Highlights:
- Despite the bearish sentiment, DOGE remains a top pick with high interest around an ETF possibility.
- The first AI-inspired token, Goatseus Maximus, demonstrates strong performance, reaching a $1 billion market cap.
- BONK Trust, launched by Osprey Funds, offers accredited investors easy access to Solana’s memecoin.
The crypto market has faced a setback today as most coins have lost their recent gains. The bullish sentiment has been overwhelmed as the leading asset, Bitcoin, and major altcoins display bearish outlooks. Bitcoin is resting around the $86k level, while Ethereum trades around the $3,100 level.
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The bearish sentiment has declined the total market cap by 4.74%, dropping to $2.8 trillion, while the trading volume stands around $313 billion. The memecoin sector has not been left behind as most of the memecoins continue to bleed in red. Despite the overall setback, let’s explore the best memecoins to invest in right now, including Dogecoin (DOGE), Goatseus Maximus (GOAT), and Bonk (BONK).
Best Memecoins to Invest in Right Now
1. Dogecoin (DOGE)
Dogecoin is trading on a bearish note at $0.3775 as the bears hold their ground tight. DOGE has retraced by over 10% on the daily chart after the recent surge to a yearly high of $0.4300. Despite the rally cool-off, DOGE displays a positive sentiment on the weekly and monthly charts, recording gains of 80% and 230%, respectively. Moreover, the market cap and the trading volume stand at $55.41B and $34. 91B, respectively.
Tesla CEO Elon Musk and Vivek Ramaswamy have been appointed by Donald Trump to head the Department of Government Efficiency (DOGE). The new initiative is meant to trim bureaucratic waste and streamline federal operations, a goal aligned with Trump’s “Save America” agenda.
The news triggered a surge in Dogecoin’s trading volume, as activity increased by 30%. As we anticipate a market recovery, market experts believe DOGE will attract more interest and is one of the best memecoins to invest in. Musk remarked that the changes would send shockwaves through the system.
— Elon Musk (@elonmusk) November 13, 2024
DOGE’s excitement has also been fueled by speculation about a Dogecoin ETF. While DOGE doesn’t meet all applicable SEC standards, evolving regulations regarding spot ETFs might change in light of Donald Trump’s victory. According to market experts, a leadership shift at the SEC could make the approval process easier. Bloomberg’s Eric Balchunas said the ETF industry has a tendency to respond to new opportunities, and eventually, that could be good for Dogecoin despite all the regulatory challenges.
2. Goatseus Maximus (GOAT)
The new Solana based meme coin Goatseus Maximus, is catching some major hype. Despite a slight 2% drop in the last 24 hours, it has shown impressive performance over the past few days. GOAT is trading near $0.8302, having recently rocketed past its all time high of $1.01.
Interestingly, it is the very first AI-inspired token to cross the $1 billion market cap. In 2016, an unnamed Pump.fun user created GOAT as a joke, and it stayed out of the spotlight for a year before becoming a cult favorite. GOAT is now above $1 billion in total market cap, flipping Cat in a Dogs World (MEW).
congratulations to the $GOAT 🐐@truth_terminal is officially the first pump fun coin to hit a $1bn market cap 🤯
that's around 222,222x in just 1 month!!!!
this begs the question… who's next? pic.twitter.com/zMr86rXibg
— pump.fun (@pumpdotfun) November 12, 2024
Very few meme tokens have ever gotten past $1 billion dollar market cap. Many of the most popular tokens sit somewhere between $200 million and $500 million, while cult assets still pale in comparison.
Just last month, GOAT topped off at $0.97 as trading volume shot up to the highest level since October. With $1 billion tokens, its price trajectory could follow patterns of other established memes such as WIF and POPCAT. While Bitcoin keeps hitting new all-time highs, GOAT could be a subject of the next memecoin to explode.
3. Bonk (BONK)
BONK has shown resilience despite the broad market slump. Over the past 24 hours BONK has surged by over 3% to trade at $0.0000335. BONK has had an impressive journey recently, surging by 50% on the weekly chart. The market cap and trading volume stands at $2.50B and $2.16B, respectively.
In October, Osprey Funds introduced the BONK Trust, providing easy access to Solana’s memecoin BONK. This investment option caters to accredited investors, who earn at least $200,000 annually or $300,000 with a spouse. A net worth above $1 million also qualifies. Licensed brokers or advisers can invest as well. Companies must hold $5 million in liquid assets or have accredited owners.
BREAKING: @OspreyFunds’ SOLANA MEMECOIN $BONK (@bonk_inu) ETP HAS BEEN APPROVED AND IS LIVE pic.twitter.com/cfPQm8UMpk
— DEGEN NEWS (@DegenerateNews) October 16, 2024
The minimum investment is $10,000, making it manageable for crypto entry. Investors avoid managing wallets and keys. Osprey, known for over 100 exchange-traded products, ensures secure fund management and crypto exposure.
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