In recent months, the meme coin industry has surged significantly, with its market cap exceeding $70 billion just days ago. After a recent adjustment, the current figure is about $64 billion.
According to CoinGecko data, there are currently over 2,300 types of meme coins, some of which have attracted market attention due to recent price fluctuations and other factors. Below, we will focus on five interesting assets that may experience significant volatility in the next 30 days.
Dogecoin (DOGE)
The leading meme coin by market capitalization has recently been on an upward trend, soaring 17% in the past week.
One of the reasons for Dogecoin's strong performance recently may be related to Elon Musk's interactions. Last week, Tesla CEO Musk appeared at Donald Trump's rally at Madison Square Garden, urging the public to support the Republican candidate in the upcoming November 5 U.S. presidential election.
He reiterated that if Trump is re-elected, a Department of Government Efficiency (DOGE) will be established. Additionally, Musk posted a funny photo on social media platform X: the upper half shows him flexing muscles during a speech, while the lower half depicts a Shiba Inu resembling the DOGE logo also flexing.
Elon Musk's potential support may trigger further fluctuations in Dogecoin's price after the election results are released. As a staunch supporter of Dogecoin, Tesla's head has praised its advantages multiple times, boosting the coin's visibility.
Shiba Inu (SHIB)
As of the end of October, the second-largest meme coin performed well, but experienced a significant pullback in the past 24 hours, wiping out some of its previous gains. However, the revival of Shibarium, the SHIB burn plan, and other factors suggest that this coin's price may soon return to an upward trend. According to the latest report from CryptoPotato, the daily trading volume of Shibarium, a Layer 2 blockchain solution, has rebounded to millions, while the burn rate of SHIB has surged by 252,900% in the past day.
This ongoing burn action will reduce the number of SHIB tokens in circulation, increasing scarcity, which may push prices higher if demand remains constant or grows.
MAGA and KAMA
The tokens related to Trump’s 'Make America Great Again' (TRUMP) and Harris’ 'Kamala Harris' (KAMA) may experience significant fluctuations this month. If the Republican candidate wins, TRUMP's rise may be expected; whereas if the Democrats win, KAMA may experience upward momentum.
However, the meme coin market's trajectory remains filled with uncertainty, and specific rise and fall situations will need to be observed after the election results are announced to see how these tokens react.
Popular Cat
The largest cat-themed meme coin—Popcat (POPCAT) is one of the best-performing currencies in the market this year. On October 29, its price hit a historic high of nearly $1.80, currently valued at $1.65 (an increase of 23,500% since January 1).
Many analysts on Crypto X predict that this token is about to experience further rises in the short term. A user nicknamed 'shah' even stated that POPCAT 'will lead other cute cats to the peak (Valhalla) of the crypto realm.' Nevertheless, the market direction in November remains uncertain, and future developments are worth anticipating.#美国大选后涨或跌？
