Last year was a rocky one for many meme coins, with massive volatility and significant price corrections making trading conditions challenging.
However, there are signs that several top meme tokens could be primed for growth in 2024 as worldwide crypto adoption ramps up.
This article will present five trending meme coins and discuss analysts’ bullish projections for the next 12 months based on fundamental and technical factors.
1. Sponge (SPONGE)
Kicking off our bullish meme coin price predictions for 2024 is Sponge (SPONGE).
SPONGE took the meme coin market by storm in May 2023 with its hilarious branding and social media buzz, producing almost 100x returns for the earliest investors following its Uniswap listing.
However, SPONGE lacked real-world utility – and the developers seek to address that limitation through the upcoming release of Sponge V2 (SPONGEV2).
This enhanced token will bring in much-needed use cases, including being integrated into a play-to-earn (P2E) racing game currently in development.
Importantly, those already owning SPONGE can stake their tokens to acquire SPONGEV2 – with yields currently set at 493% per year.
Investors who don’t hold SPONGE can buy tokens through the official sponge.vip website, which are automatically staked to earn SPONGEV2.
The impending launch of SPONGEV2 has brought renewed hype to the Sponge ecosystem, prompting the original SPONGE token to surge over 51% in the past month.
YouTube analyst ClayBro even made reference to the “huge rewards” that could be on offer for those who participate in the Sponge ecosystem.
If this momentum continues, members of the Sponge Telegram community believe the token could return to its all-time high of $0.0023 in the coming year.
Some SPONGE holders also believe that SPONGEV2 could produce even higher returns once listed on exchanges – which is why meme coin enthusiasts are looking to buy Sponge tokens before their open market debut.
2. Meme Kombat (MK)
Another meme coin that could be set for a bullish 2024 is Meme Kombat (MK).
Still in presale and set to launch later this year, Meme Kombat brings GameFi elements to the meme coin space.
The concept is simple – users can purchase MK tokens and wager them to bet on fight outcomes between classic meme characters like Doge, Pepe, and Shiba Inu in a virtual battle arena.
Users who pick the winning fighter will be rewarded with additional MK.
This unique gaming and meme coin mashup has drawn massive attention from investors, helping Meme Kombat’s presale raise over $5.7 million so far.
The presale’s hard cap is set at $10 million – meaning there is still an opportunity for interested investors to get in early before the token goes live on Uniswap.
If Meme Kombat can achieve even a fraction of the success of top meme coins, it could see exponential gains once live trading begins.
YouTube analyst Michael Wrubel even gave a bullish price forecast for MK, speculating that it could 100x from its presale value.
Early investors can buy MK tokens for $0.268 during the current stage of the presale – although this stage is only set to last for two more days before the price increases.
3. Dogecoin (DOGE)
Shifting to more established players, no discussion about bullish meme coin forecasts would be complete without mentioning Dogecoin (DOGE).
As the original meme cryptocurrency that captured mainstream attention back in 2021, DOGE has proven more durable than many of its successors in the years that followed.
While still far below its all-time high of $0.73, DOGE has stabilized in recent months and is now hovering around $0.092.
With the largest community in the meme coin space, plus over 2,500 merchants worldwide accepting it as a payment method, DOGE has a strong chance of posting gains in 2024.
Myles G on YouTube even predicted that DOGE could hit $1 this year if market conditions turn favourable.
Although this would require DOGE to increase by around 10x from its current price, the coin has proved capable of such price surges in the past – making it another meme coin worth watching in the year ahead.
4. Bonk (BONK)
Bonk (BONK) has taken the meme coin market by storm in the past two months, surging over 3,100% and flipping Shiba Inu in the daily volume rankings.
Much of BONK’s success can be attributed to the hype around the Solana blockchain, which saw exponential growth in the last few months of 2023.
As a dog-themed meme coin built on Solana, BONK was well-positioned to ride the wave of interest in faster and cheaper alternatives to Ethereum.
The coin also benefited from viral traction on social media platforms like Twitter, helping promote BONK to new audiences through memes and influencer partnerships.
Given its traction, prominent Twitter personality Bill King has speculated that BONK might hit $0.015 in the coming weeks, which would represent an explosive rise from the token’s current price.
Although hitting $0.015 in such a short time might not be feasible, King’s prediction once again highlights the community’s optimism about BONK’s future.
5. Memecoin (MEME)
Lastly, Memecoin (MEME) is an Ethereum-based meme coin created by 9GAG that was first revealed in June 2023.
MEME was officially launched through Binance Launchpool in October, with a generous airdrop of tokens to existing community members helping fuel social media hype.
Following MEME’s exchange debut, the token soared due to the increased liquidity, helping it hit an all-time high of $0.047 on December 6.
Although the token currently has no use case, this hasn’t stopped investors from purchasing MEME tokens in the hope of achieving market-beating returns.
Thanks to the sustained buzz, Twitter analyst Crypto GVR, who has more than 110,000 followers, recently forecast that MEME’s price could soar to $0.20 “soon.”
Given that MEME regularly experiences over $60 million in daily trading volume, it’s clear the token has captured significant attention in the meme coin market – setting it up for what could be a successful 2024.
