DOGE

3 Tokens You Should Be Buying on the Memecoin Mania Cool-Off 

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In early 2024, most meme coins rose to unprecedented heights. The record-breaking values of Bitcoin (BTC-USD) opened the eyes of ardent opponents of cryptocurrencies. However, after the ETF euphoria faded, most tokens showed a correction. Following the March highs, the crypto community saw a drawdown that reached x3 and x5. The depth of the correction depended on many factors, but it primarily affected young projects that grew rapidly in the bull market. These include meme coins, as they have proven to be an asset with the potential to increase several times in a few days. Among them, it makes sense to choose the next group of cryptos to buy a high-margin asset.

The U.S. Consumer Price Index (CPI) rose less than consensus forecasts in April. This information contributed to the reversal of bearish trends. The shocking news in 1 day led to a 7.5% rise in the main cryptocurrency and other blockchain assets are already following suit. Statistics on spot bitcoin ETFs also had a positive impact on trader sentiment. The net increase of more than $150 million stands out significantly against the decline in volumes of the past weeks. The Fear and Greed Index responded with a rise and is now at 70 (greed). All of the above suggests that market sentiment is changing. By entering a position in meme coins, investors are claiming the greatest benefits from the recovery that has begun.

KangaMoon (KANG-USD)

CBDC crypto: a person touching the center of a virtual monitor displaying several currency symbols linking to a central bank

Source: Dilok Klaisataporn / Shutterstock

The young DeFi project relies on more than just hype, representing a new concept. The combination of Social-Fi and Play-to-Earn (P2E) makes KangaMoon (KANG-USD) stand out among the meme coins that have gained popularity due to the preference of speculators. The token has set out to transform the crypto sector without losing the shine and appeal that the community loves so much. 

Crypto enthusiasts have appreciated the project’s gamified approach, which includes a series of tasks and challenges. They are designed to improve the gaming experience and build a sense of community among participants. Weekly and monthly challenges stabilize the mechanics and give members an equal opportunity to win prizes. The project’s NFTs and coins are a reward and incentive to continue playing, which is the basis for KANG’s long-term success. 

The token’s pre-sale showed how successful this strategy is, raising more than $6.5 million. The initial price of KANG at $0.005 quickly hit $0.025. Initiative buyers witnessed a 5x growth, but general market trends put pressure on the coin. KangaMoon experienced a drop, but the impending listing on the first tier exchanges establishes it on the list of cryptos to buy before the next round of growth begins.

The partnership with RaidShardBot and the formation of a monthly reward fund for players (up to $1,000) lay the groundwork for KANG to become a meme coin leader. KangaMoon plans to launch a meta-platform with augmented reality functionality in the next steps. Such ambitious plans serve as a basis for analysts’ forecasts, who are preparing for the price hike to $0.5 after listing on the first tier exchanges.

Cat in a dogs world (MEW-USD)

A shiba inu puppy and a tabby cat are sitting next to each other on the floor.

Source: Iness_la_luz / Shutterstock.com

The blockchain community has heard much about dog-themed meme coins, but now a new representative of “furry” tokens is taking the podium. Since March of this year, cat in a dogs world (MEW-USD) has been carving out its own niche with the white cat mascot and playful branding. The fresh and interesting option has proven attractive to traders and investors. Strategic burning and targeted airdrops helped solidify this token on the Solana network. The coin is now positioning itself as a leader among cat-themed crypto assets.

The days after the launch of MEW showed its potential for rapid growth, as a sharp jump in trading activity accompanied the initial price increase. At its peak, MEW cost $0.01. Even in times of bearish sentiment, cat in a dogs world did not fall significantly, as other meme coins have shown. Now, the price is $0.003, and the market capitalization is ready to break through the $300 million mark. The coin is waiting to return to a valuation above $800 million. Until that moment arrives, savvy investors are choosing MEW among other cryptos to buy a valuable asset with a tenfold growth prospect.

The 61,000 X followers are proof of MEW’s commitment to staying in constant contact with its community. Listing on exchanges such as MEXC, KuCoin, Gate.io and HTX has simplified access to transactions with this valuable asset and increased its recognition in the crypto community. After achieving such results in 2 months, cat in a dog world is ready to take a position higher than the top 200 cryptocurrencies.

Dogecoin (DOGE-USD)

An image of Dogecoin (DODGE) coins on a stock chart

Source: Pixabay

The rise of cryptocurrencies often begins with strengthening Bitcoin (BTC-USD), the first and most powerful among blockchain assets. The same can be said for Dogecoin (DOGE-USD) regarding meme coins. Since 2013, the open-source project has been an oasis for crypto enthusiasts. This community differs significantly from typical speculators, as its extremely active members promote the project in all possible ways, from sponsoring charitable initiatives to organizing social media campaigns.

Dogecoin repays the community’s commitment by developing the ecosystem, paying mining fees, and offering low transaction fees. While you can hardly use typical meme cryptos to buy anything outside of standard trading operations, DOGE is a means of payment for video games (GameStop), gift cards (Keys4Coins) and even electric cars (Tesla).

The project’s inflationary nature plays into the project’s hands, making DOGE more available and faster to use. The dynamics of market capitalization confirm this, as the coin is among the top 10 with a value of $22.5 billion. Bull run 2024 meant an increase from $0.08 to $0.22 for Dogecoin, which seems incredible given the massiveness of the project. The token shows 116.53% growth for the year, but this is far from its real potential. The community’s activity is returning to $2 billion in daily transactions after a decline to $600 million. Therefore, the price increase to March figures may not be the limit, as market favor may send DOGE to the ATH ($0.73).

On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Julia Magas is a writer who covers the latest trends in finance and technology. Her work is published in a number of financial media outlets such as Nasdaq, Cointelegraph, Investing, SeekingAlpha, FXEmpire, and Beincrypto. She primarily covers cryptocurrency and blockchain technology with a focus on market performance, innovations and trends.

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