The Bitcoin Halving of 2024 is eagerly anticipated by the cryptocurrency world. This event typically brings positive feelings, as it’s believed that the prices of many digital currencies will increase during the next market cycle. Even memecoins, which are less serious and often based on popular culture references, are generating interest among investors. They’re closely watching for any significant shifts, hoping to find the ideal moment to invest.
Many cryptocurrencies have reached new peak prices following the approval of Bitcoin Spot ETFs and resulting market surge. However, Bitcoin’s Halving event may serve as a secondary boost for the entire crypto market, even extending to memecoins.
Meme coins represent digital currencies that derive from well-known comic strips, cartoons, movies, or literary works, infused with humor, and have gained significant attention and excitement within the crypto community online. These coins are known for their price instability and are generally perceived as riskier investments compared to established cryptocurrencies.
As the Bitcoin halving approaches in the next few days, some crypto investors have already made their choices and invested in popular memecoins. But for those who are still deciding which memecoin is worth investing in, this article is for you. Here, we will discuss the top five memecoins that could potentially bring significant returns.
1. Dogecoin
Dogecoin leads the pack among meme coins due to its impressive history and Elon Musk’s prominent endorsement as a tech industry titan.
But before talking about it, you must go through this tweet from Musk himself.
— Elon Musk (@elonmusk) April 15, 2024
As the Dogecoin community is highly enthusiastic, Dogecoin could see a rally in its price.
In the second quarter’s second leg, markets are expected to become more optimistic. This could lead to a surge in trading, bringing advantages to buyers. By month’s end, experts predict that Dogecoin’s price could fall between $0.25 and $0.3.
It’s shocking that an AI model forecast indicates a potential surge of up to 305% for Dogecoin, bringing its price close to $0.35 by March 2024, only prior to the halving event. This projection is based on past trends during Bitcoin’s halvings, during which Dogecoin and other cryptocurrencies have shown remarkable price growth.
In the past, during Bitcoin’s halving in May 2020, Dogecoin underwent some price fluctuations. The most recent Bitcoin halving took place on May 11, 2020, and at that moment, Dogecoin was priced at $0.0026111. Following this event, both Dogecoin and Bitcoin saw a decline in value for the next two months straight. Yet, between June and July 2020, there was a significant surge of 50% in Dogecoin’s price.
It’s astonishing how much the price of Dogecoin increased following Bitcoin’s third halving on July 11, 2020 – reaching a remarkable gain of over 34,000% by May 2021.
2. Pepecoin
Another newbie in the memecoin arena, Pepecoin also has bullish signs according to the experts.
Pepe’s price has surged by around 200% over the past month, now at $0.000008135. This notable rise can be attributed to the robust bullish trend in the cryptocurrency market, which has similarly lifted Dogecoin and Shiba Inu by approximately 90% and 192% respectively.
Although Pepe is the third largest meme coin with a market capitalization of $3.42 billion, placing it 51st in the entire crypto market, it experienced a 12.5% price decrease over the past week and a 7.59% decline within the last 24 hours.
In simpler terms, the Bitcoin community is eagerly anticipating the upcoming halving event, estimated to occur around April 19, which reduces the reward given to miners for creating new blocks by half every four years. Investors are trying to guess how Pepe’s price might change after this event. By April 2024, some believe the price could be as low as $0.0000110 or as high as $0.0000256.
3. SHIB
Another big name on the list, Shiba Inu could also bring some potential return.
Currently, the value of Shiba Inu (SHIB) stands at $0.00002236 per token, and its total market capitalization amounts to an impressive $13.1 billion.
During April 2024, Shiba Inu could undergo significant price shifts, according to experts. Based on past market trends and Bitcoin’s upcoming halving event, it is anticipated that SHIB‘s average price will hover around $0.000034, while its peak price may reach $0.000045 post-halving.
Some experts believe that Shiba Inu’s value could increase by an estimated 225% and surpass its all-time high (ATH) of $0.00008618. Others predict an even more significant rise, potentially reaching a new ATH of $0.000094. After the Bitcoin halving, some experts think Shiba Inu could reach a notable price mark of $0.001.
4. Dogwifhat (WIF)
The value of Dogwifhat (WIF), a widely used meme token on the Solana platform, has recently experienced significant growth. Over the past day, WIF’s price has risen by 8%, reaching a new high of $2.90. This upward trend follows a series of market adjustments that took place last week.
Dogwifhat currently has a market value of around $2.85 billion, making it the 45th largest cryptocurrency. Despite a 31% drop in the past week, its impressive 1600% increase since its launch is worth mentioning.
Experts estimate that WIF will decrease by a significant amount, approximately 228.43%, in the upcoming month and reach a value of around $8.59 on May 16, 2024. On the other hand, Dogwifhat is anticipated to experience a rise in value, increasing by about 180.55% within the next six months, with a projected price of $7.33 by October 13, 2024.
Other predictions suggest that WIF‘s value may hit $15 by the close of 2024, and it could hover around $8 to $12 from 2026 to 2027. There’s also an anticipated peak value of approximately $75 in 2030. However, I’d like to note that WIF’s price might rise to $10 within the next month or a year.
5. BONK
As Bitcoin’s halving event draws near, there’s a possibility that the value of a newer Solana memcoin, Bonk, may experience a significant increase. Bitcoin’s impact on the market could potentially affect Bonk’s price as well.
Just like PEPEcoin, Bonk Memecoin has garnered significant attention thanks to its dedication to the community and successful airdrop initiatives. Additionally, being listed on prominent exchanges such as Coinbase has boosted its exposure and trading volume.
Memecoins are prone to swift price changes fueled by speculative excitement. The Bitcoin Halving event might trigger more speculation, potentially affecting memecoins such as Bonk Memecoin.
In addition, the feeling towards Bonk Memecoin at present is optimistic, as suggested by the Fear & Greed Index showing a “greed” level. This may represent investor assurance and the possibility of price growth.
In my current assessment, BONK is priced at $0.00001401 and holds a market capitalization of $913.11M. Post-Bitcoin halving, there are predictions that BONK may exceed its previous record high of $0.0000475. Based on expert evaluations, it’s anticipated to experience a significant increase in value, potentially reaching approximately $0.000055 – an uplift of around 300%.
Conclusion
In simpler terms, the Bitcoin halving scheduled for 2024 is an important occurrence in the world of cryptocurrencies. The value of Bitcoin and the crypto market as a whole has been rising, but this event could add even more benefits for those invested in memecoins.
With excitement surrounding Bitcoin’s expected halving in 2024 at an all-time high, it’s crucial to remember the unpredictable nature of the crypto market, including memecoins. To make informed decisions, investors are advised to carry out thorough research beforehand. Prior to investing in any digital currency, take into account your own risk tolerance level.
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2024-04-18 16:08