Dogecoin (DOGE) has remained the top meme coin since its inception but in recent times, it has looked like its days as the top dog were numbered. This bullish run could not have come at a better time for the meme coin as it finally has seen some sustained growth that has eluded the project for years.
Some experts have noted that DOGE has gotten out of a price pattern it's been stuck in for two years and that means it could hit $1 as early as April. However, we still think there are better meme coin options out there for investors looking for a big payday. Here are the top three meme coins investors should be buying right now:
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Smog Token (SMOG)
Sponge V2 ($SPONGEV2)
Scotty the AI (SCOTTY)
All three of these projects have the properties necessary to outperform Dogecoin, so let’s jump right in and examine each one.
Smog Token- Solana’s next millionaire meme coin has arrived
In the last few years, the Solana network has surprisingly produced arguably the best meme coins on the market. From Bonk Coin (BONK) to Dog Wif Hat (WIF) there have been many coins that have exploded in value and made their investors very rich. Now, in the form of Smog Token (SMOG), we might be looking at its next millionaire meme coin.
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The people behind Smog Token seem to have done their research very thoroughly on the meme coin market. Their main commitment is to two aspects; airdrops and virality. If there is one thing a meme coin investor loves its airdrops. Smog Token has dedicated a massive 35% of its total coin allocation to airdrop rewards so there is a huge amount of crypto to be won for investors.
How the system works is similar to a league table. SMOG investors can earn airdrop points by buying and holding SMOG, or they can complete daily tasks on Zealy. The more tasks they can get through, the more airdrop points they will earn. This will, of course, position them to make the most of the airdrop rewards when they come around.
We mentioned that Smog token also cares about virality which is crucial to a meme coin’s success. A massive 50% of the total allocation of SMOG has been set aside for marketing and we can already see the benefits of this. Smog Token is everywhere we turn in crypto media and the account on X has nearly 40k followers already.
Sponge V2- The second coming of one of 2023's biggest stars of the meme coin market
There are many ways to show innovation in the meme coin market and originality with your innovation is generally rewarded by investors who seem to seek this out above all else. Sponge V2 ($SPONGV2) certainly falls under this category as it uses a stake-to-bridge system that ensures the integrity of the project while also building on success.
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How it works is beneficial to both the project and investors. For those living under a rock, Sponge Token ($SPONGE), the original meme coin from this ecosystem, was one of the stars of 2023. For any investor that wishes to purchase Sponge V2, they must first purchase and stake the original Sponge Token.
When they do this, an equivalent amount of $SPONGEV2 is also purchased for them and stored away. When $SPONGE sells out, then they will be able to claim their $SPONGEV2 tokens along with their staking rewards, which will be paid out over a 4-year period.
A quick reminder for those who forgot how successful Sponge Token was, its most impressive feat was succeeding despite the odds against it. The meme coin launched with no press during 2023s most bearish period on just one exchange. Despite this, it pumped by 100s of percent, grew a huge following and got added to 9 other exchanges. Expect Sponge V2 to build on this.
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Scotty the AI- The meme coin that also protects its investors using AI
In 2024 there has been a clear divide in meme coin strategy. Some coins have gone down the traditional route of being meme coins with no utility that just exist to try to go viral and pump off their fame. As you can see from the other meme coins in this piece, we think that meme coins on the other side of the aisle that have utility are going to be the success stories. Scotty the AI (SCOTTY) is one of these.
Unlike most other dog meme coins, this canine actually packs a mean bark and an even meaner bite. Based on a cute Scottish terrier, this dog acts as a cyber guide dog for investors to not only protect them from nefarious crypto sites but also to keep them informed and help them trade.
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AI is Scotty’s most powerful tool and we think this is an important application for the technology. AI has been a great addition to many crypto projects but we think it is important to use it for protective purposes as we are sure scammers will also be trying to use the new technology for their gain.
Scotty the AI is not all about protection. Scotty Swap is a part of the project that functions as a state-of-the-art token exchange that allows investors to trade freely. Scotty Chat then is an AI chatbot that accompanies users on their crypto journey and gives them up-to-date market data and sentiment.
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Dogecoin ready to hit $1?
As we can see from Dogecoin’s (DOGE) 30-day performance chart it has seen exceptional growth. An over 110% increase in its price is something DOGE investors were dreaming about last year. This growth has also taken it out of a threshold that was holding the price down for almost two years.
According to experts, this price breakout resembles the pattern before big gains in 2017 and 2021. While this looks very positive, it should be noted DOGE has lost a little of its value and these bullish conditions could mask other issues. We still think our other meme coin options are better choices for now.
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Conclusion
So, there you have our analysis of the current state of the meme coin market. While Dogecoin has enjoyed good recent success, we are not fully convinced this isn’t just because of general bullish conditions. The other three meme coins reviewed, however, have the right ingredients necessary to be huge success stories in 2024.
