Memecoins
4 Dogecoin Rival Meme Coins to Buy for $100,000 Profit in May
Dogecoin’s major competitors are making waves in the cryptocurrency market, namely Shiba Inu (SHIB), Pepe (PEPE), dogwifhat (WIF), and Bonk (BONK). Each offers a unique appeal and a growing community, spurring meme coin buying trends. In the meantime, Dogemoneta has recovered, benefiting from the bullish momentum of the broader market. These meme coins show promising growth potential as the market recovers.
1. Shiba Inu Coin (SHIB)
Shiba Inu Coin (SHIB) has stood out in the cryptocurrency market, particularly in the decentralized finance sector. Born from a meme narrative, this digital currency uses the Ethereum network and has achieved a notable increase of around 130% in its valuation over the past year.
SHIB Price Chart
Despite this notable growth, SHIB has recently experienced a downturn. Over the past month, its value has fallen by more than 16%, influenced by broader bearish market trends. At present, the Shiba Inu coin price stands at $0.00002293, reflecting a positive movement of 4% over the past 24 hours. It currently ranks 11th on CoinMarketCap with a market capitalization of $13 billion.
A key development for Shiba Inu coin is the launch of Shibarium, its Layer-2 blockchain solution. Shibarium aims to improve the utility of the SHIB token by accelerating the rate at which tokens are burned.
This reduction in supply, combined with fluctuations in transaction volumes, suggests that Shiba Inu Coin could be a competitive player against other meme-based cryptocurrencies like Dogecoin.
2. Pepper (PEPE)
Pepe (PEPE), a cryptocurrency inspired by the popular Pepe the Frog meme, has made waves in the digital currency market. Launched on the Ethereum blockchain, it draws inspiration from viral internet culture, just like its predecessors Dogecoin and Shiba Inu.
In the last 24 hours, the Price PEPPER rose 10%, now sitting at $0.000007733. This increase comes in the context of a broader market correction observed over the past month.
With trading volume of $1.24 billion over the same period, PEPE rose to ninth position in the market capitalization ranking, highlighting a growing fascination with meme-focused cryptocurrencies.
3. Dogwifhat (WIF)
Dogwifhat (WIF), a digital currency on the Solana blockchain, is experiencing an extraordinary surge in growth. With a market capitalization of $2.7 billion, it currently holds the 39th position CoinMarketCap. Since its introduction on November 20, 2023, WIF has increased by 1543%.
This notable increase in value places it ahead of well-known meme tokens such as Shiba Inu and Pepe coin. Investors now see Dogwifhat as a key competitor in the meme coin industry, with potential profits of up to $100,000 in May alone.
4. Bon (BONK)
Bonk (BONK), a new cryptocurrency inspired by the canine themes of the Solana network, recently shook up the market by distributing 50% of its tokens to Solana users. This strategy quickly grew its market capitalization to an impressive $1.59 billion.
Bonk Price Chart
Currently priced at $0.00002652, Good recorded a 14% increase in the last day. Furthermore, its value has skyrocketed by 4153% this year. These statistics suggest that Bonk could be a profitable investment, potentially challenging Dogecoin as the meme coin to watch.
Bottom line
With the cryptocurrency market recovering, these meme coins offer interesting growth opportunities. Their distinctive characteristics and enthusiastic communities make them excellent candidates for substantial returns this month.
Related articles