The current market cycle has chosen meme cryptos as its favorites and promotes their growth in every possible way. After a short break, these assets are back in the black, which gives relief to highly volatile asset investors. A humorous origin does not mean lower profits, as proved by the lucky ones who recognized the potential in such tokens. The focus on meme coins means that a crypto market correction period can turn into a bull run and turn even small investments into fortunes.
Some traders consider buying more massive assets such as Bitcoin (BTC-USD) and Ethereum (ETH-USD) when meme tokens soar in value. However, this strategy has drawbacks, as highly capitalized coins do not show the same dynamic growth as altcoins based on the meme theme. If you wait for the moment when these assets are overbought, you can lose time and miss the stage of the biggest profits. The end of 2023 and the beginning of 2024 marked the first stage of the meme coin craze. Those who fail to take advantage of the chance in the summer of 2024 may lose their investment portfolio while waiting for a better opportunity.
Sealana (SEAL)
Among the hundreds of meme cryptos, you can count on one hand those that stand out from the competition from the very first days of their existence and have a clear support base rather than gaining achievements only due to the general hype. The parody of the “Gamer” from South Park was a hit with the community, as this seal has the charm of a crypto gem hunter. Without any distractions, and sometimes even sleep, this character is looking for the next big meme coin. Sealana’s (SEAL-USD) social networks continue to gather an army of fans that has already exceeded 12,000 on X and Telegram.
Having settled in the Solana (SOL-USD) network, Sealana has protected users from transaction overpayments and attracted the global blockchain infrastructure to its development. Solana’s 1.6 million users have access to and the opportunity to purchase the asset. Sealana’s pre-sale raised $5 million in a few weeks at a fixed price of $0.022. Upon completion of this stage on June 25, the coin will be listed on the main exchanges, and a wide range of investors will be able to conduct transactions with it while increasing SEAL’s strength.
Turbo (TURBO)
No one thought that a project with a budget of $69 would reach the heights, but Turbo (TURBO-USD) managed to surprise even the most experienced traders. The project integrated artificial intelligence to execute processes on the network and departed from traditional development methodologies. Such courage pays off, as the token with the image of a yellow frog has received increased interest from users of meme cryptos. In May-June 2024, the coin rose to 210th position in the market capitalization ranking, and over the past month, it showed a 201.95% increase in price. Speculative interest is high, as the daily trading volume has risen above $100 million.
Less than a quarter of TURBO tokens are in circulation, but this does not prevent the capitalization from growing, reaching $601 million at its peak. The 14-day Relative Strength Index (RSI) of 55.78 demonstrates a balanced condition without overbought. The token maintains upward momentum, trading above its 200-day simple moving average (SMA).
Sponge v2 (SPONGEV2)
Sponge V2 (SPONGEV2) follows in the footsteps of the previous version, Sponge (SPONGE). In 2023, Sponge became a real gem, chased by meme crypto fans worldwide. V2 has continued the trend and can encourage crypto enthusiasts who have previously joined the project. The total supply of 150 billion tokens is primarily aimed at incentivizing participants through staking and other project mechanics. SPONGE has reached a peak market capitalization of $100 million, and its successor is expected to achieve no less.
The unique transition mechanism involves investing Sponge V1 in the corresponding smart contract to receive a reward in tokens of the updated version. Users who take advantage of the offer early can expect an increased reward of over 181% APY. This figure might fall as the number of applicants increases, so it is extremely important to grab this chance. However, even for investors who are slow to make decisions, the APY will be at least 40%. In addition to this mechanism, the Play-to-Earn (P2E) gaming ecosystem promises to increase user engagement through competition for leadership positions in the ranking.
On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
