The best meme coins to put on your watchlist in the second half of 2024

The meme coin sector made great strides in the first half of 2024, with numerous tokens hitting all-time high prices and thus capturing the attention of investors.

In the following lines we will outline the best memes that have a chance to continue the impressive performance during the remaining months of 2024.

Shiba Inu (SHIB)

The second largest meme coin in terms of total market capitalization experienced a huge bull run in March, posting a triple digit price increase in a matter of weeks. Its resurgence benefited numerous holders, and one point, more than 63% of those with exposure to the asset were sitting on paper profits.

However, the joy was short-lived with SHIB heading south in the following months. Its valuation has dropped more than 25% in the past 30 days, as nearly 50% of its investors are currently underwater.

Meanwhile, several factors may put the self-proclaimed killer package Dogecoin on the green path. An example is the potential advancement of the Layer 2 blockchain solution: Shibarium.

The protocol was officially launched in August last year, with the aim of improving speed, improving scalability and reducing transaction costs. For more updates on the ecosystem, be sure to check out our Shibarium News section.

Shiba Inu burn rate could also play a role. The possible increase in the metric would leave fewer assets in circulation, which could lead to an increase in price (assuming demand stays the same or increases). At the beginning of this month, the consumption rate soared by 800%, coinciding with the brief revival of SHIB prices.

Dogecoin (DOGE)

The largest meme coin, DOGE, with a market cap of over $15 billion and one of the 10 largest cryptocurrencies, also rose substantially in the first half of 2024. In March, it was worth approximately $0.22 ( according to Coingecko data).

However, similar to SHIB, its price began to decline in the coming months to its current level of around $0.10. The decline included increased volatility and sharp price swings. In early May, for example, the asset headed north after Tesla officially integrated it as a payment option on its website.

It’s safe to assume that favorable announcements from the EV giant and its CEO, Elon Musk (who is a staunch supporter of the meme coin), may trigger another revival for DOGE in the second part of the year .

Bonk Inu (BONK)

This popular meme coin hit an ATH at the end of May and is among the few top 100 cryptocurrencies that are in the green on a weekly basis. Earlier this week, it shot up 25%, making dogwifhat (WIF) the largest meme built in the Solana ecosystem.

Although BONK saw the light of day in late 2022, it started making headlines a year later. Then, its price and market capitalization increased exponentially following huge investor interest and support from major cryptocurrency exchanges, including Binance, Coinbase, Bybit, Kraken, KuCoin and many more.

It will be interesting to see if other companies decide to adopt the asset in the second half of 2024 and if this move could lead to a rally in BONK prices.

MAGA (TRUMP)

This Donald Trump-related meme coin has been a massive hit in June, with a peak value of over $17 and a market cap that reached nearly $800 million. The price rallied in the following months, currently equivalent to around $6.

Previous demonstrations of the asset were attributed to the positive evolution of the former American president. For example, his ATH came shortly after Trump won a major court victory and was entitled to some degree of immunity from criminal prosecution.

The billionaire is running for president again, opposing the current political leader, Joe Biden, in the election this November. The latest data shows that he is ahead in the national polls by 42.2%. Biden is second with 40.1%, while Robert Kennedy follows with 9.2%.

His possible re-election may affect not only the aforementioned meme coin, but also lead to volatility in the entire cryptocurrency market. Recall that he recently described himself as the right choice for pro-crypto voters, claiming that his opponent, Joe Biden, and his administration are against the industry.

He also pledged to increase US Bitcoin (BTC) mining efforts, arguing that this is the “last line of defense against a CBDC.”

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