It’s been a great few days for Dogecoin (DOGE) holders, with the coin’s value rising 20% from Tuesday’s low. Even more impressively, DOGE’s uptick in momentum has come while most other altcoins are experiencing a sell-off. In this article, we take a closer look at Dogecoin’s price movements before highlighting five alternative meme coins that investors may wish to consider buying.
DOGE Price Soars as Bullish Technicals Align
At the time of writing, DOGE has soared to $0.083 – its highest level since July’s peak.
In total, the DOGE price has climbed 45% in the last 30 days, marking the token’s strongest run of form in five months.
Dogecoin has posted four bullish weekly closes in a row and looks likely to make it five this week as demand continues to ramp up.
Technical factors are driving the ongoing DOGE surge, with price breaking out of a descending wedge pattern on the weekly time frame.
This pattern has been in play since January, and its break to the upside suggests a potential reversal in DOGE’s longer-term bearish trend.
To summarize, things are finally looking up for Dogecoin holders – setting the stage for an exciting end to 2023.
Which Alternative Meme Coins Could Be the Best to Buy Now?
With Dogecoin rising, most meme coins are also experiencing an uptick in momentum.
Highlighted below are five alternative coins that could be set to match (or even exceed) DOGE’s gains:
1. Meme Kombat (MK)
First up is Meme Kombat (MK), a new meme coin attracting significant attention from investors.
This innovative project brings together the worlds of memes and battle arenas for an exciting crypto gaming experience.
Meme Kombat allows players to wager MK on meme battles to earn additional tokens and rewards.
Aside from these automated on-chain battles, Meme Kombat also provides a staking protocol for passive earnings.
The Meme Kombat presale has raised over $1.8 million in investment, with buyers piling into the Telegram community to learn more about the development team’s ambitions.
During the current presale stage, MK tokens are available at $0.205 each, a potentially attractive entry point for investors.
2. Wall Street Memes (WSM)
Next up is Wall Street Memes (WSM), which draws inspiration from the retail trading movement that stood up against Wall Street during GameStop’s short squeeze.
As a top new meme coin with high social engagement, evidenced by over one million followers across its socials, WSM allows holders to benefit financially from the community’s growth.
Not only that, but WSM also has several use cases, including being used for staking and within the Wall Street Memes Casino.
This casino platform adds to WSM’s appeal, offering over 5,000 games and crypto account funding, plus a generous sign-up bonus of 200% (up to $25,000).
Investors can buy WSM tokens from Uniswap or Tier-1 exchanges like HTX and OKX, with the token currently trading around the $0.023 level.
3. Sponge (SPONGE)
As its name implies, Sponge (SPONGE) is a meme coin based on the SpongeBob SquarePants cartoon character, although it has no official affiliation.
SPONGE aims to build a vibrant community around this beloved character and is targeting a $1 billion market cap.
Although the token has traded sideways in the past few months, momentum has recently rocketed following the SPONGE airdrop.
Boosting momentum further was the launch of the SPONGE staking protocol, which has been highly anticipated by the community.
According to CoinMarketCap, SPONGE trading volume reached over $620,000 in the past 24 hours, with the token up a whopping 281% in the past month.
Prospective investors can buy SPONGE tokens through various leading exchanges, including CoinW and Gate.io.
4. Grok (GROK)
Grok (GROK) is a meme coin inspired by Elon Musk’s venture, Grok AI, and stands out as another exciting entrant to the crypto market.
In the first eight days of its launch, GROK reached a market cap of over $160 million, driven by meme-driven enthusiasm and speculative buying.
The token’s value rocketed by over 10,000% in a week, peaking at $0.024 on Monday.
Despite controversies surrounding the developer’s past, which raised concerns within the crypto community, Grok has managed to maintain a large degree of support.
Although the token has no apparent use case, its indirect link to Elon Musk and hilarious branding make it another trending meme coin that investors may wish to buy now.
5. TokenFi (TOKEN)
Lastly, TokenFi (TOKEN) is a crypto project launched by the Floki Inu (FLOKI) team that is rapidly gaining traction in the tokenization space.
As a platform for crypto and asset tokenization, TokenFi aims to streamline the entire process, positioning itself as the go-to option for market newcomers.
Its native token, TOKEN, is crucial to the platform’s ecosystem, enabling users to create their own cryptocurrencies without needing coding expertise.
TokenFi initially launched on multiple networks, including Ethereum and Binance Smart Chain, with a total supply of 10 million TOKENs.
Despite facing challenges, the strong support from the FLOKI community has helped TOKEN reach a market cap of $29.8 million.
Currently trading at $0.029, TOKEN is another exciting coin that meme coin enthusiasts may wish to watch.