Crypto assets are surging in recent weeks.
The Fear and Greed Index at 73 indicates a market rush and a high probability of multiplying every invested dollar. Investors expect an influx of new liquidity, which may bring new blockchain projects into the market. It is still a good choice to follow only the cryptocurrencies with the highest capitalization. But their dominance is also the reason for their overbought status.
On the other hand, the trends of the current bull run are in favor of meme coins. Although some young and ambitious tokens have not shown their highs, they have increased the efficiency of traders’ portfolios. While the crypto community is waiting for Bitcoin (BTC-USD) to reach $100,000-110,000, meme assets offer an alternative in the form of 10 and even 1000-fold increases in value.
It remains to analyze the available offers of meme cryptos to buy the promising ones.
Coq Inu (COQ-USD)
The Avalanche (AVAX-USD) network is experiencing a surge in the number of active users and daily transactions. The lion’s share of the success is due to Coq Inu (COQ-USD), which strategically uses this blockchain with high capacity and low fees.
Also, 40%-60% of all meme currency transactions on the network are conducted with this meme coin. This underlines the level of involvement of the Avalanche community in the project. In response, COQ gives all the power to the public, as the entire coin supply has been available on the market since the project’s launch in 2023. This approach stands out from the rest, with a focus on a community that puts the interests of its members above profit.
And, power decentralization manifests in the absence of a predefined roadmap or team that would claim a significant share of the project’s profits. This found recognition among blockchain enthusiasts, which led Coq Inu to the list of meme cryptos to buy.
Further, COQ showed its effectiveness brightly in March 2024, when the token reached a 47,000-fold increase in value. At that time, the price surge in two weeks multiplied investors’ capital by four times and brought the project out of the shadow of its bigger brother, Avalanche. The coin began to actively recover after a market-wide correction period, confirmed by the surge in trading activity.
It has grown from $6 million to $17 million over the past 7 days, thus helping Coq Inu’s market cap to cross the $200 million mark. The listing on OKX DEX opened up the project to a wider range of traders, which means that COQ may take off to new heights.
DOG GO TO THE MOON (DOG-USD)
At the 116th position of the market capitalization ranking, crypto enthusiasts meet DOG GO TO THE MOON (DOG-USD), which managed to capture the hearts of thousands after its grand debut on April 24, 2024.
The coin is issued on the young Runes protocol and is ideologically linked to Bitcoin (BTC-USD). DOG aims to make Bitcoin use as common as having a pet. It has become the most popular token on the protocol and, after a month of stabilization, is pleasing investors with its steady growth.
The basis of DOG’s success was its unique launch strategy, which allowed it to achieve rapid distribution while avoiding a significant price drop. The project distributed 100 billion tokens to more than 75,000 Runestone Ordinal NFT holders, which led to a rush and high interest in the market. The pre-sale of centralized commands did not affect the price of DOG GO TO THE MOON, as it happened with other cryptocurrencies. As a result, the community did not see any sharp price fluctuations during the market launch. The token is showing a stable recovery trend in terms of both price and trading activity.
In mid-May, $2.8 million worth of transactions could occur daily, while this value is above $78 million at the end of the month. This can make DOG one of meme cryptos to buy due to its freshness and untapped potential. The current rise of digital assets can show the true capabilities of the coin, as it has shown a 3-fold increase to $0.0074 over the past 2 weeks.
MANEKI (MANEKI-USD)
The take-off trajectory of a token can only become clear over time by obvious indicators, such as the growth of its capitalization. Growth trends show up earlier due to market interest and investor analysis via cryptocurrency data providers.
Summarizing weekly results in May, CoinGecko noted that MANEKI (MANEKI-USD) is at the top by the number of requests. A month after the listing was enough for hundreds of thousands of traders to become interested in the token. Taking this into account, it becomes clear why MANEKI brought holders 51.06% profit on the monthly timeframe and does not stop at this point.
MANEKI managed to outshine such competitors as OctaSpace (OCTA-USD) and GameStop (GME-USD), fully overcoming the turbulence in the first half of May 2024. The reason for this is not only the trend of meme coins, as animal-themed projects have become widespread, and demand for them has sprayed across hundreds of projects.
The MANEKI team is consistently implementing strategic initiatives and expanding its cultural reach. For example, the project is already releasing a manga series in collaboration with artist Takumi, who is known among fans of comics and graphic novels. MANEKI has obtained global trademark rights in more than 50 countries, installs billboards in major cities and continues to release anime teasers. Viral videos on social media, regular interactions, and reviews have created a strong community around the coin, with 56,000 readers on X and 172,000 followers on TikTok.
On the date of publication, Julia Magas 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.
