The upcoming Bitcoin (BTC-USD) halving is expected to occur on or around April 15 according to the most up-to-date sources. That will have the current block reward of 6.25 BTC. After April 15th miners will then be rewarded with 3.125 BTC per block mined. Many pundits expect that the lead up to the event will double the prices of some altcoins. 

Crypto investors have seen impressive price increases in Bitcoin over the past month. Prices rose above $73,000 and have since retreated back to $70,000. Time will tell but it’s entirely possible that those prices spike upward again in the coming weeks. That would serve as a strong catalyst for low priced altcoins to potentially double.

Let’s take a look at three such altcoins.

Dogecoin (DOGE-USD)

Dogecoin (DOGE-USD) used to be a deflationary asset like Bitcoin. It isn’t often talked about but Dogecoin used to undergo halvings just as Bitcoin currently does. 

Dogecoin underwent its last halving in 2014. The protocol of the project was later changed so that there  is now an unlimited supply of DOGE. It went from a deflationary asset to an inflationary asset due to that transition. That information isn’t particularly important in understanding why Dogecoin may double in the run up to the Bitcoin halving  and is instead simply an interesting piece of information.

To be perfectly honest, there isn’t any rational and predictable way to  express why Dogecoin should double in the next few weeks. However, it has traded at 60 cents in the past and currently trades for 15 cents. Past Bitcoin halvings have corresponded to price increases for Dogecoin. 

Dogecoin is the best established of the meme coins and because of that is probably the most stable as well. That’s a good thing for investors who are going to chase potential doublings as the downside risk is probably lower.

Shiba Inu (SHIB-USD)

Shiba Inu (SHIB-USD) is already up by more than 160% since the beginning of 2024. A lot of that increase is attributable to excitement around the Bitcoin having and the subsequent increase in Bitcoin prices. That also means that Shiba Inu’s prices have fallen in the recent week as bearishness around BTC emerged.

The point to note here is that Shiba Inu’s is very volatile. That means that if Bitcoin rises in price by 1% Shiba Inu’s increase is often much greater. The opposite is also true, which means that Shiba Inu has lost a lot of value as Bitcoin fell. 

SHIB is very speculative and should Bitcoin rise again Shiba Inu is bound to produce outsized returns due to that volatility. Investors should note that in order for Shiba Inu to double again it will have to eclipse historical highs, though not by much. 

Pepe (PEPE-USD)

Pepe (PEPE-USD) just may be the joke meme coin to dethrone the meme coin that dethroned the original meme coin. All I mean to say here is that Shiba Inu was once the successor to Dogecoin, the original meme coin. Perhaps then Pepe could supplant Shiba Inu in terms of popularity.

Honestly, Pepe seems like the best positioned of the three altcoins discussed here in relation to potential. It is the youngest of the three all coins and hasn’t faced the same tests that the others have. That means that investors really don’t know how high it may be able to go. Conversely, they have seen what Dogecoin and Shiba Inu are capable of in the best and worst of times over the past few years. point being, Pepe could logically rise much higher simply for the fact that it is relatively untested. 

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.