With all the hype surrounding some of the new meme coins on the market Shiba Inu (SHIB) has quietly been making some steady gains. In the last 30 days, the price has pumped by over 110% and people are beginning to wonder if it can reach $0.1.
Before looking at the chances the number two meme coin has of reaching this huge marker, we want to focus on some of these new meme coins that have been stealing the spotlight. We found three projects, in particular, we think all investors should be taking a good hard look at. They are as follows:
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Dogecoin20 (DOGE20)
Slothana (SLOTH)
Sponge V2 ($SPONGEV2)
Let’s get into each project and examine why they will likely be big players in the meme coin market going forward.
Dogecoin20- Dogecoin and Shiba Inu should be worried about this newcomer
Presale success doesn’t always mean future success, but if you reach your hard cap in record time it's as close to a sure thing as you can get. This is what happened with Dogecoin20 (DOGE20) as it hit its presale target of $10 million in less than two weeks after its initial offering. Luckily for investors, they can still purchase DOGE20 before its listings begin.
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Why is there such hype around this presale? There have been plenty of Dogecoin (DOGE) alternatives before but why is this one receiving so much attention? The answer is a combination of Dogecoin’s likely downfall, mixed with the quality of this project. The people behind Dogecoin20 have looked at the way the market is unfolding and decided a proof-of-stake system is the way to go.
Like Bitcoin, Dogecoin is a proof-of-work coin. The first thing that comes to mind nowadays when we think of this system is how bad it is for the environment. Bitcoin is of course already coming under pressure from the US government in regards to how much energy it uses. Dogecoin does not get as much attention but uses the same amount of electricity annually as the entire of Malta.
Dogecoin20 is betting on the future and the other way they are doing this is with staking. Always a part of the crypto market, staking has become particularly important to new projects in recent times. Not only does it help attract more investors as they are incentivized by earning more currency down the line, but also it adds a layer of security that is particularly helpful for new projects.
Slothana- Solana may have just launched another hit meme coin
Slothana (SLOTH) is another meme coin taking the presale market by storm. Unsurprisingly it is another one from the Solana network which has been killing the meme coin game lately. Considering how well predecessors like Smog Token (SMOG) and Dog Wif Hat (WIF) have done, Slothana could be another coin destined for the big time.
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If the presale market is anything to go by it could be about to have a similar performance to Dogecoin20. We are barely a week since its launch and already SLOTH has just surpassed $5.5 million raised. This will come as no surprise to readers who are familiar with Slerf (SLERF).
Slerf is another Sloth meme coin that also comes from the Solana network. Earlier in March, it pumped by so much that even Bloomberg gave it a shout-out in a piece about Solana’s meme coin success. Slothana is a similar meme also based on a Sloth that is ready to replicate the success of its predecessor.
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Sick of his boring 9-5, which we are sure a lot of crypto investors can relate to, Slothana just wants to concentrate and pumping for its investors. It promises to ‘get off the herb’ and start getting its life together. One way to do that is by providing a great ROI for investors.
Sponge V2- Ready to build on the huge success version one already had
2023 was a huge year for meme coins. Having looked like the entire market was going to collapse at the start of the year, to Pepe Coin (PEPE) exploding and bringing new life to the sector, it was a whirlwind ride. We have a lot more innovation in today’s meme coin market because of the amount of new investors, one great example of innovation is Sponge V2 ($SPONGEV2).
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This is the second version of a meme coin from this ecosystem that will be hoping to build on the success of Sponge Token ($SPONGE). For those that don’t remember, after the PEPE pump the market hit very bearish conditions and once again the meme coin market was low on investors.
Sponge token had the unfortunate timing of launching at this time. It still managed, however, to pump by hundreds of percent and gain a cult following online. Many would suggest it helped the meme coin market through a difficult patch. Now with a P2E game added to the mix Sponge V2 will be hoping to replicate the success.
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There will be no sacrifice from the ecosystem though as the project has found an innovative way to go from one coin to the next. It's called stake-to-bride and how it works is investors must first purchase and stake $SPONGE. When they do so an equivalent amount of $SPONGEV2 is locked away for them. Once version one fully sells out version two will launch and investors will get their tokens plus their rewards.
Can Shiba Inu continue pumping until $0.1?
As we mentioned in the opening, Shiba Inu (SHIB) has been performing well over the last thirty days and is up over 110%. However, the above chart shows its performance over the last 24 hours and shows an almost 7% price drop. Considering a lot of rivals are pumping this is not great news for investors.
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In reality, the likelihood of Shiba Inu (SHIB) ever hitting $0.1 is unlikely because the total coin allocation is so large. There have been burnings lately which have helped, but in reality, the new meme coins being released with a fixed cap on the number of tokens are just going to perform better.
Conclusion
So, now you have our forecast for how we believe some of the meme coin market is going to fare this year. While there has been positive news around SHIB, the newer projects we have reviewed above are just all better investment options in today's market.
