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Meme coins are rising again, with Shiba Inu, KangaMoon, and Bonk leading the surge. Amid increasing investor interest, experts hint at possible new highs in 2024.
After a short consolidation, meme coins are surging once again. Shiba Inu, KangaMoon, and Bonk have led the way with significant price rises over the last week. This has triggered an influx of new meme coin investors, and some experts believe that all three projects could hit all-time highs in 2024.
Bonk experiences second price rally
Bonk suffered a price dip on March 3, before entering another bull run. Since this decrease, Bonk has increased in value by 40.76%, and Bonk is now trading at $0.00003231. This recent increase has taken Bonk’s monthly returns to 217.73%, and now investors are buying more Bonk tokens than ever.
Over the last 24 hours, Bonk’s daily trading volume has increased by 29% to $823.45 million, making Bonk one of the world’s most traded meme coins. However, some experts are asking whether this growth is sustainable.
Given that Bonk lacks utility and real-world applications, experts believe it could crash once the current bullish market trend slows.
Can Shiba Inu overtake Dogecoin in 2024?
The Shiba Inu ecosystem experienced exponential growth over the last year. The meme coin launched several new projects, including a dedicated Shiba Inu magazine and Shibarium, Shiba Inu’s Layer-2 platform.
Now, Shiba Inu’s price is catching up to its utility. Over the last two weeks, SHIB has soared by over 250%, with a 166% increase over the last seven days. This has taken Shiba Inu’s price to $0.00003519, and its market cap is $20.74 billion.
Shiba Inu’s recent price rally has triggered a significant increase in SHIB activity. According to IntoTheBlock, the number of active addresses linked to Shiba Inu has doubled since the start of March, reaching 21,000 wallets.
In addition to its price increase, Shiba Inu token burning has also increased by over 30,000%. Experts believe that this significant increase has helped to support SHIB’s recent price rally.
As the meme coin continues to grow its ecosystem, experts believe that Shiba Inu could dethrone Dogecoin due to its growing utility and ecosystem.
KangaMoon’s experiences big presale attention
KangaMoon (KANG) has made headlines over the past month. Its presale has now approached over $920k in funds raised, set to hit $1,000,000 in days, which marks another significant milestone for the project.
This shows that KangaMoon is gaining widespread global attention, which is attracting hundreds of new investors to the project every day.
KangaMoon offers greater utility than other meme coins. It combines P2E gaming opportunities with social-fi elements to stand out in a highly competitive market.
As part of its game, investors will be able to control and battle characters, as well as place bets on who they believe will win events.
The project’s social-fi features will let users earn rewards by completing weekly, monthly, and quarterly challenges. These rewards will include in-game items and $KANG tokens, helping investors build their portfolios.
KANG tokens are currently selling at $0.01125, and recently hit a new all-time high. Experts speculate that $KANG could see a 100x pump once listed on tier one exchanges and as a result many investors are choosing KangaMoon over traditional meme coin options.
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