History has seen meme coins ranking among the top cryptocurrencies to invest in during bull markets. In 2021, coins like Dogecoin and Shiba Inu surpassed the broader cryptocurrency market.
As a result, many investors once again turned to meme coins.
Analysts have agreed on the beginning of a new bullish market.
In this article, we will explore why Dogecoin, Shiba Inu, Floki, Bonk, and Galaxy Fox have attracted attention. The currency Dogecoin ($DOGE) could witness a massive breakthrough in previous bull markets, experiencing significant price increases. Despite Dogecoin facing challenges in 2023, a leading analyst predicted a potential breakout for the meme coin.
This suggests that savvy investors are expecting significant price increases. If DOGE breaks the resistance mark of $0.0786, it may rise to the target of $0.0850. Indeed, $DOGE is witnessing increased activities among whales, according to Santinent’s report.
For the bullish market, some analysts forecast an all-time high for the leading meme currency to reach $1.
Shiba Inu’s development activity supports the bullish run.
In 2023, Shiba Inu led development activities among meme coins. The project launched the second-layer network (Shibarium), artificial intelligence products, and the identity network. With more products added to the Shiba Inu network, analysts anticipate further price gains for SHIB, forecasting a 2x increase to $1 by mid-December, making Shiba Inu one of the best cryptocurrencies to invest in.
Floki ($FLOKI) receives an upward rating with increased momentum in staking processes.
Floki Inu is one of the top cryptocurrency investments in 2023. Since the beginning of the year, the meme coin has gained over 350%, surpassing Bitcoin and Ethereum. According to analysts, this impressive price performance of FLOKI may continue.
In October, Floki launched a staking rewards program for its community, which gained attention. The 30-day Market Value-to-Realized Value (MVRV) rate has already risen to 96%, meaning savvy investors who bought last month have seen a 96% profit. Analysts at FXStreet anticipate short-term price increases of up to 70% for FLOKI.
Bonk outperforms the best Meme currencies.
Bonk has been a dark horse in the cryptocurrency sector. On the monthly chart, the meme coin has gained over 1300%. According to market analysts, the price of BONK has risen in parallel with Solana, which has achieved more gains than other alternative coins.
Bonk is a meme coin with a dog theme on the Solana network. The meme currency has also formed a golden cross on the daily chart. This upward formation may lead to continued price increases for BONK.
Although Bonk has already achieved significant gains, it may still be one of the best cryptocurrencies to invest in today.
Galaxy Fox ($GFOX) is poised for a massive breakthrough in the bull market.
Galaxy Fox (GFOX) has emerged as a potential alternative to Shiba Inu and Dogecoin because it addresses the main problem of utility scarcity. The project has integrated an ecosystem for gaming profits into its meme token. The ecosystem is built around a web3 running game full of fun, where players become foxes in the galaxy.
The game has been designed to be exciting, with unique characters for holders. Players will compete against each other in different events across different galaxies within the virtual world. Rewards will be delivered to the top 20% of players on the leaderboard among the galaxies.
As a blend of both worlds, analysts anticipate greater gains for GFOX compared to other meme currencies. In the bullish market, Galaxy Fox’s performance could increase up to 50 times, surpassing the cryptocurrency market and becoming one of the best initial coin offerings (ICOs) to date.
Currently, in the early stages of the cryptocurrency pre-sale, it is available.
Disclaimer: The information provided is not financial advice. Chinwa.tech does not take any responsibility for investments made based on the information provided in this article. We recommend consulting a qualified specialist or financial advisor before making any investment decisions.