With the broader crypto market displaying significant strength, it is no surprise that meme coins are thriving. The Meme Kombat presale recently surged past $1 million, and other meme coins like Pepe are also pumping.
This article looks at the 5 best meme coins to buy now, considering factors like community, market cap, long-term potential, and more.
Meme Kombat: GambleFi Meme Coin Boasting Robust Tokenomics and Long-Term Potential
Meme Kombat is a P2E staking coin, enabling users to gamble on the outcome of AI-generated battles between popular meme coin characters. It features several sophisticated gambling mechanisms, creating an engaging and immersive experience.
While it benefits from the viral allure of meme coins, scratching beneath the surface shows that Meme Kombat is much more than just a meme coin.
Crypto gambling has fared one of the blockchain industry’s most promising use cases lately, with market leader Rollbit surging to a $500 million market cap within a few months of launching.
However, Meme Kombat’s unique twist of “gameifying” crypto gambling could hint at even more potential, particularly as the crypto bull run kicks in.
Users require the $MK token to gamble on the platform, providing a steady and predictable demand stream that could help grow its price. It also features a staking mechanism, offering 112% annual percentage yield (APY), which could see a significant portion of the supply removed from the market.
The project is currently undergoing a presale and has raised $1 million in just one month. This shows the community’s massive interest and indicates a fast sell out.
Currently, investors can buy $MK for $0.1667 but must act quickly because its price will rise in one day.
Wall Street Memes: Trending Meme Coin With Massive Community Launches Crypto Casino
Wall Street Memes emerged as one of the hottest presales of 2023 after raising over $25 million in just four months. The project was backed by a one-million-follower community, which it has nurtured since launching as a crypto and stocks meme brand in 2021.
It also has the blessing of the renowned “Dogefather” and one of the world’s wealthiest men, Elon Musk. On several occasions, Musk has engaged with the Wall Street Memes X account. This naturally kicked up excitement in the Wall Street Memes community and is a central part of its early success.
However, the project also made other notable advancements recently, like launching its own crypto casino. $WSM holders get significant added benefits in the casino, like a 200% deposit bonus up to $25,000 and 200 free spins after making their first deposit.
The casino accepts major cryptocurrencies like Bitcoin and Ethereum, as well as $WSM.
After announcing the casino, the Wall Street Memes token pumped significantly. However, it has pulled back as earlier investors took profits, presenting a timely opportunity for new traders to buy in.
Currently, the project holds a $40 million market cap and a $15 million 24-hour trading volume.
Sponge: Trending Meme Coin Linked to Pepe Poised to Surge Amid Bullish Announcements
Sponge is a crypto that surged to the top of CoinMarketCap’s top trending list amid the meme coin mania kickstarted by Pepe last summer.
Yet, the project’s hype died down along with most other meme coins through Q3. However, as Bloomberg recently reported, Pepe’s recent resurgence has sent meme coins into another frenzy.
One of those meme coins is Sponge. The project is a humorous spin on SpongeBob SquarePants, but Sponge may have already reached “bear market bottom,” with its price up 6% this week.
Currently, Sponge holds a $2.8 million market cap and a $263K 24-hour trading volume. Its market cap hints at tremendous upside potential, given Pepe’s is currently over $460 million, and they launched around the same time.
Besides its ties to Pepe, the project’s recent pump can be attributed to notable ecosystem advancements and announcements from its team. One of those is the launch of its staking platform, which went live today and is expected to bolster demand for $SPONGE.
Meanwhile, the team is also rumoured to be making token burn and partnership announcements shortly, which could help grow its price even more.
With these announcements potentially around the corner, those looking to buy $SPONGE must act now.
Dogecoin: Leading Meme Coin by Market Cap and Is Yet to Pump
Despite boasting the most liquidity and the longest track record, Dogecoin has seemingly gone under the radar of many traders recently as Pepe steals the spotlight.
Nevertheless, Dogecoin remains a formidable force with the unwavering backing of Elon Musk. With Musk purchasing Twitter last year and planning to turn it into an “everything app”, investors are hopeful that Dogecoin could be integrated as a means of payment. This would make sense, considering Tesla already accepts Dogecoin payments.
Elon has also just reappeared on the Joe Rogan Experience, the world’s most popular podcast. Clips from the podcast on YouTube have garnered millions of views in less than 12 hours, and Musk’s ties to Dogecoin could help carry some of this hype into the crypto.
Dogecoin holds a $9.5 billion market cap and is the ninth-largest cryptocurrency. Its current price is $0.06702, down 3.2% in the last 24 hours, up 7% this month and down 90% from its all-time high.
Pepe: Top 3 Meme Coin With Significantly Lower Market Cap than DOGE and SHIB
Pepe is the third largest meme coin by market cap, behind Dogecoin and Shiba Inu. Currently, it is priced at $0.000001125 with a $469 million market cap. Meanwhile, as mentioned, Dogecoin’s market cap is $9.5 million, and Shiba Inu’s is $4.5 billion.
This gives Pepe room for almost a 10x to catch up to SHIB and a 20x to catch up to Dogecoin.
However, the exciting thing is that Pepe is dominating the other two cryptos regarding hype and community. For instance, Pepe is currently third on CoinMarketCap’s trending list, while Dogecoin and Shiba are nowhere to be seen.
As such, Pepe has evidently compelled the meme coin community, potentially enabling it to explode as the bull run kicks in. Moreover, the team has just announced that it burned 6.9 trillion PEPE worth $6,000,000 and is bringing a new team of advisors on board to guide the project forward. This is another indication of significant long-term potential.
Pepe’s price is down 5% in the last 24 hours, up 40% this month, but remains -74% from its 6 May 2023 ATH.