Dogecoin, Shiba Inu, and Pepe - Which Meme Coin Could Surge To 2,000% By 2024?

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In the current crypto bull market, it is important to identify the best meme coin with the potential to thrive. Whether it is Shiba Inu, Pepe, Dogecoin, or any cryptocurrency today, one of these coins is likely to lead the way.

The entire crypto market is currently experiencing a substantial surge, with vibrant green trends dominating the charts. This surge encompasses not only the recent 24-hour performance but also the remarkable developments observed over the past week.

As 2024 approaches, investors and traders are closely monitoring the cryptocurrency market, searching for potential investment opportunities.

Among the various options, certain memecoins have garnered attention. This review comprehensively examines three memecoin projects for potential investors.

Which meme coin holds the potential for exceptional gains this November?

Pepe has experienced a remarkable 62% increase, Dogecoin (DOGE) has seen an 8.9% rise, and Shiba Inu has surged by 10.8%. This analysis aims to evaluate the top three memecoins, predict their price trends, and identify the one with the greatest potential for long-term investment.

Pepe (PEPE)

Pepe, a well-known memecoin, recently experienced a rebound and is now once again getting close to a $500 million market cap. PEPE’s price has seen a stunning comeback over the last week, almost two times its market value.

With this recovery, the frog-themed memecoin, which had just peaked in market cap at $1.6 billion in May, has returned to popularity. However, enthusiasm faded, and the market cap fell to $244 million late this month.

It is possible to credit Pepe’s recent resurgence to an array of higher on-chain activity and increased trading volume. The number of wallets holding Pepe has been growing, which is one of the primary signs suggesting a resurgence in interest in the coin.

A recent token burn event further bolstered Pepe’s standing and allayed worries that an unidentified developer may try to hawk tokens on the open market. Approximately 6.9 trillion PEPE tokens were burned, equivalent to approximately $5.5 million.

At the time of writing, PEPE has shown a remarkable 24.15% increase in the last 7 days, with the current price standing at $0.000001155. Furthermore, its daily trading volume has also seen a notable 38.54% surge in the past 24 hours. For valuable insights on the top memecoins worth considering for purchase, take a look at our available guide here.

Dogecoin (DOGE)

The original memecoin, Dogecoin, was introduced two years ago and has remained popular ever since. It garnered significant attention, especially after receiving endorsements from influential figures like Elon Musk.

Elon Musk holds the potential to drive significant gains, and when looking at potential investments, Dogecoin stands out. It’s widely acknowledged that whenever Elon Musk discusses Dogecoin, it often leads to a substantial 200% to 300% return, as his strong support significantly influences its performance.

It's time to remind shibes of the concept of Not Your Keys, Not Your Coins again.

During this extended 'crypto winter', the crypto scene has seen more questionable activities from shady-behaving central exchanges, and many decentralized swap setups that exist currently put… pic.twitter.com/5YxYVfpwzB

— Dogecoin (@dogecoin) October 11, 2023

Dogecoin reached its peak in May 2021 at $0.7376 but experienced a decline to $0.06 by October 2023. Despite this recent price drop, Dogecoin still maintains its position among the top ten cryptocurrencies by market valuation.

Currently, Dogecoin has seen a slight 0.20% increase in value over the last 24 hours and is trading at $0.068, according to CoinMarketCap. The trading volume for DOGE has also shown an increase, indicating growing support for the memecoin.

Consequently, some experts believe that Dogecoin’s price may soon approach, and potentially surpass, $0.07. With significant backing from Elon Musk, there’s potential for Dogecoin to reach a market cap of $200 billion, which represents a 20x return from its current position. If you are looking for the best crypto presales of 2023, check out our list.

Shiba Inu (SHIB)

Shiba Inu (SHIB) recently initiated a strong rally, marking an impressive 10% surge over the past week. This upward momentum follows a period of consolidation where SHIB’s price was confined to the range of $0.0000067 to $0.0000071.

While the rate of gain may appear relatively modest, Shiba Inu has demonstrated a consistent upward trajectory, with its sights set on surpassing the $0.000008 resistance level. Moreover, experts anticipate that SHIB will continue along its bullish trajectory.

Based on technical analysis, it’s anticipated that SHIB will largely stay within the $0.000007 range for the majority of November. Nonetheless, there’s a perspective that, as we approach the final week of November, SHIB might have the potential to reach $0.000008.

This could result in a gain of approximately 10.9% from its existing price levels, or potentially even more. At present, Shiba Inu is being traded at $0.0000078, indicating a marginal 1.22% decrease compared to the previous day.

Remarkably, within the last 24 hours, the SHIB memecoin has witnessed a trading volume of over $122 million. Furthermore, SHIB’s market capitalization has exceeded $4 billion, underscoring the coin’s substantial market size. If you’re seeking other investment opportunities, take a look at our list of the top crypto ICO’s to consider.

Conclusion

During the ongoing crypto bull market, all three memecoins, Pepe, Shiba Inu, and Dogecoin are present promising opportunities for investors looking for profitable ventures. When considering these memecoins as potential investments, several factors should be taken into account.

For investors seeking rapid and substantial gains, Pepe presents an intriguing option. As a newcomer to the market, it holds the potential for significant growth. Shiba Inu, on the other hand, strikes a balance between volatility and utility.

With features like ShibaSwap and its role within the broader Shiba ecosystem, it offers the prospect of a stable investment with substantial returns. For those who prioritize stability and the support of a prominent figure, Dogecoin, notably endorsed by Elon Musk, may be the preferred choice.

The backing of influential personalities can lead to swift price surges, making Dogecoin an enticing option. For promising altcoins to buy, check out our guide here.