The post The 5 Meme Coins Catching the Attention of Smart Investors appeared first on Coinpedia Fintech News
Historically, meme coins have been among the best cryptocurrencies to invest in during bull markets. In 2021, the likes of Dogecoin and Shiba Inu outperformed the broader crypto market.
Analysts have agreed on the beginning of a new bull market. As a result, many investors have turned again to meme coins. In this article, we will find out why Dogecoin, Shiba Inu, Floki, Bonk, and Galaxy Fox ($GFOX) have caught the attention of smart investors.
Dogecoin ($DOGE) Could See a Massive Breakout
In previous bull markets, Dogecoin experienced remarkable price surges. And, as the leading meme coin, it is bound to experience a major rally in the new bull market. Although the price of Dogecoin has struggled so far in 2023, top analyst, Ali Martinez, has projected a potential outbreak for the meme coin.
Already, $DOGE is seeing increased whale activity as reported by Santinent. This shows that smart investors expect a major price surge from Dogecoin. If $DOGE breaks above the $0.0786 resistance mark, it could rally to the $0.0850 target. For the bull market, some analysts have forecasted an all-time high of $1 for the leading meme coin.
Shiba Inu’s Development Activity To Fuel Bull Run
In 2023, Shiba Inu led the development activity among meme coins. The project has launched a layer 2 network (Shibarium), AI products, and an identity network. These developments will culminate in Shiba Inu becoming a blockchain ecosystem filled with utility.
These developments have attracted investors from all corners of the crypto market. With more products set to be added to the Shiba Inu network, analysts have predicted more price gains for SHIB. Crypto analyst, Captain Faibik, has already projected a 2x rally for $SHIB by mid-December, making Shiba Inu one of the best cryptocurrencies to invest in.
Floki ($FLOKI) Gets Bullish Rating As Staking Picks Up Momentum
Floki Inu has been one of the best cryptocurrency investments in 2023. Year-to-date, the meme coin has gained more than 350%, more than Bitcoin and Ethereum. According to analysts, this impressive price performance of $FLOKI could continue.
In October, Floki launched a staking reward program for its community. The program has begun gaining attention. The 30-day MVRV has already increased to 96%, meaning smart investors who bought last month are in a 96% profit. Analysts at FXStreet have even projected a short-term price increase of up to 70% for $FLOKI.
Bonk Outperforms Top Meme Coins
Bonk has been the dark horse of the meme coin sector. On the monthly chart, the meme coin has notched gains of more than 1,300%. According to market analysts, the price of $BONK has been rising in tandem with Solana, which has gained more than other altcoins.
Bonk is a dog-themed meme coin on the Solana network. The meme coin has also formed a golden cross on its daily chart. This bullish formation could see the price of $BONK continue increasing. While Bonk has already notched substantial gains it could still be one of the best crypto to invest in today.
Galaxy Fox ($GFOX) Set for Massive Surge in the Bull Market
Galaxy Fox ($GFOX) has emerged as a potential replacement for Shiba Inu and Dogecoin because it solves the major problem of lack of utility. The project has incorporated a play-to-earn gaming ecosystem into its meme coin token. The ecosystem is built around a fun-packed web3 runner game where players will become intergalactic foxes.
The game is designed to be exciting, with characters being unique to their holders. Players will compete against others in different events across various galaxies within the virtual world. Rewards will be handed to top players within the top 20% on the intergalactic leaderboard.
As a hybrid of both worlds, analysts have predicted even more gains for $GFOX than other meme coins. In the bull market, Galaxy Fox could increase by up to 50x, outperforming the crypto market and becoming one of the best ICOs to date. Currently, in the early stages of its crypto presale, $GFOX is available at only $0.00066 per token.
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