Markets
Meme Cryptos to Profit from the 2024 Crypto Market
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The current market cycle has chosen meme cryptos as favorites and favors their growth in every possible way. After a short hiatus, these assets are back in the black, providing relief to investors in highly volatile assets. A humorous origin does not mean lower profits, as proven by the lucky ones who recognized the potential of these tokens. The focus on meme coins means that a period of crypto market correction can turn into a bull run and turn even small investments into fortunes.
Some traders consider purchasing more massive assets such as Bitcoin (BTC-USD) And Ethereum (ETH-USD) when meme tokens rise in value. However, there are downsides to this strategy as large-cap coins do not exhibit the same dynamic growth as meme-themed altcoins. If you wait for the moment when these assets are overbought, you risk wasting time and missing 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 do not take advantage of this opportunity in the summer of 2024 risk losing their investment portfolio while waiting for a better opportunity.
Sealana (SEAL)
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Among the hundreds of crypto memes, you can count on one hand those that stand out from the competition from the first days of their existence and have a clear support base rather than achieving success solely through 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 without sleep, this character is looking for the next big coin. by Sealana (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), Sealana protected users from transaction overpayments and attracted global blockchain infrastructure into its development. by Solana 1.6 million users have access and have the opportunity to purchase the asset. The Sealana presale raised $5 million in a few weeks at a fixed price of $0.022. Upon completion of this milestone, on June 25, the coin will be listed on major exchanges and a wide range of investors will be able to transact with it while increasing the strength of SEAL.
Turbo (TURBO)
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Nobody thought that a project with a budget of $69 would reach the heights, but Turbo (TURBO-USD) has managed to surprise even the most experienced traders. The project integrated artificial intelligence to run processes on the network and moved away from traditional development methodologies. Such courage is paying off, as the yellow frog token has attracted growing interest from crypto meme users. In May-June 2024, the coin moved to 210th position in the market capitalization ranking and, over the last month, its price has increased by 201.95%. Speculative interest is high, with daily trading volume exceeding $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 its upward momentum, trading above its 200-day simple moving average (SMA).
Sponge v2 (SPONGEV2)
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Sponge V2 (SPONGEV2) is a continuation of the previous version, Sponge (SPONGE). In 2023, Sponge has become a true gem, sought after by cryptocurrency fans around the world. V2 continued the trend and may encourage crypto enthusiasts who have already joined the project. The total supply of 150 billion Tokens primarily aim to incentivize participants through staking and other project mechanisms. SPONGE has reached a peak market capitalization of $100 million, and its successor is unlikely to reach less.
The unique transition mechanism involves investing Sponge V1 in the corresponding smart contract to receive a token reward from the updated version. Users who avail the offer early can expect an increased reward of over 181% APY. This figure could decrease as the number of applicants increases, so it is extremely important to take advantage of this opportunity. However, even for investors who delay making 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 rankings.
On the date of publication, Julia Magas did not hold (neither directly nor indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.
Julia Magas is a writer who covers the latest trends in finance and technology. His work is published in a number of financial media outlets such as Nasdaq, Cointelegraph, Investing, SeekingAlpha, FXEmpire and Beincrypto. It mainly covers cryptocurrency and blockchain technology with a focus on market performance, innovations and trends.