Memecoins
Best Coins to Add to Your Watchlist in August
The ever-evolving meme coin sector could deliver surprises at any moment, with newly launched tokens seeing potentially large gains or established tokens making waves due to impressive achievements.
In the following lines, we will discuss five of these assets that could take center stage over the next 30 days and explain why.
Dogecoin (DOGE)
The OG meme remains one of the most intriguing topics for industry players. It has a strong community of dedicated members, while a prominent supporter of the asset is Tesla CEO Elon Musk.
His comments on DOGE have often been followed by a significant spike in the token’s price, and it will be interesting to see if he addresses the topic again throughout August.
Many analysts have predicted that Dogecoin is preparing to reach a new all-time high. X user Ali Martinez, for example, argued that the asset’s price consolidated in a descending triangle in 2016 and 2021, followed by a massive bull run later.
He believes that the situation is quite similar today, and expects a significant increase in the near future. Furthermore, the analyst admitted that he has been accumulating more DOGE lately, without selling a single coin.
JAVON MARKS was also optimistic, forecast an ATH based on previous price breakouts. His prediction, however, calls for a price of $10, which seems beyond the bounds of reason, at least given current market conditions.
Shiba Inu (SHIB)
The second-largest meme coin, with a current market cap of around $9.3 billion (according to data from CoinGecko), is also worth watching this month.
Its upside potential depends on several factors, such as favorable market conditions and further advancements in the Shibarium layer-2 blockchain solution.
The protocol was launched last August and aims to elevate SHIB above its rivals in the meme coin niche by improving scalability, reducing transaction costs, and improving speed.
Not long ago, he completed another milestone with the number of blocks processed surpassing 6 million. For more updates on the ecosystem, be sure to check out our Shibarium News.
PolitiFi Memes
Meme coins linked to leading US presidential candidates Donald Trump and Kamala Harris should also be put on their watch list.
MAGA (TRUMP) typically experiences significant volatility whenever there are major developments surrounding the Republican Party candidate. For example, the price of the token heading north shortly after the failed assassination attempt on Trump in mid-July.
KAMA – a meme coin linked to Kamala Harris – hit an all-time high of nearly $0.04 on July 24 after Biden withdrew from the presidential race and was nominated as the Democratic nominee.
It can be safely assumed that potential developments in the candidates’ campaigns over the next 30 days could trigger additional price fluctuations for the aforementioned assets.