Meme Kombat, Sponge V2 among 5 meme coins that may rival PEPE
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After a meteoric rise last summer, PepeCoin (PEPE) has become one of the industry’s most iconic meme coins. However, many upcoming projects are snapping at its heels, looking to become the market’s top dog.
One is Bonk, which recently got listed on Binance, driving its market cap to over $1.8 billion. Yet, market participants must look further afield for the next PEPE.
This article considers predictions from analysts to determine which could be the next meme coin to rally.
Sponge V2
Sponge V2 is a meme coin paying homage to SpongeBob SquarePants.
It had a $100 million market cap, rewarding early investors, reaching 13,000 holders, listings on over ten centralized exchanges, and had more than 30,000 social media followers in a few days.
After a period of dormancy, Sponge is making a comeback in its second-generation form, Sponge V2.
Packed with fresh features, utility, and staking rewards, Sponge V2 introduces a play-to-earn game, providing users with opportunities to earn free crypto and creating a tangible demand for the SPONGEV2 token.
Despite being recently announced, Sponge V2 is already gaining significant traction. Crypto World Daily suggests it has the potential to rally.
The project is not limited to local attention; Dutch YouTuber Corné Marchand has covered Sponge V2, highlighting its growth potential.
Sponge V2 stands out from typical meme coins.
To acquire it, users can visit the Sponge.vip website, purchase, and stake Sponge V1.
Existing holders have the option to stake their Sponge V1 in the V2 staking contract.
Holders receive an equivalent amount of SPONGEV2 to their Sponge V1 holdings and additionally earn a yield based on the variable APY.
The project’s unique approach adds an extra layer of engagement for its community members.
Meme Kombat
Meme Kombat is a P2E meme coin with GambleFi utility whose presale is ongoing.
The presale has already raised over $3.9 million.
It has also been featured in prominent media outlets like Cointelegraph, Crypto News, and Crypto Potato.
The project features a battle arena where users can gamble and watch AI-augmented fights between trending meme coin characters.
These meme battles offer a viral allure while providing gambling utility, translating to long-term demand potential for MK.
YouTube channel OnlineHustleTV predicts Meme Kombat to rally, while 2Bit Crypto is bullish on its prospects.
Another advantage to Meme Kombat is its staking feature, which currently offers 228% APY. However, this will decrease as the staking pool grows.
Besides incentivizing long-term holding and reducing sell-pressure, Meme Kombat’s staking mechanism could drive token demand, further bolstering its price.
The Meme Kombat presale is currently priced at $0.246, but this will increase to $0.257 in the next phase.
Coq Inu
Over the past 12 months, PEPE rallied on Ethereum chain and BONK on Solana. Consequently, an emerging narrative is that every layer 1 blockchain will have its own premium meme coin.
Coq Inu is leading the way on Avalanche.
The COQ price has pumped 27% in the last day and 1,088% this week. It currently has a market cap of over $250 million.
Coq Inu’s 24-hour trading volume has also been steadily increasing, currently at $56 million and up 16% today.
One of Coq Inu’s benefits is it has a 100% circulating supply, meaning there are no upcoming token unlocks that might impact prices.
The Coq Inu website self-proclaims the project as the “THE MEME COIN OF THE CHAD CHAIN” and explains it is “Born from collective frenship, deeply rooted in memetics and humor, Coq Inu is not your average meme coin – it is a way of life.”
Analysts have caught on to the project, with Virtual Beacon labeling it Avalanche’s best meme coin.
Dogwifhat
While Bonk got the loudest bark on Solana, Dogwithhat is a new project aiming to be the runner-up.
Following its initial launch, Dogwifhat quickly rose, rewarding early adopters.
The project was listed on CoinMarketCap on Dec. 19 but prices have since retraced.
This could present an optimal buying opportunity for bulls.
The project has a market cap of over $141 million and a $80 million 24-hour trading volume.
Its market cap may provide room for growth, given Bonk’s is currently over $1.1 billion.
The project was initially backed by YouTuber Digivest, labeling it a “Solana meme coin gem.” Following this, the price exploded but analysts continued to endorse it, with CowboyTrades commenting that it is “printing millionaires.”
Despite its recent success, little remains known about Dogwifhat, and there are no official links to its social media or website on CoinMarketCap.
Nevertheless, Solscan data shows that there are over 20,000 holders.
However, the token has not been listed on any major exchanges.
Snek
Cardano is also trending higher with ADA adding over 100% since October.
With that, trend-savvy traders are looking at Snek, Cardano’s meme coin.
Snek has a market cap of around $125 million.
However, considering Cardano’s $20 billion market cap and that Snek is its leading meme coin, this could present notable upside potential.
SNEK is down 10% today but up 60% this week and 514% in December.
The recent pullback might present loading opportunities.
Analysts have rallied behind the token, with Zach Humphries saying the token’s market cap might float to $1 billion.
The analyst then explained that we could see liquidity cycle out of Bonk into other meme coins, suggesting that Cardano’s leader looks perfectly positioned to benefit.
According to the Snek website, the project “aims to leverage the popularity of meme coins, such as Pepe, Bonk, Shiba Inu, and Dogecoin, and establish itself as one of the top meme-based cryptocurrencies.”
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