Should You Sell Dogecoin For New Low Market Cap Meme Coins? 5 Next Dogecoin Picks
As meme coin markets continue to mount a come-back, smart money investors are considering whether to sell Dogecoin for new low market cap DOGE alternatives – lets dig in and take a look at 5 of the most promising meme coins.
Shifting sentiment on Dogecoin leaves the leading meme coin as a victim of its own success, with its strong market position, whilst once an allure – DOGE now has an eye-watering market cap.
Dogecoin is currently sick. We're being contacted by a number of exchanges saying Dogecoin is jammed/unresponsive etc. We know the issue is inscriptions clogging the network, and devs across the board, core, fdn, etc are now putting their heads together on various ideas from…
— Timothy Stebbing (@tjstebbing) February 6, 2024
Indeed, at a whopping $11Bn market cap, major gains for Dogecoin will require an absolute flood of new capital, for example, to get a 2x on DOGE, the project would need an additional +$11Bn.
This highlights the benefit of low market cap meme coins, which could make much bigger moves with the same amount of fresh capital – lets explore some examples.
The start of 2024 has seen a huge migration in meme coin activity away from the Ethereum network, as traders look to shield their trading from the expensive and volatile gas fee situation – which appears to be worsening amid the arrival of ERC-404 tokens.
Solana has received a majority of the fresh volume, and at present BONK token is actively dominating Solana meme coin markets with a jaw-dropping market cap of $755,300,625.
In order for BONK to reach 2x gains, BONK’s market cap must reach around $1.5Bn – an increase of around $745m.
Whilst this is still lofty target, $745m is certainly more attainable than Dogecoin’s $11Bn.
In testament to the breakout
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