Former Goldman Sachs analyst Murad Mahmudov has projected that more than 25 memecoins will soon make their way into the top 100 cryptocurrencies. According to data from CoinGecko, only seven memecoins currently hold rankings within the top 100 cryptocurrencies.
Current Memecoins in the Top 100
Dogecoin (DOGE), which debuted in 2013, is the most prominent memecoin, having gained substantial traction in 2021, partly due to endorsements from high-profile figures like Tesla CEO Elon Musk. Despite not reaching its 2021 highs, Dogecoin remains a significant player with a market capitalization of $14 billion.
Shiba Inu (SHIB), another major contender, is second in the memecoin category with a market cap of $7.9 billion. Although it briefly outpaced Dogecoin at the end of 2021, it currently holds the 15th spot by market value. Despite limited price movement in the past two years, SHIB persists as one of the largest cryptocurrencies.
Pepe (PEPE), which aims to rival DOGE and SHIB, is currently ranked 27th. Dogwifhat (WIF), built on the Solana blockchain, saw a notable price increase earlier this year, placing it at 51st. Other top 100 memecoins include Bonk (BONK), Floki (FLOKI), and Brett (BRETT), with BRETT having a market cap under $1 billion.
Which Memecoins Are Poised to Enter the Top 100?
Memecoins such as Popcat (POPCAT), BOOK OF MEME (BOME), and Mog Coin (MOG) are anticipated to join the top 100 cryptocurrencies soon. Their growing popularity and increasing market values position them as the nearest candidates for inclusion.
Key Takeaways for Investors
– Monitor the performance of existing top 100 memecoins like DOGE, SHIB, and PEPE.
– Keep an eye on emerging memecoins such as POPCAT, BOME, and MOG.
– Assess market trends and investor interest in memecoins for potential investment opportunities.
Mahmudov’s forecast suggests that memecoins will hold a more prominent role in the cryptocurrency landscape, intensifying their market influence. As investors observe the ascent of these digital assets, the sustainability of their popularity will be revealed over time.
