With the crypto market rising after a brief crash, traders are bullish on meme coins, speculating which could be next to explode.
Based on analyses from top market players, the five next meme coins to surge could be Sponge V2, Meme Kombat, Myro, Bonk, and Snek.
Sponge V2
Amid the May 2023 meme coin mania, an unsuspecting meme coin exploded to a $100 million market cap, generating early investors a 100x ROI.
The project was called Sponge and was anticipated to overtake Pepe at one point. The narrative was bolstered by notable accolades like listings on ten prominent exchanges, over 13K holders, and 30K social media followers within a few days.
However, the Sponge team is back, aiming to give the community a second shot at 100x gains with the new rendition, Sponge V2.
It comes packed with a Play-to-Earn racing game, enabling users to earn free crypto while bolstering the $SPONGEV2 demand potential.
As such, Sponge V2 could benefit from more buy pressure than the original sponge, opening the door to even more upside potential.
Crypto Gains is one of the traders bullish on Sponge V2, speculating it could “100X like the first one.”
However, Sponge V2 is not your average meme coin. Currently, it is not available on exchanges, and the only way to secure it is on the Sponge.vip website via its buy and stake campaign.
Investors’ tokens will be locked in the project’s staking contract until the campaign ends, earning an additional yield depending on the variable staking APY.
Meme Kombat
Narratives often move prices in the crypto sphere, and Meme Kombat is a new project harnessing multiple trending narratives at once.
It is a GambleFi utility token crossed with a meme coin, offering a blend of utility, viral potential, and community-focused strategies to ensure its long-term potential.
The project lets users gamble on the outcome of AI-generated battles between meme coin characters.
It features a compelling battle arena where users can watch and bet on the fights up close. This adds an immersive, gamified touch to the project, making it fun and offering a robust, unique selling point (USP) over other crypto-gambling projects.
What’s more, the incorporation of meme coins, coupled with a concentrated effort on community rewards, means we could see Meme Kombat’s brand awareness and social media reach explode.
But this is already occurring, with the team pumping out engaging and culturally relevant memes.
So far, the Meme Kombat X has amassed 14.8K followers, while its Telegram boasts 10.5K subscribers.
These factors have prompted analysts to offer exciting predictions, with Michael Wrubel forecasting it “could be the next 100x meme gaming token.”
Currently, the Meme Kombat presale price is $0.279, but this will rise once the presale hits $6.5 million, leaving little time for investors to secure the best price.
Myro
While Sponge V2 and Meme Kombat are the most promising projects yet to launch, those looking for a meme coin being actively traded should consider Myro.
Although the opportunity to get in from the ground up has passed, Myro is displaying tremendous bullish momentum, up 240% this week and 61% today.
Meanwhile, its trading volume is up 107% at $32 million, indicating immense community interest and potential for more upside.
Yet despite its already impressive move, Myro only holds a $59 million market cap, providing much room for growth compared to top meme coins like Dogecoin, Shiba Inu, and Bonk.
Myro is the third largest Solana-based meme coin, following Bonk and Dogwifhat. However, Myro is gaining tremendous pace on the Solana-based top dogs, with both in the red while Myro soars.
Looking beyond price, Myro holds notable benefits over Bonk and Dogwifhat – mainly its utility. The project aims to become the Shiba Inu of Solana by offering cutting-edge DeFi tools.
It has already launched a trading bot, enabling users to buy new Solana tokens in seconds.
Traders are notably bullish, with CoinMarketCap analyst The Billionaire suggesting it “seems like the second Bonk from the beginning before the blast to $1.7 billion market cap.”
Bonk
While Myro is on an uptrend, traders are also backing Bonk to explode. Bonk benefits from a first-mover advantage on Solana, meaning it will likely climb as SOL does. This makes it a leveraged bet on Solana, meaning it should succeed so long as Solana keeps climbing.
Bonk is down 7% today, 31% this week, and 67% from its all-time high. It holds a $107 million trading volume and a $700 million market cap.
Its recent sell-off provides a notable degree of upside potential, should it recover.
Another advantage to Bonk is that it is already listed on the leading crypto exchanges like Coinbase and Binance. This means it is easily accessible to industry newcomers, presenting liquidity not available for smaller projects.
Prominent trader Ninjascalp is one of those bullish on Bonk. In a recent tweet, the analyst explained Bonk is forming one of his favorite setups as it nears a crucial support level.
The trader writes, “$BONK – one of the favorable setups I’m still waiting for. Look, man, it’s free money… you’ll have to be patient.”
The forecast displays a swing of over 50%, pushing the Bonk price toward $0.000018 if it plays out.
Snek
The last meme coin that traders are bullish on is Snek. This is the premier meme coin on the Cardano network, offering a similar use case to Bonk in that it is like a leveraged play on the network’s native coin.
Snek is down 4.25% today and 13.1% this week but is up 205% this month.
Its recent selloff may present a timely opportunity for investors to buy ahead of the next leg up. Furthermore, Snek holds a $99 million market cap, presenting room for a 7x gain to catch Bonk.
Analyst Goofycrisp pointed out that Snek has made fundamental advancements since its all-time high, securing three centralized exchange listings and adding almost 3,000 holders.
Meanwhile, Qui notes that a “massive run” could unfold, suggesting significant room for the RSI and Stochastic RSI to run.
The analyst writes, “Watch: For the MACD cross, stoch RSI to keep climbing, RSI to cross 60 and keep climbing.
Everything plays out & a new ATH could be here in no time.”
According to the Snek website, Snek is “the chillest meme coin on Cardano” and is a deflationary token that “serves as a vital bridge for web3 onboarding.”