Last week was marked by extreme volatility across the whole crypto market.
The total market volume jumped 44% in the last 24 hours alone, landing it at $140.11 billion.
Probably the best indicator of the bulls is Bitcoin’s breakthrough to $70,000, marking its new ATH since 2021.
Meme coins were one of the biggest gainers in this bull run; however, some of them, like Bonk and Dogecoin, experienced significant drops as well.
However, not all meme coins are experiencing a sell-off – Solana-based Smog token surged to $230 million market cap, while Meme AI witnessed a 1,400% growth in the last 30 days.
Let’s dig a bit deeper.
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BONK’s Price Retracts After Reaching a New ATH
Bonk (BONK) started the recent bull run on a high note, recording massive gains and even reaching a new all-time high of $0.00004704 on March 4th.
However, the rally was short-lived as BONK suffered a significant 36% drop from its ATH price in the following days.
The sudden decline caught many BONK holders off guard, leading to a wave of sell-offs as the token appeared to have lost its upward momentum.
This bearish sentiment was a stark contrast to the optimism surrounding BONK just days prior when it hit a new peak.
Despite the sell-off, BONK managed to find some support around the $0.0000030 level and staged a minor recovery.
Currently, the token is trading sideways as buyers and sellers are battling to determine the next direction.
If BONK can maintain the $0.0000030 level, it could regain some bullish traction and initiate another upswing. However, a break below this key support could signal a continuation of the downtrend.
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Dogecoin Faces Resistance at $1.7 Barrier
DOGE has surged over 110% in the last month, riding the wave of the broader crypto bull market.
However, its ascent has faced resistance at the $1.7 level, which has temporarily halted its upward trajectory.
Despite the current resistance, Dogecoin’s price is still up over 3x compared to its 2022 lows around $0.05.
Nevertheless, it’s important to note that DOGE is still down more than 76% from its 2021 peaks above $0.74, leaving potential room for further upside.
But, if BTC continues its ascent to $100,000, we could possibly see DOGE also resume its bull run.
In fact, some analysts speculate that 2024 could be the year Dogecoin finally hits the coveted $1.0 per token milestone.
This scenario could mean that investors who jump into Dogecoin now might still be able to record 5x gains.
However, for many meme coin investors, even those gains might not be enough to satiate their appetite for higher returns.
That’s why we tried to locate some newer tokens with smaller entry prices and bigger space for 10X or more gains.
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Scotty AI – Low-Cap Meme Coin Raises Over $7 Million In Presale Funding
While Bonk’s (BONK) recent retraction may have dampened the spirits of some crypto enthusiasts, it also demonstrated the potential for smaller tokens to experience rapid growth.
Amidst this landscape emerges Scotty AI, a low-cap meme coin that has already raised over $7 million in its ongoing presale.
With a playful Scottish Terrier mascot, Scotty AI aims to position itself as a “guardian” of the crypto universe.
However, most of its appeal lies in its AI-powered features, designed to enhance the user experience and boost success in the crypto market.
One of Scotty AI’s standout offerings is ScottyChat, an AI-powered chatbot that provides real-time market insights, analytics, and personalized recommendations.
Furthermore, the Scotty AI ecosystem includes Scotty Swap, a secure decentralized exchange (DEX) powered by AI technology, streamlining the trading process for users.
Additionally, Scotty AI has introduced a staking feature that offers yields of 70% per year, an enticing proposition that has already attracted over 300 million SCOTTY tokens pledged by investors.
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Smog Token – Solana Coin Jumps to $230M MCAP & Continues to Rise
Another meme coin that witnessed a jaw-dropping rise is the Smog Token ($SMOG). This Solana-based token has climbed beyond the impressive $230 million market cap milestone, fueled by a staggering 150% surge in its value over the past week.
The project allows its users to buy and hold $SMOG tokens to accumulate airdrop points, promising what’s being described as the “greatest airdrop of all time.”
This airdrop has played a pivotal role in establishing a vibrant community of over 17,100 members on Telegram.
In a move to further incentivize long-term commitment from its community, Smog Token recently launched a staking protocol that currently offers a 42% Annual Percentage Yield (APY) for $SMOG holders.
This feature rewards patient investors and encourages them to hold onto their tokens while awaiting the highly-anticipated airdrop.
Furthermore, hints from the team suggest that a potential burning mechanism might be on the horizon, which could potentially turn it into a deflationary token.
As Smog Token’s popularity continues to soar, high-profile influencers are starting to champion its continued success. Jacob Bury, a prominent figure in the crypto space, believes that $SMOG could potentially 100x from its current prices ahead of the highly-anticipated airdrop.
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Conclusion
Amidst the volatility surrounding established meme coins like Dogecoin and Bonk, newcomers Smog and Scotty AI have emerged as promising alternatives for investors seeking explosive growth.
Smog Token has already surged to a $230 million market cap, fueled by its innovative airdrop utility and a dedicated community.
Meanwhile, Scotty AI’s AI-powered features have attracted over $7 million in presale funding.
With staking rewards and burning mechanisms on the horizon, these two meme coins could easily explode anywhere from 20-50x.