Here are the Top 5 Meme Coins to Watch in May
TL;DR
- dogecoin (DOGE) is facing a weekly price decline of 15% but is showing recovery potential with an increase in non-empty wallets, indicating increased demand.
- Shiba Inu (SHIB) and bonk Inu (BONK) are also showing signs of resurgence; SHIB through network upgrades and token burns and BONK with a significant price increase position it among the top 5 meme coins.
The meme coin industry has suffered heavy losses recently, with its market cap falling well below $50 billion. Dogecoin (DOGE), the largest asset of this type, is deep in the red, with its price down 5% on a 24-hour scale and 15% on a weekly basis.
DOGE Price, Source: CoinGecko
However, trends may change in May, resulting in a new rally for the dog-themed token. One factor that points to such a scenario is the increasing number of non-empty DOGE wallets. Like CryptoPotato reportedThese addresses exceeded 54 million with an increase of 13.8% in the last three months.
An increase in this metric indicates increased demand. Basic economic principles suggest that the price could move north because of this (assuming supply remains constant).
Popular X users Ali, JAVON MARKS, and Mikybull Crypto are among analysts predicting a significant bull run for DOGE in the short term. Ali requested If reflected, the value of the asset could reach the $1 milestone. performance years ago.
shiba inu (SHIB)
self-proclaimed dogecoin killer Another meme coin that has experienced a significant price decline recently.
SHIB Price, Source: CoinGecko
Still, it could get the next month off to a good start due to a number of fundamentals. An example of this is the revival of the layer-2 scaling solution – shibarium. The network underwent a major upgrade last week and is to arrange to go past Another one on May 2.
SHIB’s incineration program increasesmorecaused millions of tokens to be removed from circulation. The ultimate goal of the mechanism is to make meme money more scarce and potentially more valuable. inside time.
pepe (PEPE)
The frog-themed asset is among the few assets in the green on a two-week scale, but is still declining on a 7-day basis. Increasing volatility and growing community base, taken into account While trying to predict the top performers of May.
PEPE Price, Source: CoinGecko
PEPE recently It was fully appreciated From multiple cryptocurrency exchanges including Coinbasewith him price reacting Positive after explanations. additional support in the near future It could trigger a new rally.
Dog Hat (WIF)
This This the biggest The meme coin is based in solana and is the fourth largest in the region, with a market cap of approximately $2.5 billion.
WIF Market Cap, Source: CoinGecko
Cryptocurrency exchanges activated Trading services with WIF include: BinanceOKX, Bybit, bitget, Crypto.com and others.
Additionally, the asset has received support from BitMEX co-founder Arthur Hayes, and its community has become increasingly creative. A long time ago, supporters raised $650,000 to put the WIF logo on the Sphere, the famous entertainment arena in Las Vegas, Nevada.
Bonk Inu (BONK)
This token recently converted Floki Inu (FLOKI) club top 5 the biggest breast coins. It is the second largest asset of that kind It is built on the Solana blockchain and has a market capitalization of over $1.5 billion.
BONK is also among the best performers in the crypto market inside Despite the general correction, its price increased by over 50%.
BONK Price, Source: CoinGecko
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