Top 5 meme coins to watch this month

The meme coin sector has risen substantially in recent months, with a market capitalization that briefly topped $70 billion a few days ago. The figure currently stands at around $64 billion after the latest correction.

According to CoinGecko, there are more than 2,300 meme coins, with some gaining prominence due to their recent price changes and other reasons. In the following lines, we will focus on five intriguing assets that may experience increased volatility in the next 30 days.

Dogecoin (DOGE)

The leading meme coin in terms of market cap has been leading the gains lately, rising 17% in the past week.

Price DOGE, Source: CoinGecko

One factor that possibly contributed to its solid performance was Elon Musk’s interaction. Last week, the Tesla CEO participated in Donald Trump’s rally at Madison Square Garden, urging people to vote for the Republican candidate in the upcoming US presidential election (scheduled for November 5).

He reiterated his intention to lead a Department of Government Efficiency (DOGE) if Trump were to become president again. Last but not least, Musk posted an interesting photo of himself on X. The top half of the image shows the billionaire flexing during the public speech, while the bottom half shows a muscular Shiba Inu breed (which resembles the DOGE logo) with a similar stance.

The outcome of the vote will perhaps trigger further volatility in Dogecoin prices, given Musk’s possible involvement. The Tesla boss is known as a big supporter of the OG meme coin, often extolling its merits and extolling its popularity.

Shiba Inu (SHIB)

The second largest meme coin also performed quite well at the end of October. However, it experienced a major pullback in the last 24 hours, erasing much of the previous gains.

The resurgence of Shibaraium, the SHIB burning program and other elements, however, suggest that the price of the asset could soon return to the green track. As recently reported by CryptoPotato, daily transactions on the Layer 2 blockchain solution are back in the millions, while the burn rate soared by a staggering 252,900% on a daily basis.

Continued efforts in this field will leave fewer SHIB tokens in circulation, creating scarcity and potentially increasing the price (assuming demand remains the same or increases).

MAGA and KAMA

Trump-related MAGA (TRUMP) and Harris-themed Kamala Horris (KAMA) are likely to experience substantial turbulence this month.

It will not be surprising that the former rises in case of victory of the Republican candidate, while the latter can bomb if the Democrat is victorious.

However, the meme coin industry itself is quite unpredictable and we have yet to see the exact reaction of these particular tokens after the announcement of the final results.

POPCAT

The largest cat-themed meme coin, Popcat (POPCAT), is among the market’s top performers this year. Its price hit an all-time high of nearly $1.80 on October 29 and is currently worth $1.65 (which represents a 23,500% increase since January 1).

POPCAT Price, Source: CoinGecko

Crypto X is full of analysts predicting additional gains for the token in the near future. One enthusiast who goes by the nickname “shah” believes that POPCAT will “take the rest of the cute cat memes to Valhalla.”

That said, it will be interesting to see what November holds.

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