The cryptocurrency markets have shown a renewed appetite for meme coins. Meme coins capitalizing on trendy internet humor and online communities have stoked epic rallies and parabolic price action during previous bull runs.
With digital asset prices recovering off 2022 lows, three meme coins—Dogecoin (DOGE), Shiba Inu (SHIB), and newcomer Dogwifhat (WIF)—look poised to ride the wave of potentially multiplying returns this cycle.
Also read: Shiba Inu (SHIB) Forecasted To Surge 540% & Hit New ATH: Here’s When
Shiba Inu
Dubbed the so-called “Dogecoin Killer,” Shiba Inu originally emerged as something of a parody token piggybacking off of DOGE’s meme coin status. But what began as a fun community token has turned into a powerful force with a multibillion dollar market cap and thriving ecosystem.
Between its aggressive moves into decentralized finance and the metaverse and a fanbase of SHIB believers, projects in development could enable Shiba Inu to move into Dogecoin’s first-mover dominance. Recent price action already suggests strong momentum, with SHIB vaulting over 350% in the last two weeks amidst Bitcoin’s resurgence.
Also read: Dogwifhat: How One Trader Missed Making $693 Million With WIF
Dogecoin
The original doggie-themed coin that started the meme mania remains beloved by long-term holders and still commands dominance across social channels. Thanks to vocal supporters like Elon Musk and Mark Cuban speaking in DOGE’s favor, the asset retains breakout potential every time markets look frothy.
While Dogecoin lacks the expansive ecosystem efforts seen from some newer meme counterparts, its entrenched brand power as a pioneer keeps its 10x upside chances barking as speculative juices start flowing again.
Also read: Cryptocurrency: Top 3 Coins To Buy Under $10 For Better Gains
Dogwifhat
If more proof was needed that animal coins capture investor interest, the newly launched Dogwifhat token has provided just that. Exploding over 690% already in 2024, the Solana meme coin has quickly vaulted into the top 100 crypto assets by market cap off the strength of its relentless rally.
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WIF checks numerous boxes for what cryptocurrency traders gravitate towards during frenzied peaks. With momentum still looking sharp and plenty of risks being shrugged off thus far, Dogwifhat looks ready to keep running this bull cycle.
Of course, meme coin investing comes rife with volatility risks, as evidenced by prolonged bear markets last year. But when greed overtakes fear across digital assets, few categories offer as much outrageous return potential as Shiba Inu and its canine peers.