By Guest 
Meme coins have experienced remarkable growth in recent months, with their market cap briefly surpassing $70 billion just days ago. Following recent market corrections, that figure has now settled around $64 billion.
According to Coingecko, there are over 2,300 meme coins in existence, with some gaining attention due to price volatility and other factors. Here, we highlight five intriguing meme coins that may experience substantial growth in the next 30 days.
Top 5 Meme Coins to Watch for Significant Growth This Month
Disclaimer: Investing in meme coins carries significant risks, particularly this month due to potential market volatility linked to the U.S. elections. The information provided in this report is for informational purposes only and should not be considered investment advice. The author and the cryptocurrency website assume no responsibility for your investment decisions. Always conduct thorough research and consult financial advisors before making any investments.
Dogecoin (DOGE)
As the largest meme coin by market cap, Dogecoin has recently shown strong performance, experiencing a 17% increase in the past week.
A significant factor behind Dogecoin’s price surge is Elon Musk’s recent endorsement. Last week, the Tesla CEO attended a Donald Trump rally, encouraging attendees to vote for the Republican candidate in the upcoming U.S. presidential election. Musk announced plans to establish a Department of Government Efficiency (acronym DOGE) if Trump wins. He also shared an amusing image on social media, juxtaposing a public speaking moment with a Shiba Inu dog—Dogecoin’s mascot.
The election results may lead to further price volatility for Dogecoin, as Musk is a prominent supporter of the coin and has often praised it, boosting its popularity. You can find the latest analysis of Dogecoin on cryptocurrency websites.
Shiba Inu (SHIB)
The second-largest meme coin also showed promise at the end of October, although it faced a significant drop in the past 24 hours, losing many of its previous gains.
The revival of Shibarium, a token burning program, and other developments suggest that Shiba Inu may soon return to an upward trend. Recent reports indicate a substantial increase in daily transactions on the blockchain’s layer-two solution, with the token burn rate skyrocketing by 252,900% daily. These factors make Shiba Inu’s analysis particularly compelling.
Trump and Harris Meme Coins
Meme coins related to Donald Trump, such as MAGA tokens, and those associated with Kamala Harris, like KAMA, are likely to experience significant volatility this month. If the Republican candidate prevails, MAGA could see gains; conversely, a Democratic win may boost KAMA. However, the meme coin market remains unpredictable, and we must await the final election results to see how these tokens react.
Popcat (POPCAT)
Popcat, the largest cat-themed meme coin, has had one of the best performances in the market this year. Its price reached a record high of $1.80 on October 29 and currently sits at $1.65, reflecting an astounding 23,500% increase since the beginning of the year.
Analysts at Crypto X anticipate further price growth for Popcat in the near future. It will be interesting to see what November holds for this meme coin.
Conclusion
As we monitor the meme coin market in November 2024, it’s evident that this sector, with a market cap of $64 billion, has five main players. Dogecoin, buoyed by Elon Musk’s support and political developments, stands at the forefront, while Shiba Inu is strengthening its position through infrastructure improvements and increased token burning. The election-related meme coins, MAGA and KAMA, are poised for potential fluctuations based on election outcomes, and Popcat is gaining recognition with its remarkable growth. The U.S. election results are likely to play a decisive role in shaping the price trends of these assets in the coming month.