Dogecoin (DOGE) is hoping 2024 will turn out to be a better year for the market-leading meme coin. Despite a banner year for meme coins, Dogecoin saw very little growth when we take in the totality of the year. Nevertheless, investors are still hopeful that this year, we could see a rebound. But can Doge hit $1 in 2024?
A lot of Dogecoin’s success may come down to a certain billionaire's decision to add the meme coin as a payment method for his social media site or not. We will get into that a little later but we also want to focus on some other meme coins that seem like a much safer bet to see big gains in 2024.
Sponge V2 ($SPONGEV2)
Meme Kombat ($MK)
Pikamoon (PIKA)
We are expecting another big year for meme coins as there doesn’t seem to be any tempering the hype that they grew last year. This has meant, however, that the market has become oversaturated with new projects. We want to be your guide in navigating through the duds and finding the gems.
Let’s dive into these projects and see why the above tokens are the best candidates for massive gains in 2024.
>>> Buy The Best Meme Coins Now<<<
Sponge V2- 2023 was a success for V1 and we expect even bigger things in 2024 from V2
Sponge V2 ($SPONGEV2) is a very unique project as it is actually the second version of the meme coin Sponge Token, which rose to prominence last year. A meme coin based on one of the most memed TV shows ever, Spongebob Squarepants, it was one of the more successful meme coins of 2023.
The project is unique because of how they have set things up to get from version 1 to version 2. A stake-to-bridge system is an innovative solution that ensures the integrity of the ecosystem and makes it an easy transition from Sponge Token to Sponge V2.
How it works is, if investors wish to buy $SPONGEV2 they first buy and stake $SPONGE. However, when they do this, an equivalent amount of version 2 is also purchased and locked in for them. Once the total allocation of version 1 is sold out then they can claim their version 2 tokens along with the staking rewards they have built up.
Now let’s get to why investors should be interested in purchasing Sponge V2, and that is because of the success of version 1. We mentioned that it was one of the most successful meme coins of 2023 but a lot of this was actually in spite of the conditions it was launched in.
Sponge Token was birthed in the wake of the Pepe Coin, but by then, market conditions had turned bearish. It also had little or no publicity before its launch, and Uniswap was the only exchange that listed it. Despite this, it pumped by 340%, got listed on 9 other exchanges, and gained a sizable social media following.
All of this will help Sponge V2 greatly in its quest for big gains. If that wasn’t enough, the staking adds utility, and a new P2E game is coming to the ecosystem too. It will be a racing game that has both free and pay-to-play options that let everyone have some fun while also offering a chance to earn some crypto!
Advertisement
Meme Kombat- This game could single-handedly revive interest in the P2E sector
P2E games took a back seat to meme coins last year, and the sector has been struggling to break back into relevance again. We think Meme Kombat ($MK) could put P2E games back in the spotlight again. For starters, it is a P2E/meme coin crossover, so they are immediately casting the net wide for potential investors.
The game itself takes inspiration from one of the biggest combat gaming franchises of all time; Mortal Kombat. We always think it's a smart move for blockchain games to do this as it can draw in a whole new customer base as fans from the original games are likely to come across the project.
Advertisement
There are some pretty considerable differences with Meme Kombat that blockchain gamers are likely to love. First of all, the characters that will be battling it out in the arenas for you are the biggest memes from the last 10 years. From Doge to Pepe, they are all available, and all have unique attributes that make every fight entertaining.
AI is used throughout the game to give the user an authentic experience. It helps control the characters and gives them realistic movements while they battle. It also helps decide the outcome of fights. This is very important as it leads us to our favorite aspect of the project; wagering.
Not only is the game entertaining to play, but players will also be able to win in-game currency by wagering on the outcome of fights. Winning $MK tokens will be valuable as the project employs a dynamic staking system that currently has an APY% of roughly 133%. So, if you were to win $MK while wagering on the fights, you could stake this and really start earning.
Pikamoon- Another P2E game that is going down the Meme Kombat route
Pikamoon (PIKA) is hoping to follow a similar path as Meme Kombat. Although its presale has not been as successful, we still think it can be a success. It too is combining a P2E game with a meme coin and hoping to strike gold.
Advertisement
Taking inspiration from Pokemon but adding a blockchain gaming twist, we think this game could be a big gainer. Instead of choosing Pikachu at the start of the game, players will be able to mint their own NFT sidekick. They then earn in-game currency by completing tasks and battling characters throughout the 4 worlds inside the game.
What are the chances Dogecoin can reach $1 in 2024?
Above is Dogecoin’s performance over the last 7 days. It shows a loss of just under 7%. Now, at first glance, this is not good viewing, but it has been holding support at the 100-day moving average for two weeks. This is despite bears trying to get DOGE below $0.70. This ability to hold on might indicate a pump is imminent.
Advertisement
Of course, a lot of Dogecoin’s future is in the hands of Musk. X’s owner has for a long time flirted with the idea of adding DOGE as a payment method for the social media site. If 2024 is the year this finally happens, expect Dogecoin to hit $1 and beyond.
Conclusion
So there you have our Dogecoin prediction for 2024. It is unlikely that DOGE can hit $1 without the help of Musk, so it is risky to rely on that. Sponge V2 and Meme Kombat are much more surefire options, in our opinion. Both have the properties a meme coin needs to stand out from the crowd and pump.
