The ever-evolving meme coin sector could offer surprises at any time, with newly-launched tokens recording potential significant gains or established ones making waves due to impressive achievements.
In the following lines we will touch upon five such assets that may take center stage in the following 30 days and explain why.
Dogecoin (DOGE)
The OG meme coin remains one of the most intriguing topics for industry participants. It has a strong community of devoted members, while a prominent supporter of the asset is Tesla’s CEO – Elon Musk.
His comments about DOGE have often been followed by a significant resurgence in the token’s price, and it will be interesting to see whether he touches upon the matter again throughout August.
Numerous analysts have predicted that Dogecoin is gearing up for a new all-time high. The X user Ali Martinez, for instance, argued that the asset’s price has consolidated in a descending triangle in 2016 and 2021, followed by a massive bull run later.
He believes the situation looks pretty similar nowadays, expecting a significant surge in the near future. In addition, the analyst admitted he has been accumulating more DOGE lately, not selling a single coin.
JAVON MARKS was bullish, too, forecasting an ATH based on previous price breakouts. His prediction, however, forecasts a price of $10, which seems beyond the bounds of reason, at least given the current market conditions.
Shiba Inu (SHIB)
The second-largest meme coin, with a current market cap of around $9.3 billion (per CoinGecko’s data), is also worth observing this month.
Its potential rally depends on multiple factors, such as favorable market conditions and further advancement of the layer-2 blockchain solution Shibarium.
The protocol went live last August and aims to elevate SHIB above its rivals in the meme coin niche by enhancing scalability, reducing transaction costs, and improving speed.
Not long ago, it completed another huge milestone with the number of processed blocks crossing 6 million. For more updates on the ecosystem, make sure to check out our Shibarium news.
PolitiFi Memes
One should also put meme coins related to the main US presidential candidates, Donald Trump and Kamala Harris, on their watch list.
MAGA (TRUMP) generally experiences significant volatility whenever there are some major developments surrounding the candidate from the Republican party. For example, the token’s price headed north shortly after the unsuccessful assassination attempt on Trump in mid-July.
KAMA – a meme coin linked to Kamala Harris – spiked to an all-time high of almost $0.04 on July 24 following Biden’s withdrawal from the presidential race and her appointment as the Democratic nominee.
It is safe to assume that potential developments in the candidates’ campaigns in the next 30 days could trigger additional price swings for the aforementioned assets.
The post Top Meme Coins to Put on Your Watch List in August appeared first on CryptoPotato.