thecryptobasic.com
As the crypto market gears up for a potential bull run, one expert shares his list of top memecoins that investors could use to boost their portfolios by a hundred times.
The cryptocurrency market has had a mini bull run since the start of the year. The total market capitalization has added over $900 billion, with memecoins surprisingly leading the way.
Ahead of a projected bullish pattern continuation later this year, many investors are keen to find the best memecoins to boost their portfolio returns. Veteran crypto investor Bitcoin China has some ideas, recently sharing these suggestions in an update.
According to the experienced investor, the top memecoins that can deliver a hundredfold return include Dogecoin, Shiba Inu, Bonk, Pepe, Bome, Dogwifhat, and AI-inspired crypto, Grok. The list also includes new launches such as Coq and Ninja.
Handpicked Coins Lead the Pack in 2024
A close review of the memecoins shows that most of them are already leading the pack in 2024. Since the start of the year, the majority of these coins have gained in triple digits, and while all may not have the full 100-fold potential, the upside may remain attractive for speculators.
These memecoins could turn $1,000 into $100,000:
1. $DOGE
2. $PEPE
3. $BONK
4. $GROK
5. $COQ
6. $BOME
7. $WIF
8. $SHIB
9. $NINJA
Any others?👇— ฿ITCOIN CHINA 🇨🇳 (@BitcoinChina_) March 23, 2024
Dogecoin and Shiba Inu, for instance, have gained 86% and 156%, respectively, in the past three months. However, their upside potential is capped by a growing market share. For Dogecoin to grow by 100x, its price will have to rise to $17.19. At this price, its market cap is $2.4 trillion, which is nearly the same size as the entire crypto market currently.
Similarly, a 100x increase in Shiba Inu’s price would lead to $0.002778, resulting in a market cap of $1.63 trillion. These figures show that while these memecoins may have some upside potential, those numbers are essentially capped, at least in the near future.
Other coins on the list, such as Bonk (BONK), Dogwifhat (WIF), and Pepe, have risen by 28%, 1559%, and 454%, respectively, since January this year. With their lower market cap, though, the prospect of greater upside exists more than in their more valued counterparts.
Meanwhile, Grok, which was also featured on the list, has gained 160% over the same timeline. Its $100 million market cap makes the 100x increase more feasible, and such an increase puts its valuation at $11 billion, still less than Shiba Inu’s current $16 billion valuation.
However, the listed cryptocurrencies are guaranteed to reach the projected price targets or even turn profitable. Investors must carefully evaluate their risk appetite and only put in what they can afford to lose.