In this blooming world of cryptocurrency, a bull run is one of the most significant events that crypto enthusiasts are waiting for. It is a long extended period when the overall stock price is on the rise.
The 2024 bull run kicked off on July 6th of this year and is most likely to extend till 2025. As this bull run continues, various reports suggest that meme coins are gearing up to take the market.
What are meme coins?
Meme coins are a type of cryptocurrency inspired by various internet memes, characters, or trends in social media. Even though they are highly volatile, they are gaining traction these days due to the high return possibility of the coin.
They are typically backed by enthusiastic online communities and are intended to be light-hearted and fun. They can be quite profitable, but also is highly volatile as any other cryptocurrency.
Top meme coins to look out for this year
As the bull run progresses, based on various reports, we can clearly say that it is going to have a tremendous impact on the meme coin market. As the Federal Reserve has cut interest rates, we saw various cryptocurrencies, like Bitcoin, creating a huge surge in the market. Now it’s time for the meme coins. There are strong indications that the meme coins prices are going to increase at an alarming rate in this month’s (October) bull run.
Here we are going to discuss a number of meme coins that have a high probability of rising to the top in the crypto market during this year’s bull run.
Dogecoin
Dogecoin, the original meme coin is one of the top contenders in the crypto meme coin market. It is an open-source, peer-to-peer token that was launched in 2013, pretty much as a joke against Bitcoin, and since then, it has come so far.
The current market value of Dogecoins is $0.1223, and a total market capital of 17.9 Billion.
Backed by its strong community, which even includes the famous multibillionaire Elon Musk, it has a high potential to rise in the market during this month’s Bull race.
PEPE Coin
PEPE coins is a meme coin that has recently entered the market and since then has swiftly settled its place as one of the top contenders in the meme world. The current price of this coin, which was inspired by the famous “Pepe the Frog”, is $0.00001141 with a market capital of $4.79 billion. While investing in meme coins, pepe coin is one of the top choices of various crypto enthusiasts, since it has gained huge popularity since its release on April 17, 2024.
Bonk
Bonk token, which was launched by the Solana blockchain has already distinguished itself as a key coin of the meme world with its airdrop, in which 50% of the total supply was given to the Solana community. Bonk has a maximum supply of 1 billion tokens, out of which 65% was burned, which resulted in the coin gaining even more value in the market. With a current market value of $0.00002494 and a market cap of $1.76, Bonk coin has already stated that it is here to stay.
Floki (FLOKI)
Floki is a cryptocurrency and utility token that can be used on both Ethereum and Binance Smart Chain (BSC) platforms. It is the native currency of the Floki ecosystem. The Floki cryptocurrency which was first introduced as a meme coin has since then evolved into a fully developed web3 project covering various DeFis, and NFTs, and has recently introduced its own metaverse. With a market value of $0.0001644 and a market capital being $1,577,533,869, Floki is already a major contender in this month’s meme coin market.
Wall Street Memes (WSM)
The Wall Street Memes token is a meme coin that originated from the WallStMemes Web2 internet phenomenon. It was a community-driven coin that was designed with the aim to strengthen the general public who invest in cryptos and to make financial services accessible to everyone. With a total market supply of 2 billion and a current market value of $0.003107, there is a high chance its price may exponentially increase during this bull race.
Dogwifhat (WIF)
The Dogwifhat is a meme coin built on the Solana blockchain, which was launched in November 2023. The coin’s community-driven approach and the 1%burn rate on transactions could increase the scarcity of the coin and also the demand, which may result in the price of the coin going even higher. The current market value of the coin is $2.4 with a market cap of 2.46 billion and a total of almost 1 billion in circulation, it has a high potential to grow in these coming months with the bull run.
How do you buy meme coins?
There are 3 ways to buy a meme coin in the crypto market. They are:
Presales and ICO
You can buy meme coins by participating in presales and initial coin offerings. In this method, you can buy new meme coins before they hit the market at a presale rate. The steps involved in it are:
- Go to the presale page for a coin.
- Connect your wallet in order to purchase the tokens.
- Select how many tokens you want to buy.
- Verify your transaction and the coins will be added to your wallet.
Centralized Exchanges
The second way is to buy them from centralized exchanges like Binance. These exchanges will trade the meme coins to the public when they reach a certain popularity. The steps involved in purchasing the meme coins from such exchanges are:
- First, you have to choose a centralized exchange.
- Create an account in the chosen exchange and complete the KYC verification.
- Now, you have to choose a budget and deposit the funds on the exchange you have chosen.
- Search for the meme coin in the exchange.
- Select how many tokens you want to buy and place the order.
Decentralized Exchanges
The last option to purchase the meme coins is through various decentralized exchanges like Uniswap.
- Depending on the blockchain you’re using, choose an exchange.
- Connect your wallet to the exchange.
- Now search for the meme coin you want to purchase.
- Specify the amount and choose a trading pair.
- Confirm the transaction.
Conclusion
The Crypto industry has been booming these past months with the Bull Run, along with it various meme coins have also gained traction. In this article, we have already discussed various meme coins and their current market worth and supplies, and also how to buy them. If you’re interested in buying meme coins, then it is necessary to conduct thorough research before you proceed also keep in mind that the coin value depends on various market factors and is highly volatile.
