Memecoins
3 Meme Coins for Sale in May Before They Crash and Burn
Source: Shutterstock.com/ChrisStock82
The long awaited Bitcoin (BTC-USD) the halving did not meet the expectations of many memecoin holders. Instead of a multiple rise, the crypto market experienced a more or less profound decline. The market capitalization of tokens in the “Meme” category has fallen and is now around $56 billion brand. With the total market capitalization remaining relatively unchanged, this indicates an outflow of funds. The loss of support levels is leading investors to already make a list of meme coins to sell. They realize that it is not worth staying in a loss-making asset just because they were previously making money using that token.
Amid a market-wide correction and FUD growth, the balance of risks and possible rewards shifts. During the bull market, meme coins managed to gain value and become more massive players. If the flow of capital from a certain group of coins even to projects with a more developed technological base is confirmed, these coins will find themselves in crisis.
Meme Coins for sale: ApeCoin (APE-USD)
Source: Munissima / Shutterstock
The NFT project Bored Ape Yacht Club (BAYC) took advantage of the general enthusiasm around meme culture and presented its ApeCoin token (APE-USD). It was useful for the development of the ecosystem and provided a voice in decision-making on controversial BAYC issues. One of the most famous NFT collections promoted the integration of APE into payments for non-fungible tokens and related services. BAYC’s influence led to the token’s growing popularity in the first months of its existence and attracted investors looking to capitalize on the latest trends in the cryptocurrency market. At its peak, the EPA broke the $20 brand, but this rep even parts for sale couldn’t stay on top $10.
Anyone can influence the further development of the project because ApeCoin is the equivalent of a share in the management of BAYC. Despite this utility, the token has fallen victim to the fluidity of the crypto community’s preferences. A fall nearby $1 followed the rise of the APE. The decline is the result of an internal struggle within the Bored Ape Yacht Club ecosystem and several external factors.
The reduced use of APE for settlement payments reflects the market-wide trend of declining investor interest in NFTs. The cooling of the market for these digital assets has resulted in a slow downward trend in the price chart over the past. two years. Changes in regulatory control do not predict an imminent ApeCoin boom, so $1.31 per token is not a “soft” price.
Shiba Inu (SHIB-USD)
Source: Maria Shipakina / Shutterstock.com
Dog-themed meme coins have proven to be valuable assets that can add a few zeros to the wealth of crypto enthusiasts. Shiba Inu (SHIB-USD) began to circulate between wallets as an analogue of Dogecoin (DOGE-USD). However, this token quickly gained attention due to its charismatic branding and social media discussions. The growth of the community and the involvement of participants have contributed to the formation of a multi-billion dollar market capitalization. However, a repetition of result 2021 This seems unlikely, even in the current bull market.
March 2024 brings SHIB trading to life, but the trend of 2021-2023 is always reflected in the token’s capitalization table. Its wave-like shape highlights the high volatility of the digital asset, and the falling peaks of these waves suggest adding the token to the list of meme coins for sale. Despite its skyrocketing market capitalization, SHIB cannot boast of stable growth and resistance to market changes.
Along with the decline in interest in dog coins, the position of the Shiba Inu may be shaken, as the project only offers a limited number of benefits to users. The speculative nature of this digital asset has allowed the price to increase rapidly during hype cycles, as was in September-October 2021 and February-March 2024. However, the situation now seems closer to that of the period end of 2021 – beginning of 2022when investors were tearing their hair out, watching prices fall from $0.000079 to $0.000008.
Bonk (BONK-USD)
Source: Rebeca VS / Shutterstock.com
Bonk (BONK-USD) emerged during the period of negative market sentiment following the FTX crash. The 2022 airdrop distributed half of the token supply among Solana ecosystem participants. Such a generous gesture during the crypto winter laid the foundation for the rapid rise of the project, but it did not guarantee sustainable and continued growth of the token. Double price drops within a few days are the norm for this asset.
Like much of the meme coins for sale, Bonk has limited real-world application. Despite efforts to increase utility, BONK’s primary use is for speculative trading and community engagement. Support from social media participants dictates the token’s next price levels. At the same time, the craze around dog tokens won’t last forever, because the story becomes less interesting if told over and over again without improvements or additions. The project was limited to additional tools to increase the price in an era of increased competition between meme coins. Without innovations and expanded means to involve the community, it will not resist pressure from other actors.
The “Coinbase effect” allowed the project to reach its peak in December 2023and the overall uptrend pushed Bonk to his absolute record (ATH) in March 2024. However, a shift towards bearish sentiment would mean that BONK would fall to its lowest support level. Such a critical test for the bulls could be fatal for token holders.
On the date of publication, Julia Magas did not hold (neither directly nor indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.
Julia Magas is a writer who covers the latest trends in finance and technology. His work is published in a number of financial media outlets such as Nasdaq, Cointelegraph, Investing, SeekingAlpha, FXEmpire and Beincrypto. It mainly covers cryptocurrency and blockchain technology with a focus on market performance, innovations and trends.