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Just like the major cryptocurrencies Bitcoin (BTC USD) remain stable near their highs, is it time to think about which meme cryptos are best to buy? The “crypto winter” has been over for months and another sudden freeze could soon occur.
In fact, some crypto analysts argue that Bitcoin’s upcoming halving could lead to a… “Buy the rumor, sell the news” Situation with BTC. While not certain, the waning enthusiasm for the largest cryptocurrency by market cap could impact all cryptos, with memecoins seeing the sharpest decline.
However, other analysts argue that the halving and other factors could serve as a catalyst for the preservation of BTC increases over the course of the year. Therefore, it is possible that the crypto bull market will continue.
Since meme coins and tokens typically make big moves during such times, you should check out these three meme cryptos to buy.
Bonk (BONK-USD)
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Describing himself as the “people’s dog coin.” Bonk (BONK USD) has strong bonds for the Solana (SOL USD) ecosystem. This explains why this meme token has surged alongside SOL-USD since the revival of bullish momentum against Solana that took shape last fall.
BONK-USD has fallen nearly 52.5% since hitting an all-time high on March 4th. This big drop could indicate that Bonk is on the decline, but I wouldn’t rule out the possibility of a new wave of “Bonk Mania” anytime soon. Given BONK’s correlation with Solana, positive developments in the popular altcoin could lead to another rally.
Regardless of the rebound potential, keep in mind the high volatility in BONK and other extremely cheap meme coins and tokens. BONK-USD is currently trading for around 1/450th of a penny and could see both big losses and big gains.
Dogecoin (DOGE-USD)
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If you want to find out which of the best meme cryptos you should buy, why not go for the original? Dogecoin (DOGE-USD) was the cryptocurrency that started the meme coin and token trend in 2021.
As you probably know, Dogecoin took too long to reach its peak in popularity and price. DOGE-USD reached its all-time high of $073.8 on May 8, 2021. That was Elon Musk on the same day gave a shout out to Dogecoin At Saturday Night Live. Although still below this high, DOGE has seen a strong rally during this recent crypto wave.
At around 20 cents today, if the crypto speculative frenzy continues in the coming months, the rising tide could further lift the Doge’s boat. Proceed with caution, but think about it if you are bullish on the memecoin trend.
Dogwifhat (WIF-USD)
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Dogwifhat (WIF-USD) is another meme cryptocurrency linked to Solana that has seen a huge rally in the short span of time since its debut late last year. In that time, this memecoin has risen from less than 20 cents to about $3.66 today.
After this big price jump, WIF-USD is now leading the world 35th largest cryptocurrency by market capitalization. After this epic rise, it makes sense that there is a lot of concern about where this cryptocurrency will go from here. As InvestorPlace’s Omor Ibne Ehsan recently argued that WIF-USD’s gains may not be sustainable. Ehsan believes that these gains are entirely due to hope and hype and WIF-USD has little utility.
However, if you are optimistic that the “memecoin mania” will continue, WIF-USD is arguably one of the top meme cryptocurrencies to put on your buying list. Compared to “established” memecoins like Doge, it may take a while for WIF to reach a rising star and peak.
At the time of publication, Thomas Niel was holding Bitcoin. He did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.