BONK (BONK) had one of the vital exceptional runs in late 2023, with the meme coin surging over 2,000% to succeed in an all-time excessive of $0.000024 in December. Nevertheless, BONK has since fallen right into a downtrend and is now buying and selling round $0.00001, dropping over half its worth from its peak.
Regardless of this decline, BONK nonetheless instructions a large market capitalization of near $700 million, making one other 20x rise from right here appear unlikely.
Because of this, buyers are trying to find smaller cap altcoins and meme cash that may emulate BONK’s meteoric success and attain its market capitalization. Listed here are 5 such candidates.
Meme Kombat (MK)
As BONK braces for additional worth corrections, Meme Kombat (MK) has attracted a rising inflow of buyers into its presale. Meme Kombat is constructing a GambleFi platform centered round an AI-powered battle enviornment the place iconic meme cash have interaction in fights. This presents a novel perspective on the GambleFi trade, historically centered on casinos and sports activities betting.
MK token holders can wager on the outcomes of AI-meme battles, with appropriate predictions incomes engaging rewards. Meme Kombat Season 1 launches quickly after its presale concludes, serving to drive MK’s upward trajectory. Passive staking is stay in the course of the presale with compelling 118% APY.
Because the identify suggests, Meme Kombat permits battles between the most well-liked meme coin mascots. Its beginning lineup has 11 fighters, every with distinctive strengths, weaknesses and skills. Not like play-to-earn video games reliant on NFTs, Meme Kombat facilities on staking and waging with its native token. Having raised over $8 million in presales already, MK might ship main returns as soon as formally launching on Uniswap and main exchanges quickly.
Sponge V2 (SPONGEV2)
Sponge V1 delivered distinctive returns in mid-2023, shockingly surging from a $1 million market cap to over $100 million at its peak. Now, the group appears to be like to duplicate this success with the launch of Sponge V2 and its new tokenomics. Relatively than simply paying tribute to SpongeBob SquarePants like the unique, Sponge V2 will characteristic a play-to-earn racing recreation to boost utility.
The principle aim of SPONGE V2 is to finally supersede V1 slightly than coexist with it. Buyers can completely get hold of V2 tokens by locking their V1 tokens into the V2 good contract.
This unique token-locking system has attracted droves of buyers trying to get their arms on SPONGE tokens, because it ensures them an equal quantity of SPONGEV2 tokens of their wallets after launch – instantly akin to the variety of V1 tokens they staked beforehand.
Hype is quickly constructing across the V2 launch, with over $3.4 million already staked within the token’s good contract. There are simply two methods to acquire Sponge V2 tokens – instantly shopping for and staking SPONGE on the venture’s web site, or staking beforehand held Sponge V1. Extra V1 tokens locked ends in greater V2 rewards.
Bitcoin Minetrix (BTCMTX)
As conventional Bitcoin mining firms increase quickly forward of the upcoming halving occasion that may reduce earnings, a pioneering decentralized platform referred to as Bitcoin Minetrix is garnering large investor curiosity.
What units Bitcoin Minetrix aside is its transparency and automation. By means of an progressive “stake-to-mine” good contract, all cloud mining credit and allocations occur instantly on the blockchain. Customers can customise particulars like mining period by way of their private dashboard.
In preparation for the halving, Bitcoin Minetrix is gaining traction alongside old-school miners with its stake-to-mine mechanism. By staking the BTCMTX token, anybody can passively earn BTC with out costly {hardware} or technical know-how. With over $10 million attracted in presale thus far, Bitcoin Minetrix is inflicting a stir.
At its core, Bitcoin Minetrix goals to revolutionize bitcoin mining by enabling on a regular basis crypto buyers to earn bitcoin with out buying costly ASICs or GPUs.
Staking BTCMTX generates “mining credit” that present both cloud mining entry or a portion of revenues. In essence, stakers achieve two revenue streams: staking rewards as much as 97% APY on native tokens, and BTC earnings from simplified cloud mining.
This pioneering mannequin opens up bitcoin mining earnings to common crypto holders, not simply the technical consultants with capital-intensive mining rigs. It makes collaborating in and benefiting from bitcoin mining markedly extra inclusive.
Polytrade (TRADE)
POLYTRADE is a decentralized protocol reworking receivables financing by connecting patrons, sellers, insurers and buyers for seamless buying and selling. It’s additionally launching a metaverse product centered on metaverse trades/economies.
As a 100% on-chain digital native commerce finance product, Polytrade harnesses crypto’s large liquidity by tokenizing real-world invoices and bringing them on-chain into DeFi. With the DeFi market cap within the trillions and rising day by day complete worth locked, Polytrade has monumental room for progress past its present $30 million market cap.
Banana Gun (BANANA)
Banana Gun ($BANANA) is a crypto token related to the Banana Gun crypto venture – a Telegram bot permitting customers to soundly purchase tokens on Ethereum, purchase tokens earlier than others from upcoming launches, and offering buying and selling/sniping companies.
The $BANANA token is the native cryptocurrency of the favored Banana Gun buying and selling bot venture. With a present market cap round $32 million, Banana Gun has gained important recognition as one of many extra widely-used Telegram buying and selling bots.
Conclusion
Whereas BONK struggles to take care of its meteoric highs, the initiatives highlighted above entice rising crowds with robust tokenomics, utilities and incentives. Because the market recovers following Bitcoin ETF approvals correction, these cash appear geared for main breakouts in 2024, making them robust candidates to emulate BONK’s success.
Their present valuations provide room for multifold features in the event that they attain BONK’s market capitalization.
