most traded cryptocurrencies. Trends on CoinMarketCap show that Pepe has experienced explosive growth since the start of 2024, with an increase of over 750% in the last month.
Starting at a price of $0.0000012 in January, Pepe’s price has skyrocketed significantly amid the recent meme coin wave, with a current trading price of $0.000008. This rise has created a dedicated community, with early investors seeing their investment grow potentially 7-fold.
Experts point to Pepe’s unique value proposition, which transformed many early investors into millionaires almost overnight. However, recently Pepe has experienced a 13% nosedive, a move that draws attention to the high volatility within the meme coin market.
Is the Meme Crypto Rally Over?
After the recent plunges of prominent meme coins such as Pepe and Floki, with a decline of 13% respectively, the question arises whether the revival of meme cryptocurrencies has come to an end. These developments have surprised investors and market analysts, given the prior unprecedented growth of these assets
However, this situation also offers an opportunity to broaden horizons and explore other meme coins with potential. Despite recent setbacks, interest in meme coins remains strong, driven by the communities that form around these currencies and the light-hearted, cultural value they represent.
Memecoins like DOGE20, SPONGE, and SMOG are attracting attention as potential candidates for the next rally, each with unique features and a dedicated following that can drive their value.
Dogecoin20 (DOGE20)
Yesterday the presale of Dogecoin20 was launched, a new token on the Ethereum network that offers more possibilities than the original Dogecoin. In just one day, the presale has already raised over $250,000, showing strong interest in the token. Dogecoin20 is now available for $0.00014 per token.
Where the original Dogecoin has its own blockchain, which is based on a fork of Bitcoin, Dogecoin20 was developed on the Ethereum blockchain. This makes it a lot more environmentally friendly, but it can also easily offer additional functions such as staking.
🚀 #DOGE20 isn’t just another Shiba Inu-inspired derivative.
Upholding Dogecoin’s ethos to Do Only Good Everyday, it offers passive rewards through on-chain staking. 🌱🌟
Embracing a greener, more sustainable future with the most widely loved #Memecoin in the world! 🐶 pic.twitter.com/zqlONodRPB
— Dogecoin20 (@DOGE_COIN20) March 14, 2024
In addition, it offers traders some extra flexibility because you can easily store it in your Ethereum wallet. From there you can trade it further against Ethereum or other ERC-20 tokens.
Finally, an important difference with the original Dogecoin is that there is no inflation. More and more Dogecoins are coming onto the market to reward miners, but this does not happen via Dogecoin20’s Staking system. There is a fixed total number of tokens that can never be deviated from.
Sponge V2 (SPONGEV2)
Sponge is a meme coin that was launched last year during the PEPE era and gave early investors a huge profit of up to x100. As interest in SPONGE waned, the team has decided to launch the new Sponge V2 (SPONGE) token, with more functionality and an emerging crypto play.
With the move to Sponge V2, it is now possible to stake the tokens with an APY of 174% and trade via Polygon (MATIC). Soon, the Sponge V2 team will launch its play-to-earn game, which will allow you to earn even more SPONGE based on your performance.
$SPONGE Army has arrived! 🧽💪$PEPE coming for you! 🐸⚔️ #SpongeV2 #MemeCoin #Altcoins pic.twitter.com/B0Kl2lXKwy
— $SPONGE (@spongeoneth) March 14, 2024
Sponge V2 is available from the official website and has increased in value more than 4x since launch. Since Sponge V2 has not yet reached $1 billion, the token still has room to rise further, especially after the launch of its crypto game, which could make the project viral.
Smog (SMOG)
Smog is an exciting new meme coin that plans to reward its community with what could be the largest airdrop in history. By holding Smog tokens and completing missions through the zealy.io platform, you can make the most of this airdrop.
A significant portion, namely 35%, of the total supply of Smog tokens is reserved for crypto airdrops, meaning more than 400 million tokens are being given away for free. Currently, these tokens are worth around $0.21 each, but they are expected to reach a new All Time High soon, possibly above $0.30.
Through the official website you can participate in the Smog airdrop and earn points by completing missions, resulting in more Smog tokens from the airdrop. You can buy $SMOG through the website itself and through the decentralized exchange, Jupiter. Get $SMOG on Solana for low trading fees or on Ethereum for staking, earning extra airdrop points and $SMOG.
Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.
Source: https://bitcoinmagazine.nl/nieuws/floki-pepe-duikvlucht-welke-meme-coin-is-top-investering
