After reaching two market cap peaks—in early April and late May—meme coins appear to be rebounding, aiming to cross the $60 billion threshold. If this happens, could 2024 witness a ‘Memecoin Summer’ before it concludes, influenced by the Halloween Effect?
Numerous traders have succeeded in reaping lucrative gains over the past months by HODLing through the memecoin frenzy and zealously betting on price pumps. Remarkably, dominating market dynamics, Solana memecoins have ranked at the top in popularity and gains.
Despite being extremely volatile and risky, memecoins have become one of the most preferred or adopted crypto assets among newbies and seasoned pros.
This article will uncover mid- to small-cap memecoins that have shown a bullish trajectory over the past days and months.
DISCLAIMER: The opinions expressed in this article are those of the author and do not constitute investment or financial advice. TheNewsCrypto team strongly advises all readers to conduct their own research and exercise caution before investing in memecoins.
Let’s delve into and briefly analyze the current market dynamics of the following popular memecoins.
Moo Deng (MOODENG)
MOODENG, Solana-based memecoin inspired by the viral Thailand hippo, took over the meme realm in early September and fueled quite a frenzy. Holding the 219-nth largest market capitalization — $207.46 million— the hippo-themed memecoin trades at $0.2097.
MOODENG noted impressive rallies over the weekly and monthly timeframes: 147.85% and 508.03% respectively. However, over the past 24 hours, the memecoin plummeted 7.89%.
Goatseus Maximus (GOAT)
Goatseus Maximus (GOAT) was one of the most viral memecoin launches. Debuting in mid-October, this memecoin climbed its way into the top 100 large-cap cryptocurrencies.
With weekly gains of 75.97% and monthly gains of 566.64%, GOAT has shown strong upward momentum. At the time of writing, the price of GOAT was $0.6517 with the 97th largest market cap of $645.80 million.
MSTR2100 (MSTR)
Michael Saylor-lead MicroStrategy is one of the most significant companies that proved its pro-Bitcoin stance. A memecoin that exists as the decentralized derivative of the company’s stock MSTR is MSTR2100 (MSTR).
MSTR has demonstrated remarkable gains of 199.52% over the week and 2889.35% over the month. At the time of writing, MSTR traded at $1.41 with $29.14 million.
MAGA (MAGA)
2024 is the genesis era, or the growth phase, for PoliFi memecoins. Inspired by Trump’s campaign slogan ‘Make America Great Again,’ meme coin MAGA currently boasts the highest gains among its fellow contenders.
MAGA reported significant increases of 57.87% in the weekly timeframe and 243.44% monthly. This memecoin traded at $0.0002369 with a market cap of $91.9 million.
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