Most readers will know that I am not usually the one to promote buying meme cryptos. In fact, it’s fun to watch the meme madness we’re seeing in the market. However, for truly long-term investors looking to build a portfolio in any asset class (including crypto), quality is important. Most meme projects are unlikely to be profitable in five years, and there is incredible uncertainty around valuation that is difficult to ignore.
However, I will not discount that there are good arguments to be made as to why certain projects could continue to see strong upside potential over the next five years. The crypto market is abuzz as investors anticipate a surge of capital in this space for smaller cap meme projects, which could mean incredible upside potential over a longer period of time.
The following three projects may not necessarily be considered the mainstream meme tokens that many investors are accustomed to. But they are projects that have something under the hood and I like that. For those who enjoy making money, these are among the only cryptocurrencies that might be worth considering.
Fetch.ai (FET-USD)
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Fetch.ai (FET USD) is a top AI-related cryptocurrency that has seen impressive price movements recently. This is a token that is very familiar with double-digit daily increases. With fetch trading near an all-time high reached earlier this year, it’s clear that investors who jumped on the bandwagon early are benefiting.
As with other projects with AI tailwinds (and there’s another one on this list), there are many risks that need to be considered. It is unclear how much AI activity will take place on the blockchain. But if we see the surge many expect, Fetch.ai could be the way to do this trading.
Analysts see the integration of Fetch.ai chain link (LINK USD) as a significant development, with the potential for AI tokens to lead the next cryptocurrency cycle. The more resistance levels are broken, the greater the upside potential. That’s why this token is on the list.
Most notably, the partnership between Fetch.ai and Chainlink advances decentralized technology by integrating Chainlink’s secure oracle networks and enabling Fetch.ai’s AI agents to access real-world data. This expands the use cases in DeFi and supply chain management. Fetch.ai’s BlockAgent tool strengthens Web3’s leadership role through real-time blockchain monitoring and strategic deployment.
The Chart (GRT-USD)
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The graphs (GRT-USD) token recently rose more than 11%, testing a key resistance level, indicating further potential growth. Unlike Fetch, The Graph is far from its all-time high and there remains uncertainty as to whether this project will reach that level.
Still, the project’s focus on AI integrations into blockchain and improving data indexing is intriguing. The Graph represents an enticing investment opportunity in the crypto space, especially for those interested in how the space works.
Operating as an ERC-20 token on the ether (ETH-USD) Blockchain, GRT powers the Graph protocol and enables decentralized indexing for blockchain data analysis. It enables dApp development and improves query security, inspired by Ethereum principles. Since integrating with Solana in 2021, The Graph has revolutionized blockchain data collection, benefiting the Solana developer community and streamlining real-time transactions.
Examine diagram Price predictions as of April 22, 2024, it is important to note the inherent volatility of cryptocurrency predictions. Long-term predictions, often algorithmically generated, can change quickly. However, a sustained crypto rally could drive this token significantly higher in the medium term.
Bonk (BONK-USD)
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Despite its humorous origins from the Shiba Inu (SHIB USD) memes, Bonk (BONK USD) is a project that many skeptics say needs more practical use. It acts as a “meme layer” to which the coin is tied Solana (SOL USD), which appeals to new investors due to Solana’s low entry costs and reputation. However, Bonk’s value fluctuates with crypto hype cycles, making it unstable for sustainable returns, especially after the NFT boom.
There are some interesting developments under the hood, and I think Bonk’s ties to Solana could bode well for the future of this meme token. This is of course just speculation. To me, all meme projects look the same. But if I had to choose a pure meme token project to win, Bonk would be a top contender.
Withholding this token and the other two mentions on this list poses numerous risks. Investors should carefully examine these projects before investing. But for those who have money to work with and don’t mind getting burned, I think this could be an interesting option to consider now.
At the time of publication, Chris MacDonald 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 and are subject to InvestorPlace.com’s publication policies.