As meme coin markets continue to mount a come-back, smart money investors are considering whether to sell Dogecoin for new low market cap DOGE alternatives – lets dig in and take a look at 5 of the most promising meme coins.
Shifting sentiment on Dogecoin leaves the leading meme coin as a victim of its own success, with its strong market position, whilst once an allure – DOGE now has an eye-watering market cap.
Dogecoin is currently sick. We’re being contacted by a number of exchanges saying Dogecoin is jammed/unresponsive etc. We know the issue is inscriptions clogging the network, and devs across the board, core, fdn, etc are now putting their heads together on various ideas from…
— Timothy Stebbing (@tjstebbing) February 6, 2024
Dogecoin Alternatives: Discover 5 Promising Meme Coins That Could be The Next DOGE
Indeed, at a whopping $11Bn market cap, major gains for Dogecoin will require an absolute flood of new capital, for example, to get a 2x on DOGE, the project would need an additional +$11Bn.
This highlights the benefit of low market cap meme coins, which could make much bigger moves with the same amount of fresh capital – lets explore some examples.
Dogecoin Alternative #5 – BONK Token
The start of 2024 has seen a huge migration in meme coin activity away from the Ethereum network, as traders look to shield their trading from the expensive and volatile gas fee situation – which appears to be worsening amid the arrival of ERC-404 tokens.
In order for BONK to reach 2x gains, BONK’s market cap must reach around $1.5Bn – an increase of around $745m.
Whilst this is still lofty target, $745m is certainly more attainable than Dogecoin’s $11Bn.
Dogecoin Alternative #4 – DogWifHat Token
In testament to the breakout success of the Solana blockchain amongst meme coin traders stands DogWifHat (WIF) token.
Standing as the second-largest meme coin on Solana, behind BONK, WIF token has enjoyed unrivalled success over the past month.
Yet, despite the vote of confidence from the market – WIF continues to remain below $500k market cap, at a present $374,306,952.
In order for DogWifHat to reach 2x gains, WIF’s market cap must reach around $750k – an increase of around $375m.
Whilst this remains a large capital inflow, it is certainly more feasible than Dogecoin’s $11Bn.
Dogecoin Alternative #3 – MYRO Token
In third place is the 3rd biggest Solana-based meme coin, MYRO, which has unlocked viral success by playing on the name of the Solana Founder’s pet dog.
Myro is already a well-established name in the meme coin vertical, having been around for a number of months, however, this hasn’t stopped new holders from accumulating the token.
New entrants have been bolstered by an alluring market cap, which currently stands at $62,614,760, meaning that MYRO would need to grind up to a $120m market cap for holders to receive a 2x return – just 0.005% of the capital inflow needed by Dogecoin.
Dogecoin Alternative #2 – MEME Token
Launched to serve the needs of legendary meme-maker 9Gag’s so-called MemeLand platform, MEME token has all the trappings of a sensational coin – with solid backing, great market placement, and an exceptionally strong name.
MemeLand is 9Gag’s entry into Web3, and effectively operates as a platform for the creation and minting of memes as NFTs.
With a market cap of $253,207,857, MEME token holds a strong market position in the top 200 cryptocurrencies, and with an inflow need of just $250k for investors to receive a 2x return – MEME stands out as a strong contender.
Dogecoin Alternative #1 – SMOG Token
SMOG champions the slogan “No meme coin can survive the fiery flames of SMOG,” offering holders access to the elite ‘The Dragon’s Court’ crypto community.
This community aims to achieve unmatched virality in the meme coin domain – with the stated aim of de-throning the DOGE meme coin.
They do this by launching exciting, interactive, and continuous multi-airdrop campaigns to playfully engage users.
To participate, individuals must purchase and retain $SMOG, which allows them to earn airdrop points. Although the exact rewards and specifics of the airdrop campaigns are yet to be revealed, the sense of anticipation is growing.
Moreover, $SMOG holders can benefit from a community bounty produced by the campaign, further incentivizing the retention of their holdings.
SMOG Token Aims To Unlock Major Virality Through Airdrop Campaign Community – Huge 50% of Token Supply Designated to Marketing
The Smog project’s tokenomics highlight the team’s commitment to achieving viral success for their airdrop campaign.
Developers have earmarked a significant 50% of the supply for marketing, showcasing their ambitious plans.
They have reserved a significant 35% of the supply for future airdrop rewards, highlighting the promise of attractive prizes.
Efforts to decrease the circulating supply position the SMOG token for a stronger start compared to previous Solana meme coin surges like BONK, which has seen an impressive +862% year-to-date (YTD) gain despite its pullbacks.
Discover The Dragon’s Lair: Exploring Smog Token’s Extensive Roadmap
The project’s future is outlined in a detailed roadmap, showcasing several exciting milestones.
Key highlights include the introduction of a staking feature, suggesting upcoming airdrop initiatives. Additionally, discussions of a potential burn mechanism and plans for multiple future airdrop launches are noteworthy.
Uniquely, the project also lists the milestone target of achieving 10,000+ so-called ‘Loyal Chosen’.
Joining this exclusive and enigmatic group requires selection and a pledge to the SMOG realm via several community initiation rituals. This commitment comes with the promise of enhanced airdrop rewards.
How to Buy SMOG Token and Participate in SMOG Airdrop Campaign?
In order to participate in the SMOG airdrop campaign, traders will need to use a Solana-compatible wallet such as Phantom.
To improve your likelihood of selection for the Loyal Chosen and enhance your airdrop earnings, engage in completing the community task list on Zealy.
Explore the Lite Paper to find out more.
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