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The next SHIB? 5 meme coins set for massive growth in 2024

The next SHIB? 5 meme coins set for massive growth in 2024

Shiba Inu (SHIB), a prominent meme token in cryptocurrency, remains a focal point for investor interest. Bolstered by a vibrant and dedicated community, SHIB has embarked on a thrilling trajectory, with other meme coins beginning to stand out as its worthy competitors.

Within this framework, numerous cryptos have emerged as standout contenders, demonstrating the potential, driven by current market trends and technological advancements, to rival and potentially succeed SHIB.

Dogecoin (DOGE)

Operating as an open-source, peer-to-peer cryptocurrency utilizing blockchain technology, Dogecoin (DOGE) has garnered attention from traders. Recent trends highlight substantial growth in DOGE’s on-chain transactions, witnessing a surge of $665 million in transaction volume.

Furthermore, the noteworthy development of Dogecoin derivatives volume doubling in a single day on November 18, with speculators trading $5.04 billion worth of DOGE using derivatives, adds to the positive indicators of demand for this digital asset.

Meanwhile, DOGE is currently changing hands at the price of $0.08, down 5.82% on the day, diverging from the 1.83% increase across the previous week and the 26.21% gain over the past month, according to the most recent data retrieved on November 21.

Dogecoin 30-day price chart.  Source: Finbold
Dogecoin 30-day price chart. Source: Finbold

Pepe (PEPE)

Pepe (PEPE) was originally designed to use a deflationary mechanism that burns a small percentage of tokens with each transaction.

At press time, PEPE was trading at the price of $0.00000112, recording a decrease of -6.9% in the last 24 hours, adding to a decrease of -6.6% over the past seven days. However, it had an impressive 60.9% rally in the previous month.

Pepe 30-day price chart.  Source: CoinGecko
Pepe 30-day price chart. Source: CoinGecko

FLOKI (FLOKI)

FLOKI (FLOKI) is more than just a meme coin; it has tangible applications. Significantly, the utility coin within the FLOKI ecosystem comprises decentralized finance and a non-fungible token (NFT) metaverse. Experiencing a significant surge in its value and market cap propelled this crypto into the top 100 digital assets for a period earlier this year.

As things stand, the price of FLOKI presently amounts to $0.000030, which represents a decrease of -5.2% on its daily chart, further decreasing -18.2% across the past week, and gaining as much as 14.8% on its monthly chart, according to the latest information.

FLOKI 30-day price chart.  Source: Finbold
FLOKI 30-day price chart. Source: Finbold

ApeCoin (APE)

ApeCoin (APE) serves as a utility and governance token designed to empower the community within the APE ecosystem, established in connection with the Bored Ape Yacht Club (BAYC).

According to a cryptocurrency analyst Sheldon The Sniper, ApeCoin is poised for a breakthrough after reaching value levels close to a resistance zone, as highlighted in his post on X on November 20.

ApeCoin nearing its resistance zone.  Source: Sheldon The Sniper
ApeCoin nearing its resistance zone. Source: Sheldon The Sniper

As things stand, APE is presently changing hands at the price of $1.49, recording an increase of 5.12% on the day, up 0.44% in a week, and substantial growth of 33.28% across the previous 30 days, as per the latest data.

ApeCoin 30-day price chart.  Source: Finbold
ApeCoin 30-day price chart. Source: Finbold

Bone ShibaSwap (BONE)

Bone ShibaSwap (BONE), a pivotal component of the Shiba Inu cryptocurrency ecosystem’s Layer 2 blockchain, Shibarium, has sparked significant interest in the crypto community. This surge in attention is evidenced by remarkable metrics: the total number of transactions on Shibarium has recently surpassed 4 million.

Additionally, BONE is now available to traders through StealthEX on their mobile phones via the same app, as per the announcement made on November 17.

In the meantime, BONE is changing hands at the price of $0.64, recording a decrease of -3.17% on the day, down -5.11% in a week, and down -10.21% across the previous 30 days, as per the latest data.

Bone ShibaSwap 30-day price chart.  Source: Finbold
Bone ShibaSwap 30-day price chart. Source: Finbold

Conclusion

If the crypto market experiences growth in 2024, driven by events like the Bitcoin halving and the potential introduction of a spot Bitcoin ETF in the United States, it could lead to a broader market expansion. 

This growth is expected to positively affect altcoins and prominent meme coins, as they often follow Bitcoin’s trend. Additionally, such market dynamics could attract increased interest from retail investors.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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