As Bitcoin’s rally accelerates, with the BTC price rising another 7% on Wednesday to surpass $61,000 for the first time since November 2021, altcoin markets are also pumping, with risk-seeking crypto investors on the hunt for the best meme coins to buy.
Last just above $61,000, Bitcoin has risen an amazing 18% already this week.
Huge demand from US investors for spot Bitcoin ETFs appears to be the main driver of the rally.
Spot Bitcoin ETF trading volumes hit a new record high earlier this week, whilst BlackRock’s ETF saw record inflows yesterday.
Bitcoin ETF inflows surge while Blackrock’s IBIT sees biggest increase on record pic.twitter.com/bQDVGqZWmn
— zerohedge (@zerohedge) February 28, 2024
The narrative surrounding Bitcoin’s upcoming issuance rate halving (expected in April) is also supporting the upside.
Others are pointing to potential macro tailwinds, with the Fed expected to cut interest rates next year.
Either way, Bitcoin looks odds on to test its record highs shortly.
And altcoin markets are also surging.
Solana (SOL), Cardano (ADA) and XRP (XRP) were all last higher by about 3-4% in 24 hours, as per CoinMarketCap.
Major altcoins like these could easily offer potential gains in the region of 3-5x.
But investors gunning for higher returns in the 10x-100x region will be looking for the best meme coins to buy.
Here are the five best meme coins to buy that could deliver huge upside.
Best Meme Coins to Buy
Bonk (BONK)
Solana’s flagship dog-themed meme coin Bonk (BONK) is picking up, but investors still have a chance to buy the dip.
BONK was last trading around $0.000016, up over 60% from this year’s lows at $0.000010 support.
But BONK is still over 50% down from its record highs set in late 2023 around $0.000035.
And with a market cap of only $1 billion, BONK could easily rally 10-50x this bull market.
Investors will recall Dogecoin and Shiba Inu hitting market caps in the $10s of billions back in 2021.
That’s why it should be considered one of the best meme coins to buy.
Smog (SMOG)
A much smaller Solana-based meme coin alternative called Smog (SMOG) has been turning heads recently.
The dragon-themed token markets itself as offering Solana’s greatest airdrop of all time.
Traders can qualify for the airdrop by buying a holding SMOG on Solana, or staking the token on Ethereum.
Even though its market cap remains modest at just over $70 million, SMOG already boasts a strong community.
Indeed, as per birdeye.so, it already has over 30,000 holders.
Given all the excitement about Solana airdrops in recent months, SMOG could gain significant interest in the coming weeks.
SMOG could deliver at least 10x gains to investors, hence its rank in the best meme coins to buy.
Dogwifhat (WIF)
Another Solana-based meme coin that has been pumping as of late is Dogwifhat (WIF).
Up 100% this week, WIF now has a market cap of around $700 million, with momentum gaining.
As the bull market matures, WIF can definitely become a multi-billion dollar coin, with 10x gains possible.
WIF is definitely amongst the best meme coins to buy.
Frogwifhat (FWIF)
A new meme coin alternative to Dogwifhat called Frogwifhat (FWIF), which features a baguette-wielding French-themed frog with a hat,
The token launched on Uniswap on Monday and hit a market cap of as much as $4 million within a few hours.
Investors now have a chance to buy the dip, with the token having pulled back to a price of around $0.0014 and a market cap of subsequently around $1.4 million.
A perusal of the frogwifhattoken.com website shows that the coin has been designed to mirror the success of Dogwifcoin, Bonk and Smog, and there are even rumors that the coin’s founders might be the same ones who are behind the other aforementioned meme coin successes.
Prospective buyers need to do their own research but there is much to like about the coin.
For starters, over $3230k liquidity has been locked. This is an important consideration for coins that list on DEXs.
Locked liquidity means there is zero chance of a rug pull, where the project team steals the funds of token holders.
Forgwifhat was also fairly launched, meaning all 1 billion tokens were immediately available on the open market.
No allocation of tokens for the development team or “marketing” purposes reduces the chances of a token dump.
Frogwifhat aims to follow in the footsteps of other coins in that it is an animal with a hat on, but this time it is a Frog Wif a Beret, the beret of course being a staple of French culture.
Check out Frogwifhat on DEXTools Here
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