Top 5 Meme Coins to Watch This Month
The meme coin sector rallied substantially in the past several months, with its market capitalization briefly surpassing $70 billion a few days back. Currently, the figure stands at around $64 billion following the latest correction.
According to CoinGecko, there are more than 2,300 meme coins, with some taking center stage due to their price swings as of late and other reasons. In the following lines, we will focus on five intriguing assets that may experience enhanced volatility in the next 30 days.
Dogecoin (DOGE)
The leading meme coin in terms of market cap has been at the forefront of gains lately, spiking by 17% in the past week.
One factor possibly contributing to its solid performance was Elon Musk’s interaction. Last week, Tesla’s CEO participated in Donald Trump’s rally at Madison Square Garden, urging people to vote for the Republican candidate in the upcoming US presidential elections (scheduled for November 5).
He reiterated his intention to lead a Department of Government Efficiency (DOGE) should Trump become president again. Last but not least, Musk posted an interesting photo of him on X. The top half of the image shows the billionaire flexing during the public speech, while the bottom half displays a muscular Shiba Inu breed (resembling DOGE’s logo) striking a similar pose.
The voting result will perhaps trigger additional price volatility for Dogecoin, considering Musk’s potential involvement. Tesla’s boss is known as a huge supporter of the OG meme coin, often praising its merits and expanding its popularity.
Shiba Inu (SHIB)
The second-biggest meme coin also performed quite well toward the end of October. However, it experienced a significant pullback in the past 24 hours, erasing much of the previous gains.
The resurgence of Shibaraium, the SHIB burning program, and other elements, though, suggest that the asset’s price may soon return to the green track. As CryptoPotato recently reported, daily transactions on the layer-2 blockchain solution are back in the millions, whereas the burn rate skyrocketed by a staggering 252,900% on a daily scale.
Continuous efforts in that field will leave fewer SHIB tokens in circulation, creating scarcity and potentially driving the price up (assuming demand remains the same or rises).
MAGA and KAMA
The Trump-related MAGA (TRUMP) and the Harris-themed Kamala Horris (KAMA) will likely pass through substantial turbulence this month.
It won’t be a surprise if the former soars in the event of a victory for the Republican candidate, while the latter may pump if the Democrat emerges victorious.
However, the meme coin sector is quite unpredictable, and we have yet to see the exact reaction of those particular tokens after the announcement of the final results.
POPCAT
The largest cat-themed meme coin – Popcat (POPCAT) – is among the best market performers this year. Its price hit an all-time high of almost $1.80 on October 29 and is currently worth $1.65 (representing a 23,500% increase since January 1).
Crypto X is full of analysts envisioning additional gains for the token in the near future. One enthusiast using the monicker “shah” thinks POPCAT “will lead the rest of the cute cat memes to Valhalla.”
That said, it will be interesting to see what November has to offer.
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