In a bearish market, the coins with the most upside potential are typically meme coins. The coins that move less with Bitcoin price action and more with the tides of social media trends and the tidal forces of memes online.
Pepe has already skyrocketed 1,000,000% in 2023. Purely due to the community’s love of memes and the power of apeing in on a popular project.
In today’s climate, similar projects might be the best bet for a major, outsized gain. But which meme projects still have room to make that kind of upward move?
Shiba Inu
While Shiba Inu is a widely-known meme coin project, SHIB coin has seen a major price correction following the price spike seen in 2021 and is now almost down to its original price range again.
This coin could be majorly oversold, with massive upside potential once again on the cards for a project that has already shown itself capable of massive gains.
El Hippo
El Hippo is a new meme coin, posted 109% gains in its first month.
While the project is not yet fully established, the early gains are promising, as is the team’s statement that funds are being spent on influencer relationships and exchange listings. With 30,000 followers on social media and $4 million in market cap, the project is off to a good start, although only time will tell if it has what it takes to make it to the big leagues.
Dogelon Mars
Dogelon Mars is essentially between the SHIB and HIPP in size and popularity. With $73 million in market cap, the project is no small fish. It has seen similar price action as SHIB in terms of a major price spike followed by a heavy correction.
Many crypto users have already seen hefty returns with Dogelon Mars. And there’s no telling where the price will go from here. It currently sits 78% below its all-time high seen in 2021. Meaning the sky is the limit when restoring itself to its former glory.
Buying Undersold Meme Coins
Getting in on the right meme coin early is a one-way ticket to the best gains available throughout the entire crypto space, as evidenced by the success of PEPE coin.
While its easier said than done, the three coins listed here are either so new or so far below their all-time high that they have the potential for massive upside price movements under the right conditions.
