The cryptocurrency market has come down a little after a few days of gains. Its total cap stands at $2.08 trillion, representing a fall of 0.8% in the last 24 hours. Most major coins are down along with the market, including bitcoin (BTC), solana (SOL) and Avalanche (AVAX). However, for traders hoping for a bigger bounce when the market recovers, one option may be meme coins. These are generally more volatile and unpredictable than other cryptocurrencies, but they can provide larger payoffs. As such, here’s our pick of the 5 next meme coins to explode for 100x returns.
۵ Next Meme Coins to Explode for 100x Returns
۱. Dogecoin (DOGE)
DOGE is currently priced at $0.156227. This is a fall of 1.7% in the past 24 hours, although the coin is up by 9% in the past week. It’s also up by a modest 4% in the past month.
DOGE is a correcting a little bit after several days of recovery. Its relative strength index (in purple) is hovering around 50, indicating that it’s neither overbought nor oversold. Its 30-day moving average (in red) is also sinking close to its 200-day (in blue). However, it seems to have stopped its descent in the past few hours, so it could be on the cusp of another rebound.
Either way, DOGE is always a good bet as far as meme coins go. It has one of the strongest communities in crypto, with its Reddit page now counting some 2.3 million subscribers.
DOGE is also worth watching simply because of the fact that Tesla and Elon Musk continue to champion it. Indeed, last month, Tesla began accepting payment in DOGE for some of its merchandise.
You can now purchase select items on Tesla Shop in Dogecoin…exclusively in Dogecoin!https://t.co/I4jSgwJZ5O
— Taylor Robinette (@twrobinette) January 14, 2022
And with DOGE even witnessing some institutional investment last year, there’s every chance it could rally strongly this year. That’s why it’s one of our 5 next meme coins to explode.
۲. Shiba Inu (SHIB)
At $0.00003144, SHIB is down by 4.5%. However, it’s up by an impressive 44% in the past week.
SHIB has enjoyed a very strong recovery in the past week. That said, it remains 63.8% down on its all-time high of $0.00008616, so there’s the potential for it to rise even higher in the coming weeks.
As with DOGE, SHIB has a legion of loyal followers and boosters. Its Reddit page now counts around 465,000 subscribers, while its Twitter account also has 2.7 million followers.
It also continues to grow, with Shiba Inu only just announcing its very own metaverse. Dubbed the Shibverse, details remain sketchy at the moment, but it will involve virtual land and real estate. So expect demand for SHIB to increase following its launch.
New Blog: A METAVERSE Story that begins… with an update!
🏡 Introducing Lands, a queue system, and more!
🦮 $LEASH holders will be the first to gain access to Shiba Inu Metaverse Lands.
Read more… https://t.co/S758ClAbRC
— Shib (@Shibtoken) February 8, 2022
On top of this, SHIB also benefits from occasional endorsements and positive pieces of news. For instance, retailer Newegg announced at the end of November that it would be accepting payment in SHIB from early December onwards.
— Newegg (@Newegg) November 30, 2021
۳. Cake Monster (MONSTA)
The recently launched MONSTA appears to be skyrocketing right now. At $0.00576618, it’s up by 10% in the past 24 hours. It’s also up by 91% in the past week and by 123% in the past fortnight.
MONSTA is down by 83% compared to its record high of $0.03442554, set back in October. It therefore has plenty of space to bounce.
Ranked 758th by CoinGecko in terms of market cap, MONSTA is tradable on PancakeSwap. It’s a DeFi meme coins that, running on Binance Smart Chain, is designed to be deflationary. With a fixed starting supply of 10 billion MONSTA, it does this by burning 2.5% of every transaction it processes, while an additional 2.5% (of the same transaction) is taxed. The tax is used to acquire liquidity (in the form of CAKE), which is then locked by Cake Monster’s protocol, and periodically distributed to holders.
۴. Spell Token (SPELL)
SPELL is down by 1% in the past 24 hours, to $0.00729136. It’s up by 6.5% in the past week, but down by 51% in the past month.
SPELL is down by $0.03506357 compared to its ATH of 79%, recorded back in early November. In theory, this indicates that it’s another meme coin with plenty of lost ground to regain.
There’s a good chance that SPELL could indeed regain this lost ground, and then some. It’s the governance token for the Ethereum-based Abracadabra.money DeFi platform. Users of this platform coin stake collateral in order to mint magic internet money (MIM), a stablecoin pegged to USD. Staking SPELL itself allows users to mint eSpell, which provides governance privileges and other rewards.
It’s because of its ‘magic-themed’ native platform that SPELL is classed as a meme coin. However, Abracadabra currently boasts a total value locked in of over $6 billion, up from $1.1 billion at the start of October. So it’s already made some serious progress, which is why SPELL is one of our 5 next meme coins to explode.
The total value locked across all of our lending markets has just surpassed $6B for the first time!🔥🔮
— 🧙🏼♂️ (@MIM_Spell) December 23, 2021
۵. CorgiCoin (CORGI)
It may be ranked as low as 1,934th, but for any PancakeSwap users who like taking risks, CORGI may be a way to go. It’s up by 127% in the past 24 hours, at $0.00022243. This represents a 244% rise in the past week.
Launched back in June of last year, CORGI remains down by 88% compared to its record high of $0.00193225, set in October. It has risen by 13% in the last hour alone, so appears to be in the process of a rally.
Based on Binance Smart Chain, CorgiCoin bills itself as the DOGE of BSC. That said, it claims to be superior to DOGE, insofar as it has 10x fewer coins (a fixed supply of 10 billion tokens). It also boasts that it’s 100% community-owned, in the sense that all of its supply has been locked into PancakeSwap, with no inner team of developers or founders controlling a large tranche of its supply.
Of course, given that it’s listed only on PancakeSwap, its low liquidity makes it volatile. But it is currently the best-performing meme token right now, which is why we’ve added it to our 5 next meme coins to explode.
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