The meme coin market continues flourishing in 2023, with titans like Dogecoin (DOGE) and Shiba Inu (SHIB) still top of the pile.
However, exciting new projects are emerging regularly, such as presale stars Thug Life (THUG) and Mr Hankey Coin (HANKEY).
In this article, we'll look at five high-profile meme coins making moves in the market – comparing their price predictions and covering their potential trajectories.
1. Thug Life (THUG)
First up is Thug Life (THUG) – a new, hip-hop-themed cryptocurrency in the midst of a successful presale phase but is anticipated to see significant price growth once it launches its IEO.
Although THUG's presale was only launched a few weeks ago, it has already raised more than $1.4 million in funding, meaning the token allocation is now trending to sell out.
Once the allocation sells out or the presale's end date arrives, Thug Life's creators intend to launch THUG on a high-profile decentralized exchange (DEX), allowing anyone to access the token.
Given THUG’s unique branding and viral appeal, early investors believe this DEX launch could catalyze a significant price pump, as seen with previous presale cryptos.
Moreover, since 70% of the total THUG supply is being set aside for presale investors, the reduced availability post-launch could drive the price even higher.
Well-known YouTuber Michael Wrubel certainly seems to think this is the case, given that he's predicted THUG could 100x in value once it makes its open market debut. Given the hype around the project and its rapidly rising presale, this ambitious prediction doesn’t come as a surprise.
Early Thug Life investors will hope he's right, as such an exponential leap would translate into substantial returns.
2. Dogecoin (DOGE)
Dogecoin (DOGE) needs no introduction, as it was the trailblazer for the meme coin movement.
Although DOGE is trading well below its peak, it remains a favorite among crypto enthusiasts and has solidified its place in the mainstream consciousness.
One of the main features that fuelled Dogecoin's growth is its community-oriented approach, which has ensured the coin remains popular with retail traders worldwide.
Moreover, the coin has also been referenced by numerous high-profile names – such as Elon Musk and Mark Cuban.
Per CoinGecko, the DOGE price is hovering around $0.0654, with a daily trading volume of just over $191 million.
Although price has been consolidating over the past few days, Zifa Mae, an analyst at Changelly, has predicted that DOGE could hit $0.086 by the end of the year.
Moreover, Mae has also forecast that DOGE will return to the $0.189 level by 2025, representing a 190% increase from today's price.
3. Mr Hankey Coin (HANKEY)
Mr Hankey Coin is a brand new meme coin that’s already made huge waves within the crypto community after selling out its $500k presale in just 9 hours after launching yesterday.
Since then, Mr Hankey Coin has launched on the Uniswap DEX within the last few hours. The token already has seen an 85% increase and the bullish momentum looks to continue.
HANKEY is rumored to be from the same team that created the SPONGE token, which rose over 100x earlier this year, and it looks like Mr Hankey Coin could continue to see similar gains.
The Mr Hankey Coin hype comes from a combination of fun character with viral potential, small hard cap with large liquidity, and, of course, the rapidly concluded presale.
Among the most 5 trending coins on DexTools and having now hit an ATH of $0.3, HANKEY looks set to continue surging and potentially 100x.
4. Pepe (PEPE)
Pepe (PEPE), inspired by the notorious Pepe the Frog meme, has been one of the breakout crypto stars of 2023.
The token experienced an explosion in popularity back in April, mainly due to its meme-centric approach and tongue-in-cheek design.
PEPE’s popularity eventually led to gains of over 10,000% for those who opted to invest when the token made its Uniswap debut – solidifying it as the third-largest meme coin in the world by market cap.
Unfortunately, PEPE's peak was short-lived, and the token now trades around 66% lower than May's peak.
However, several prominent crypto influencers still believe in PEPE’s potential, speculating that the token could be primed for another rally.
Leading YouTuber Crypto Zeus uploaded a recent video analyzing the PEPE price chart, concluding that the token could exceed its all-time high if it breaks the resistance zone around $0.00000185.
This prediction will be music to the ears of PEPE holders, who have seen the token’s value struggle to maintain positive momentum in recent weeks.
5. Shiba Inu (SHIB)
Shiba Inu (SHIB), often dubbed the "Dogecoin killer," has proven to be a formidable player in the meme coin market.
This decentralized token is another shining example of the power of community in crypto investing, which helped SHIB reach an all-time high of $0.0000861 in October 2021.
SHIB's meteoric rise made headlines worldwide, with many meme coin enthusiasts speculating it could eventually topple Dogecoin.
Unfortunately for Shiba Inu bulls, this didn't come to pass, and the token's price dropped sharply in the following years.
However, things could be about to change, with the recent meme coin frenzy and the pending release of the “Shibarium” scaling solution potentially reinvigorating interest in SHIB.
Akash Girimath, an analyst working for FXStreet, recently wrote an article on Shiba Inu, predicting that the token’s value could hit $0.0000101 if price can break out of the range it’s currently trading in.
Should Girimath’s prediction prove to be correct, it would result in a 33% surge, based on today’s price.