Memecoins
Here are the 10 Best Meme Coins to Watch Out for in May
This article highlights ten recommended meme coins to watch in May, as the market anticipates bullish relief after the recent widespread bloodshed.
While April was already a difficult month for altcoins, May started with a significant bearish tone, forcing them to hit new lows. Meme coins are expected to have taken a bigger hit than the broader altcoin landscape.
However, leading market observers believe that the market recovery is imminent. They argue that the fall of Bitcoin $56,000 signals the end of a two-month downturn.
As a result, the crypto community is confident in the potential of meme coins to once again lead the market’s bullish narrative during the altcoin’s comeback. Widely followed X account @SharkyCoins recently highlighted ten meme coins that crypto enthusiasts should keep a close eye on as the expected market rally unfolds this month.
Top 10 memecoins to watch in May (by market cap):
1. $DOGE ($18.3 billion)
2. $SHIB ($12.9 billion)
3. $PEPE ($2.8 billion)
4. $WIF ($2.5 billion)
5. $BONK ($1.5 billion)
6. $MEW ($340.5 million)
7. $MYRO ($135.3 million)
8. $WEN ($130.4 million)
9. $MANÉKI ($113.2 million)
ten. $DUKO ($22 million)
Are there others?👇– Sharky 🐬 #Altcoin #crypto HUNTER (@SharkyCoins) May 2, 2024
Dogecoin and Shiba Inu
Dogecoin (DOGE) tops the list with its market valuation of $18.4 billion. At press time, DOGE is trading at $0.1282, with a 4% gain in the last 24 hours. The leading meme coin is currently 15% lower than the price it was trading at seven days ago, and it has seen a larger decline of 30% over the past month.
This suggests that its market value of $0.1282 constitutes a considerable buying opportunity, regardless of the 4% gain over 24 hours.
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Likewise, Dogecoin’s closest competitor Shiba Inu (SHIB) saw a 5% 24-hour rise with its current value of $0.00002213. However, SHIB was trading in the $0.00003 range a month ago, reflecting a 16% loss over the past 30 days.
Historical data suggests that the Shiba Inu profitability rate in May over the last three years is 90%, which implies that May 2024 could be favorable for investors. However, it should be noted that the high profit score was influenced by the Shiba Inu’s extraordinary performance in May 2021.
PEPE, WIF, BONK
PEPE, Dog Hat (WIF), and BONK were among the most prominent meme coins that led the bull market frenzy during the first quarter of the year. For example, a report pointed out that WIF has seen a staggering 2,721% gain since the start of the quarter.
The gains recorded by PEPE, WIF and BONK earlier this year are still reflected in their current market value, despite the recent landslides. Notably, PEPE is up 660% over the past 90 days with its price at $0.000006984. Likewise, the Solana BONK meme coin maintains a 117% gain over its 90-day trajectory with its value at $0.00002299.
5 More Meme Coins to Watch
The meme coins making up the other half of SharkyCoins’ recommendation included assets with a market cap of millions of dollars. These are all meme coins based on Solana, including MEW, MYRO, WEN, MANEKI, and DUKO. Essentially, these assets should take advantage of the positive sentiment around the Solana meme coins in the uptrend of the market.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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