As Bitcoin (BTC) continues to rise above $68,000 and approaches its all-time high, major meme coins are also experiencing significant increases in value. However, as their valuations become overinflated, traders are now searching for lesser-known alternatives that could potentially be the best crypto meme coins to buy at the moment.
Some of the top-performing meme coins on Friday include Floki (FLOKI), Pepe (PEPE), dogwifhat (WIF), Bonk (BONK), Shiba Inu (SHIB), and Dogecoin (DOGE), all of which have seen gains between 10% and 60% in the past 24 hours, according to CoinMarketCap. However, the market caps of these meme coins now exceed $2 billion, with Dogecoin and Shiba Inu having market caps above $20 billion. This suggests that the potential for further upside gains is becoming more limited.
Investors in meme coins are therefore looking for smaller-valued alternatives with high potential for growth. Here are a few meme coins that are being considered as the best crypto meme coins to buy at the moment:
Scotty the AI ($SCOTTY)
Scotty the AI is a new Ethereum-based meme coin with a dog theme. However, Scotty stands out from other dog-themed meme coins like Dogecoin, Shiba Inu, and Bonk because it offers utility beyond just being a meme. Scotty features an agile threat-detecting artificial intelligence (AI) system that ensures the integrity of the cryptocurrency space by detecting potential threats, suspicious transactions, network anomalies, and security breaches. Additionally, Scotty rewards its supporters with its unconditional loyalty as an on-chain, AI-powered guard dog. The meme coin also includes a security chatbot and will be featured in an upcoming play-to-earn (P2E) game.
Scotty the AI recently launched an initial coin offering (ICO) and has already raised over $4 million. With a total supply of 1,734,567,890 tokens, investors can purchase Scotty for $0.00803 per token, resulting in a market cap of around $14 million. If Scotty successfully establishes itself as a well-known meme coin, it could easily reach a market cap of $200 million or more. This makes Scotty one of the best crypto meme coins to consider buying now.
Smog (SMOG)
Smog is a meme coin based on the Solana blockchain that has been gaining attention lately due to its price surge. Since late February, the price of Smog has increased nearly 8x, resulting in a market cap of $270 million. Smog is known for promoting itself as offering Solana’s largest airdrop. Traders can qualify for the airdrop by buying and holding Smog on Solana or by staking the token on Ethereum. Despite its relatively modest market cap, Smog already has a strong community with over 60,000 holders. Given the recent excitement surrounding Solana airdrops, Smog could attract significant interest in the coming weeks. This meme coin has the potential to deliver at least 10x gains to investors.
Sponge (SPONGE)
Sponge, a legendary meme coin, has made a comeback in 2024 after migrating to the Polygon blockchain. Since its migration, Sponge’s price has increased by over 400%, resulting in a market cap of just over $147 million. Sponge stands out from other meme coins as it offers a passive income opportunity and serves as the native token for a play-to-earn (P2E) racing game. Investors who stake their Sponge tokens can earn yields of up to 650%. Additionally, the P2E game allows players to compete for ranks on a global leaderboard, with racing rewards being paid out in Sponge V2. The Sponge website teases that it will soon be launched on larger and better exchanges, which could attract a wave of new buyers. With a market cap of under $150 million, Sponge has the potential for 10x or even 100x upside gains.
It’s important to note that investing in meme coins, like any cryptocurrency, carries significant risks. The information provided in this article is for informational purposes only and should not be considered investment advice.
