May 4, 2024 5:23pm CEST
| 4 min read
Meme coins are preparing to experience a real renaissance in the coming months. While some have criticized their fleeting nature, several meme coin projects have proven their worth over the years and have become the closest thing to the concept of “safe money” in the notoriously volatile crypto industry.
At the moment the largest representative of the sector remains Dogecoin. $DOGE is the first meme coin created as a joke and the progenitor of a long sequence of dog-themed meme coins.
Launched in 2013 by Billy Markus and Jackson Palmer, Dogecoin was initially the ironic response to the crypto generation craze. What began as a provocation found a loyal audience of fans who made it a success.
He has also received endorsements from a diverse array of celebrities, including Elon Musk, Snoop Dogg, Gene Simmons and Mark Cuban.
But the real question is: can Dogecoin go from the current price of $0.1317 all the way down to $1? The most logical answer is not in the short term.
It seems the dominance of canine meme coins is over. Interesting innovations with viral appeal have made their appearance. Let’s find out which ones have the potential to reach $1 in 2024.
Will Dogecoin Reach $1?
DOGE almost made it. Two years ago, during the Bitcoin boom, Dogecoin reached an all-time high of $0.7316. However, it seems that the market overestimated its value then. Since, Dogecoin has lost a lot, while Bitcoin has set new records this year.
It would take another market boom or new use case for Dogecoin to drive its value up to a dollar. The first circumstance could be about to occur, given that Bitcoin is about to return to growth in line with post-halving expectations.
And as far as the underlying technology goes, Dogecoin is quite dated. Like Bitcoin, it uses a Proof-of-Work consensus mechanism, where miners employ highly energy-intensive computing resources to mine blocks. Furthermore, the limitations in terms of smart contracts do not make Dogecoin a real ecosystem.
This means that more careful investors will prefer more efficient alternatives to DOGE such as Shiba Inu (SHIB), Dogecoin20 ($DOGE20) and Dogeverse ($DOGEVERSE).
What prospects do frogs and sloths have?
Pepe Coin ($PEPE) is the third largest meme coin in the world. Like Dogecoin, it is inspired by a famous internet meme. Too bad the market value of $3.4 billion puts it further away from Dogecoin and Shiba Inu.
At the current price of $0.058114 and with a previous all-time high of $0.00001064, it is certain that PEPE is not making progress towards its dollar target.
Conversely, one project that could do so is the sloth-themed meme coin Slerf ($SLERF). Slerf has an interesting history. On launch day, a major incident caused $10 million worth of tokens to be accidentally burned. The tokens were expected to reach around 25,000 buyers in the pre-sale.
Shortly after launch, Slerf reached a peak market capitalization of $750 million. Trading volume over the past 24 hours approaching $2.5 billion and the token actually reached an all-time high price of $1.28 from an launch price of $1.10 before falling to its current level . However, at its current price, Slerf has a higher chance of reaching a dollar than Dogecoin.
Finally, there is Sealana $SEAL, a new meme coin from Solana. Sealana, the American redneck seal, is garnering great interest thanks to her entertaining narrative capable of attracting a lot of pre-sale capital.
Sealana is a funny version of the popular South Park character Gamer Guy, aka Fat Computer Nerd.
Gamer Guy appeared in the hit episode of the World of Warcraft cartoon and became a viral meme in his own right, recognizable by his bottle-bottom glasses, staring at the screen, messy room and his imposing body size.
Sealana is Gamer Guy but in the world of Web3. Stranded at his PC desk as he continues to gain weight, Sealana is so focused on trading that he has lost his slim figure to a diet of chips and canned tuna. His obsession with finding the next big Solana meme coin keeps his fins busy and his room looks like it was just bombed. A true patriot in search of the lost American dream!
Its pre-sale phase has just begun and it has already raised over $150,000.
It seems that Sealana’s team is the same one that created the Slerf ($SLERF) project and that they intend to replicate the success, this time without accidentally destroying 10 million dollars in tokens.
For each SOL, investors receive 6,900 $SEAL tokens at the end of the ICO. This puts them in a prime position to capitalize on potentially explosive appreciation through the pre-sale phase and beyond.
Users can buy presale through the widget on the official website or by sending SOL from a decentralized wallet to this address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.
Cryptocurrencies are highly volatile and unregulated. No consumer protection. A profit tax may apply.
