Dogecoin (DOGE) and Shiba Inu (SHIB) continue to reign supreme in the meme coin space due to their enormous market caps and colossal communities.
However, several upstart meme cryptos are generating massive buzz and could be primed for explosive growth – all while still being undervalued compared to DOGE and SHIB’s lofty market positions.
The Unshakable Dominance of DOGE & SHIB
When it comes to meme coin market dominance, Dogecoin and Shiba Inu remain in a league of their own.
Despite constant challengers, the two tokens have solidified unprecedented brand recognition and community backing.
Leading the pack is Dogecoin, which currently boasts a whopping $22 billion market cap that dwarfs most of its meme coin peers combined.
The OG “joke crypto” has used its first-mover advantage to assemble over 6.5 million holders and millions more passive supporters on social media.
What’s more, DOGE has achieved real-world utility by being accepted as a payment method by major companies like Tesla.
This sets it apart from many meme tokens designed purely for speculation.
Not to be outdone, the Shiba Inu ecosystem has rapidly closed the gap on Dogecoin in recent years.
SHIB now boasts an $18 billion market cap of its own on the back of its enormous community known as the “Shib army.”
Further boosting its credibility are ecosystem upgrades like Shibarium – a Layer-2 network that promises cheaper gas fees and faster transactions.
SMOG & SPONGEV2 Primed as Undervalued Gems with 100x Potential
So, which meme coins actually have the potential to 100x from current prices while remaining undervalued compared to DOGE and SHIB?
Two low-cap candidates making noise are Smog (SMOG) and Sponge V2 (SPONGEV2).
First up is SMOG, the dragon-inspired token that’s been turning heads lately on the Solana blockchain.
Despite an incredible rally that has pushed its price up over 4,000% in the past month, SMOG’s market cap is just $222 million at the time of this writing.
To reach the $22 billion valuation of DOGE, SMOG’s price would need to increase over 100x from here.
While certainly an astronomical figure, Smog’s rapidly expanding ecosystem and high staking rewards could make such gains feasible if the hype continues.
Then there’s SPONGEV2 – the Polygon-based reboot of the original Sponge (SPONGE) meme coin.
After recently migrating from Ethereum, SPONGEV2 has rocketed thanks to rewards like 563% staking APYs and the development of a play-to-earn (P2E) racing game.
Despite this growth, Sponge V2’s market cap is still just $93 million.
For Sponge V2 to reach SHIB’s valuation, its price would need to increase over 200x from today’s price.
Are PEEN, SCOTTY, & MEMEAI the Next Generation of Disruptive Meme Coins?
Beyond SMOG and SPONGEV2, the meme coin market is full of other audacious projects that are making waves.
Three that have turned heads are Peen (PEEN), Scotty the AI (SCOTTY), and Meme Ai (MEMEAI).
PEEN has captured the market’s attention with its irreverent, adult-themed branding.
The ERC-20 token is unashamedly centered around NSFW humor and crass jokes.
Thanks to its hilarious schtick, PEEN has rapidly attained a community of supporters who have already driven its market cap to almost $1 million.
Scotty the AI, on the other hand, is positioning itself as a meme coin with real utility.
This token aims to combine viral meme potential with actual use cases powered by AI tech, like token swapping.
With 40% of its 1.7 billion token supply allocated to its ongoing presale, which has now raised over $3 million, SCOTTY is making all the right moves.
Then there’s Meme Ai, which has rocketed up the market cap ranks by combining two red-hot narratives – memes and AI.
The project lets users generate unique meme NFTs on the fly to trade on its native marketplace.
While their approaches differ, all three of these meme coins share one thing – enormous upside potential.
Whether any of them can match DOGE or SHIB remains to be seen, but the meme coin market’s history of explosive growth suggests that anything is possible.
