ChatGPT ranks them as the best meme coins to watch in 2024

TL;DR

Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are expected to remain dominant in 2024 due to their strong recognition and ecosystems. However, many contenders could steal his thunder this year, assuming certain factors are in place.

Starting with the leaders

Meme coins have been the rock stars of crypto during this bullish cycle, many of which have experienced impressive price increases and received support from major exchanges and prominent industry figures. They also stand out for their strong communities and ability to become massive trends.

We asked ChatGPT whether its progress will continue in 2024 and which meme coins investors should pay special attention to. The chatbot highlighted the potential of six assets, with Dogecoin (DOGE) and Shiba Inu (SHIB) making the list.

He stated that they will likely maintain their dominance in the niche due to “widespread recognition and robust ecosystems”. ChatGPT noted that Dogecoin is Tesla CEO Elon Musk’s favorite cryptocurrency and often benefits from the billionaire’s endorsements.

For its part, Shiba Inu has shown significant progress thanks to the launch of the layer 2 scaling solution Shibarium and the decentralized exchange ShibaSwap. We remember that the L2 blockchain network saw the light of day last summer, surpassing numerous milestones since then. Most recently, the total number of blocks processed on Shibarium exceeded five million.

The protocol aims to foster the development of the Shiba Inu ecosystem by reducing transaction costs, improving scalability and improving speed.

Don’t forget about these contenders

ChatGPT stated that Pepe (PEPE), Floki Inu (FLOKI), Dogelon Mars (ELON) and Baby Doge Coin (BABYDOGE) are also worth watching.

Frog-themed PEPE gained massive popularity in 2023 and maintains a strong presence in the market this year. Not long ago, it reached a higher price, while its market capitalization exceeded $7 billion. Despite falling back in the following days, PEPE remains the third largest meme coin.

FLOKI also hit a price high recently, briefly changing popular altcoins like Monero (XMR) and Cronos (CRO). It followed the recent correction in the crypto sector, but its market cap still sits above $2 billion.

ELON and BABYDOGE are lesser known, but they may still headline this year (according to ChatGPT). Its progress depends on increased investor adoption, marketing strategies, celebrity endorsements and many other factors.

Always calculate the risks

While meme coins may seem like an attractive investment option that could turn one into an overnight millionaire, they can also lead to crucial losses due to their infamous volatility.

People should jump on the bandwagon after due diligence and invest only as much as they are willing to lose. For more vital tips, check out our dedicated video below:

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