As Kriptokoin.com reported, the meme coin market has experienced a huge rise in the last few months. Additionally, its market capitalization briefly exceeded $70 billion. However, after the last correction, this value decreased to 64 billion dollars. According to CoinGecko, there are more than 2,300 meme coins. While some stand out with their recent price movements, others stand out for different reasons. Here are five meme coins that will show higher volatility in the next 30 days.
Dogecoin (DOGE) is First on the List
Dogecoin, the largest meme coin in terms of market value, has made significant gains recently. However, DOGE, which recorded a 17% increase last week, continues to attract the attention of investors. Tesla CEO Elon Musk’s influence played a significant role in this performance. Musk appeared at Donald Trump’s rally at Madison Square Garden last week. He also called for support for Trump in the upcoming US presidential election (November 5).
Musk reiterated his intention to establish a “Department of Government Efficiency” if Trump becomes president again. Additionally, he shared an interesting photo on the X platform. At the top, Musk showed off his muscles during the speech, while at the bottom, a muscular Shiba Inu dog (similar to the DOGE logo) took a similar stance. The election results will lead to additional price fluctuations in Dogecoin due to Musk’s possible influence. Tesla’s boss is one of the biggest supporters of this well-established meme coin.
Meme Coin Ranked 2nd on the List: Shiba Inu (SHIB)
Shiba Inu performed well at the end of October. However, it has experienced a significant pullback in the last 24 hours. Thus, it erased most of its previous gains. Still, there are some signs that SHIB may be back on the green track. For example, the SHIB burning program called Shibaraium has been revived. Additionally, the number of daily transactions on the layer-2 blockchain solution reached millions again. However, the burn rate increased by an incredible 252,900 percent per day.
These burn efforts reduce the number of SHIB tokens in circulation, creating scarcity. These developments in the Shiba Inu ecosystem continue to attract the attention of investors. It will be interesting to watch how the market reacts to this meme coin.
These Meme Coin Projects are in the 3rd and 4th ranks of the list: MAGA and KAMA
The Trump-backed MAGA (TRUMP) token and the Harris-themed Kamala Horris (KAMA) will experience significant volatility this month. It would not be surprising if MAGA rises in the event of a victory for Republican candidate Trump. Similarly, a Democrat victory will also cause the KAMA token to gain value. However, the meme coin industry is quite unpredictable. We’ll see exactly how these two tokens react following the election results.
These assets are among the rare coins that are greatly affected by political events. Due to the influence of election campaigns, both MAGA and KAMA tokens are closely followed. Crypto investors will have to develop careful strategies regarding the possible movements of these two coins.
Popcat (POPCAT) is Last on the List
Popcat (POPCAT) is one of the best performing tokens this year. Its price reached an all-time high of $1.80 on October 29. However, it is currently trading at $1.65. This represents an impressive 23,500% increase since January 1st. Popcat continues to attract intense interest from investors.
Many analysts on the X platform predict that the token will gain more value. In this context, it will be interesting to see what November will bring for Popcat.
