Despite the memecoin category recording a successful 2023, top tokens have started the year on a bearish note, indicating a decline in the interest of the investors in it. On the other hand, during the last week of January, low-cap memecoins displayed significant fluctuations in their respective charts.
The increase of investments in low-cap memecoin highlights the switch of interest of investors within the category for more profits. In this article, we have covered the top three potential memecoins to invest in with a potential return of 100x in a short time.
Wen (WEN):
Due to the increased volatility in the Solana ecosystem and connections with the Jupiter token, WEN memecoin recorded a successful launch recently. WEN contributed over $50 Million daily to Jupiter, making it popular instantly.
The WEN price recorded massive gains between 26th January and 29th January, indicating a potential multi-bagger for the upcoming bull rally. The Wen price was launched at $0.00000028, and within the next few days, the token recorded a top of $0.0000058.
Currently, the WEN price trades at $0.0000005141 with a circulating supply of 420 Billion. The WEN token is considered to be a potential multibagger considering the present market sentiments.
Dogwifhat (WIF):
Dogwifhat works on the Solana blockchain and drew its inspiration from the Dogwifhat meme. It is sub-categorized under dog-based memecoins like DOGE, FLOKI, and Shiba Inu. The WIF coin has gained immense popularity over the past month, making it a potential pick for this list.
Solana-based memecoins have gained massive attention from the crypto industry recently as many tokens from its ecosystem have added massive value to their portfolio. The SOL price plays a vital role and these tokens are highly influenced by its price movements.
The Dogwifhat is presently trading with a price tag of $0.2868, with a market cap of $286,481,050 and a circulating supply of 998,920,173 WIF. This memecoin is predicted to display similar price action as that of Bonk, making it a potential 100x token.
Memecoin (MEME):
Launched on the Binance Launchpad, the Memecoin price has gained significant attention from the market since its launch. The MEME token was launched, on 28th October 2023 with a price tag of $0.001. The memecoin hit a high of $0.1, a jump of 9,900% within the first few hours of launch.
The present trading price of MEME is $0.02324, with a total supply of 69,000,000,000 MEME, and a market cap of $240,817,211 at the time of writing. It has a trading volume of $34,980,768 over the past 24 hours, indicating a rising interest of investors in this token, making it a potential buy for the coming cycle.
Conclusion:
Overall, the memecoin market has been constantly displaying a mixed price action by recording significant fluctuation in value. This indicates a mixed interest of investors in this category at this point.
Further, this year is considered to be a vital one for memecoins as well as the whole industry as the future of the cryptocurrency market depends on as many major events are scheduled for this year which will collectively reshape the future of the traditional financial system.
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