It’s been an eventful week in the meme coin market, with most coins and tokens seeing significant price growth.
Floki (FLOKI) has soared by 25% since Thursday morning, while Pepe (PEPE) is up 80% in the past week.
In this article, we take a closer look at these two coins before presenting three alternative tokens that could be primed to explode next.
Floki & PEPE Rise as Meme Coin Market Heats Up
Floki, named after Elon Musk’s pet Shiba Inu dog, is currently ranked the world’s fourth-largest meme coin, boasting a market cap of $368 million.
FLOKI’s value has risen 25% in the past 24 hours and an impressive 109% since last Friday, making it one of the biggest gainers in the meme coin space.
Like most surging meme coins, FLOKI’s rise has nothing to do with ecosystem developments or innovations.
Instead, the coin’s value seems driven by social media hype and speculation, resulting from improved sentiment in the meme coin market.
PEPE is also benefiting from an uptick in investor sentiment, soaring to the $0.00000135 level on Thursday.
Although PEPE’s price has pulled back slightly, the token is still clearly in an uptrend, with investors excited to see how high it can go in the coming days.
As the meme coin market continues to heat up, both FLOKI and PEPE serve as prime examples of assets likely to be in high demand as cryptocurrencies become more popular with speculative investors.
Which Meme Coins Could Explode Next?
The two tokens above show that meme coins can experience colossal rises thanks to investor buzz alone.
While predicting the next breakout star in this volatile sector is challenging, here are three contenders currently capturing the community’s attention:
1. Meme Kombat (MK)
First up is Meme Kombat (MK), which brings an explosive new element to the meme coin space by integrating gaming and staking features.
This innovative platform allows users to bet on AI-powered battles between meme characters, with the outcome of each battle determined using blockchain technology.
Meme Kombat offers dual benefits – active betting provides opportunities to win more MK tokens, while its staking protocol promises an attractive passive income with 112% APY.
Season 1 of Meme Kombat will feature 11 top meme mascots going head-to-head, with future seasons adding more characters, game modes, and ways to earn.
Moreover, given that Coinsult has audited the platform’s smart contracts, it adds an extra layer of trust for users who wish to benefit from Meme Kombat’s features.
Meme Kombat’s unique setup is catching investors’ attention worldwide, as evidenced by the strong presale momentum with over $770,000 already raised.
Early investors can buy MK tokens through the presale for $0.1667, although this low price point is scheduled to last only for six more days before increasing
2. Wall Street Memes (WSM)
Next up is Wall Street Memes (WSM), which merges the viral appeal of meme culture with themes from Wall Street and finance.
This setup led to massive success during Wall Street Memes’ presale earlier this year when the project raised an incredible $25 million in early investment.
Following the presale, the WSM token was listed on an array of Tier-1 exchanges, leading to a strong market debut and sizable investor returns.
On top of offering speculative potential, WSM holders can also stake their tokens to earn yields of 39% per year – with over 517 million tokens pledged to the staking pool.
Wall Street Memes’ creators recently introduced a new use case – the Wall Street Memes Casino, which uses WSM as its native token.
This casino features over 5,000 games and offers a sign-up bonus of 200%, up to a total of $25,000.
With WSM’s value up 22% in the past week, the project is showing strong momentum in the final weeks of 2023.
Interested investors can buy WSM tokens through Uniswap or several CEXs, including Gate.io and OKX.
3. Sponge (SPONGE)
Lastly, Sponge (SPONGE) is a meme coin launched earlier this year based on the iconic SpongeBob SquarePants character.
The coin attracted enormous interest in May when it listed on Uniswap, soaring over 4,000% in less than one week.
Although SPONGE is now trading 95% below its all-time high, there’s growing belief within the community that the token could be set for a comeback, given the development team’s latest updates.
Among these updates are a staking protocol for SPONGE, set to launch on November 1, and an ongoing airdrop campaign.
This airdrop campaign is open to entries until October 30 and aims to distribute up to 10% of the total SPONGE supply, representing 4.4 billion tokens.
Community engagement has risen significantly due to these two announcements, with SPONGE’s value increasing 17% in the past week.
As such, it appears that investor interest is growing again – positioning SPONGE as another token that could explode next.
Prospective investors can buy SPONGE tokens through Uniswap, CoinW, and other top exchanges.
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