Most readers will know I’m not usually the one to promote any meme cryptos to buy. Indeed, the meme madness that we’re seeing in the market is fun to watch. However, quality matters for truly long-term investors looking to build a portfolio in any asset class (including crypto). Most meme projects aren’t likely to be viable five years from now, and there is incredible uncertainty around valuation that’s hard to ignore.

That said, I’m not going to ignore that there’s a bull case to be made for why certain projects could continue to see major upside over the next five years. The crypto market has been buzzing with activity as investors anticipate a surge of capital in this space, for lower-cap meme projects, that could mean incredible upside over an extended period.

The following three projects may not necessarily be considered the mainstream meme tokens many investors are used to hearing about. But they’re projects that have something under the hood, and that’s what I like. For those looking to put some funny money to work, these are among the only cryptos to buy that might be worth considering.

Fetch.ai (FET-USD)

Fetch.ai (FET-USD) is a top AI-related crypto that has recently seen impressive price action. This is a token that’s very familiar with double-digit daily increases. With Fetch trading near an all-time high set earlier this year, it’s clear that investors who jumped on this bandwagon early are benefiting.

Like other projects with AI tailwinds (and there’s one more on this list coming up), there’s plenty of risk to be considered. It’s unclear how much AI activity will happen on the blockchain. But if we see the surge many expect, Fetch.ai could be the way to play this trade.

Analysts view Fetch.ai’s integration with Chainlink (LINK-USD) as a significant development, with the potential for AI tokens to lead the next cryptocurrency cycle. As more resistance levels are breached, even greater upside potential is possible. That’s why this token is on the list.

Most notably, the Fetch.ai and Chainlink partnership advances decentralized tech by integrating Chainlink’s secure oracle networks, enabling Fetch.ai’s AI agents to access real-world data. This expands use cases in DeFi and supply chain management. Fetch.ai’s BlockAgent tool strengthens Web3 leadership with real-time blockchain monitoring and strategic deployment.

The Graph (GRT-USD)

The Graph’s (GRT-USD) token recently surged more than 11%, testing a key resistance level, hinting at further potential growth. Unlike Fetch, The Graph is well off its all-time high, and uncertainty remains about whether this project will attempt these levels.

That said, the project’s focus on AI integrations in blockchain, enhancing data indexing, is intriguing. The Graph presents an enticing investment opportunity in the crypto realm, particularly for those focused on the plumbing behind how this space works.

Operating as an ERC-20 token on the Ethereum (ETH-USD) blockchain, GRT fuels The Graph protocol, enabling decentralized indexing for blockchain data analysis. It empowers dApp development and enhances query security, inspired by Ethereum’s principles. Since integration with Solana in 2021, The Graph has revolutionized blockchain data collection, benefiting the Solana developer community and streamlining real-time transactions.

Examining Graph price predictions from April 22, 2024, it’s crucial to note the inherent volatility of cryptocurrency forecasts. Long-term predictions, often algorithmically generated, can swiftly change. That said, a continued crypto rally could take this token much higher over the medium term.

Bonk (BONK-USD)

Despite its humorous origins from the Shiba Inu (SHIB-USD) meme, Bonk (BONK-USD) is a project many skeptics say needs more practical utility. It operates as a “meme-layer” coin tethered to Solana (SOL-USD), appealing to new investors with low entry costs and Solana’s reputation. However, Bonk’s value fluctuates with crypto hype cycles, rendering it unstable for sustained returns, especially post-NFT boom.

There are some interesting developments under the hood, and I think Bonk’s ties to Solana could bode well for this meme token in the future. Of course, this is just speculation. All meme projects look the same to me. But if I had to choose a pure-play meme token project to win out, Bonk would be a top contender.

Plenty of risks exist with withholding this token, and the other two mentions on this list, for that matter. Investors ought to do their due diligence on these projects before investing. But for those with money to put to work they don’t mind seeing burned, this could be an interesting option to consider right now, in my view.

On the date of publication, Chris MacDonald did not hold (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.