Historically, Bitcoin's halving has been a major catalyst for a price rally, as evidenced by the 2021 crypto bull market. Shiba Inu and Dogecoin's massive rally to an all-time high of $0.00008845 and $0.7376 in 2021, shortly after Bitcoin's halving in May 2020, are notable examples in the meme coin space.
If you missed the previous halving, another one is coming up in April this year. This article will highlight 5 top meme coins that could see massive gains after this year's halving event. Keep reading to see these meme coins.
KangaMoon (KANG)
KangaMoon (KANG) is a new meme coin project that seeks to change the narrative that most meme tokens have no utility. KangaMoon is revolutionizing the meme coin space by infusing its KANG token with genuine utility through the integration of Social-Fi elements.
On the KangaMoon platform, users are rewarded based on their participation and engagement in events and activities. The more active a user is on the platform, the greater the rewards they will earn. The platform aims to become the leading platform for the meme coin market.
In addition to its Social-Fi platform, the KangaMoon team has also announced the development of a play-to-earn game where players can use KANG tokens to enhance characters, purchase in-game assets, and more.
The game allows users to engage in combat, earn cryptocurrency, and even allows KANG holders to bet on outcomes and participate in periodic challenges for additional tokens and assets. These assets can then be traded on the KangaMoon marketplace. Individuals can start accumulating KANG tokens by participating in the presale and promoting the project on social media.
The infusion of utility into its ecosystem has made KANG one of the best new meme tokens to invest in. Currently, in the second stage of its presale, the token is priced at $0.0075, marking a 50% increase from its initial price.
Experts have predicted a potential 1,000% value increase upon Tier-1 CEX listing, making it one of the best meme coins to buy. Ranked as one of the best meme coins to invest in now, buyers are rewarded with a 15% buy bonus on every purchase they make in the ongoing presale.
Bonk (BONK)
BONK (BONK), which is a meme coin that is built on top of the Solana chain, is frequently perceived to be similar to popular meme coins like Dogecoin and Shiba Inu. The main goal it pursues is to restore confidence in the Solana community, resulting in increased interaction and broader interest in the Solana ecosystem.
In 2023, Bonk spiked up, rocketing over 10,000% and setting its ATH of $0.00003419 in December. The upswing of SOL was a continuation of the general market uptrend.
While the accelerated development of Bonk has reduced, its future is full of possibilities, and the coin is now in third place among meme coins based on market cap.
On top of building its ecosystem, Bonk implemented its own decentralized exchange (DEX) called BonkSwap in November 2023. On the BonkSwap, holders can lend liquidity and earn returns, therefore improving the use case and popularity of the Bonk ecosystem.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is one of the top meme coins that could see huge gains after Bitcoin's halving in April. The Ethereum-based meme coin rose to stardom in 2021 after its meteoric rise to $0.00008845, an event that surprised the crypto community.
Despite a significant 88% decline from its peak value, the Shiba Inu (SHIB) community maintains a positive outlook on its potential for recovery. Currently ranked as the 17th largest cryptocurrency by market capitalization, SHIB's prospects for future growth are buoyed by anticipatory factors such as the upcoming Bitcoin halving in 2024.
Shiba Inu witnessed several events in 2023, each contributing to fluctuations in its price. These events have kept the interest alive within the community, fostering hope for a rebound in the meme coin's value. The largest one was the release of the Shibarium network and the burning of 76,403,022,296 SHIB tokens.
This year, the Shiba Inu team is working on using the Shibarium network to conduct automatic burning of SHIB tokens. The aim is to reduce the total supply of Shiba Inu. This automatic burning and other developments on the Shiba Inu network set the token for massive gains after Bitcoin's halving.
Dogecoin (DOGE)
The value of popular meme coin Dogecoin (DOGE) peaked in 2021 at $0.7376. Dogecoin has advanced significantly in 2024 even though it hasn't reached its previous zenith. One of its many achievements has been sending a tangible Dogecoin token to the moon. In addition, Dogecoin's price has been rising despite persistent bear attacks.
Dogecoin increased from a monthly low of $0.0775 to a peak of $0.0912, according to data from CoinMarketCap. Dogecoin is still one of the top 15 cryptocurrencies in the mark, despite the fact that other tokens have overtaken the market leader.
Dogecoin's technical indicators are currently bullish, making it one of the best meme coins to buy in 2024. Firstly, the Dogecoin price is above the 50-day SMA ($0.080480) and 200-day SMA ($0.075813).
Also, Dogecoin's 14-day RSI is above the 50 mark. These technical indicators signal that bulls are in charge.
Pepe (PEPE)
PEPE coin was the star of the show after its launch on the Ethereum blockchain in April 2023, which marked the beginning of the token's exponential growth in popularity. The altcoin skyrocketed in price within a short span of time to reach a valuation of over $1 billion, which made it one of the most traded cryptocurrencies. This made PEPE one of the top meme coins to invest in.
Pepe surprisingly managed to break into the top 100 cryptocurrencies by market cap within two weeks of its launch, although the existence of the mentioned backing was doubtful. While it has been under bearish pressure in the past couple of months, it is the fourth-largest meme coin presently.
A primary attribute of Pepe that causes it to be on top of this list following the Bitcoin halving is that it features a deflationary mechanism. Freezing a part of the tokens with each transaction is a deflationary feature. This will lead to a decrease in circulation, and it will cause an increase in the value of coins.
Moreover, Pepe has a redistributing system giving away some of the amount every transaction is made to the present token holders. This plan is proposed to raise user interaction level and lead to the coin being invested in for as long as possible.
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