With the meme coin market among the highest gainers in the year, recent data from Lookonchain, the analytical tool that gives insights into blockchain transactions, revealed how a smart whale made $6.12M from Shiba Inu. According to the tweet, a smart whale withdrew 353.83B SHIB tokens worth $6.6M from Binance. As such, the whale now holds 838.87B SHIB tokens worth $15.5M, with his profit now $6.12M.
With meme coin season projected to resume soon, analysts have conducted a market study to determine the top meme coins that are set for another rally. Leading the chart is Angry Pepe Fork, which is trending with its unique conquer-to-earn model. Others on the list are Pepe, Shiba Inu, Dogecoin, and Floki. Let's see why these are the best meme coins to buy now.
Angry Pepe Fork – A Promising New Entrant in the Meme Coin Market
Angry Pepe Fork is a Solana-based meme coin poised to outshine other meme coins such as Floki, shiba and Dogecoin in 2024. Angry Pepe Fork stands out as a unique project with real-world utility through its "Conquer to Earn'' system. The project incentivizes members of its community to eliminate zombie meme coins causing havoc on the blockchain, rewarding participants with APORK tokens.
Angry Pepe Fork remains unique with its fixed total supply of 1.9 billion tokens, similar toBitcoin's 21 million cap, indicating a significant tendency for the price to perform well due to basic supply and demand principles. Angry Pepe Fork applies the scarcity strategy to attract demand and potentially increase APORK’s value over time.
Interestingly, APORK also offers staking options at various periods of 30, 60, and 90 days, allowing holders to lock their tokens to earn rewards. The longer the staking period, the higher the returns of every investor, offering flexibility and incentives for long-term investment. This staking mechanism not only encourages investors to keep their tokens for longer but also helps stabilize the token's market value by reducing the circulating supply.
At the current stage 1 of the presale, APORK is sold for $0.014. Within a few days, APORK has raised over $160,000, with projections to hit $250,000 by the end of the week. Such rapid fundraising not only showcases strong interest in the project but signals a strong confidence in the project. It is important to note that APORK smart contracts have been audited by an external reputable firm adding an extra layer of trust and security for investors.
Dogecoin’s Price Eyeing a retrace to the Old Winning Way
Dogecoin is based on the popular Internet meme and features a Shiba Inu on its logo. Its creators envisaged it as a fun, light-hearted cryptocurrency called “memecoin.” It is an open-source crypto created and forked from Litecoin in 2013. In the past, Elon Musk's support has aided Dogecoin’s price surge, with the meme coin hitting an ATH of $0.73 in May 2021.
Analysts remain optimistic about DOGE's prospect, because it is backed by its strong community and high transaction volume of over $600 million. Despite the downtrend in the crypto market, Dogecoin still maintains its position as one of the top meme coins with Dogecoin price slightly falling below $0.13. Dogecoin's market cap sits around $18 billion, ranking #8 on CoinMarketCap.
DOGE's blockchain is robust and built on a Proof of Work (PoW) algorithm similar to Bitcoin. However, unlike Bitcoin and APORK, DOGE has an unlimited supply designed to keep the coin in continuous circulation. Although the Dogecoin price has experienced ups and downs just like every other meme coin in the market, its popularity and widespread acceptance suggest it will continue to be a significant player in the crypto market.
Shiba Inu’s Burn Rate Explode above 500%
Shiba Inu is a decentralized, community-backed cryptocurrency trusted by millions across the world. Shiba Inu is an Ethereum-based meme coin that has grown to become one of the best meme coins that is now accepted as a form of payment. Shiba Inu in the past days, have witnessed positive activities even during the current bearish season on the crypto market.
Data from Shibburn shows that Shiba Inu’s burn rate has surged over 529.72% in the past few days, leaving everyone puzzled about how Shiba Inu’s price is going to react. Around 410.7 trillion SHIB tokens have been burned, reducing the initial circulation supply. With Shiba Inu'shigh supply, the continuous burning of these tokens will definitely impact the price positively.
According to CoinMarketCap, Shiba Inu’s price is still struggling to react to the above burning, with the meme coin price dropping below the crucial $0.000080 support level. Shiba Inu’smarket cap is also experiencing a downtrend and has dropped below $10.5B. Although the recent surge in the burn rate has in no way helped Shiba Inu’s price, it’s certain to impact the top meme coin's performance in the long term.
Pepe’s Investors Migrating to Angry Pepe Fork After Massive Price Decline
Pepe is created as a deflationary memecoin built on the Ethereum blockchain. Pepe coin witnessed its highest rallies in May 2024, with the top meme coin setting an ATH of $0.000017 on May 27, surging by over 100% in the time frame. Even though Pepe’s price did well in May, the story changed in the past weeks with Pepe's price struggling with the bear trend as investors' confidence depletes. CoinMarketCap data shows that Pepe's price has now declined by over 7% in the past 30 days.
Pepe’s market cap has also dropped to $4.7B, denoting over 4% downtrend in the past few weeks. Meanwhile, the project has also adopted a strategy employed by many top meme coins to create scarcity around its token. With its deflationary mechanism, which ensures constant token burn, Pepe’s price will potentially rally up again in the long run. This makes it one of the best meme coins to invest in for long-term gains.
Floki’s Price Continues To Struggle – Is a Resurgence Possible?
Floki (FLOKI) is among the best-performing meme coins in 2024, with Its price rallying over 60% in the YTD price metrics. However, in recent weeks, FLOKI has also experienced a drastic price decline, trading way below its all-time high.
However, technical indicators suggest future price increases, signaling a potential bullish pattern. Floki is backed by a strong community and institution, including a $12 million purchase by DWF Labs. Zooming in, Floki's market cap is still low at $1.6B, signaling that the token has potential for future rallies.
Meanwhile, the Floki price has declined by 15% in the past week, with the Floki trading volumeon a downtrend. Although the Floki market sentiment is bearish, analysts remain positive on its future prospects. A top crypto analyst, Jonathan Carter, predicts that if Floki's price can hold support around $0.000165, it could trigger massive rallies in the coming weeks. As such, Floki is one of the best meme coins to buy and HODL.
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