As cryptocurrency markets rebound ahead of a week packed with important US economic data releases, various meme coins are leading the pack and might be the best crypto to buy now.
Bitcoin (BTC) was last trading in the upper $62,000s, up 2% on the day but still stuck within recent ranges.
US CPI and Retail Sales data out on Wednesday could shock the market out of its recent ranges.
WHAT’S YOUR BET FOR THIS WEEK’S US CPI INFLATION REPORT?
ESTIMATE: 3.4% Y/Y (PREV. 3.5%) pic.twitter.com/xwlBgHKU1m
— Investing.com (@Investingcom) May 12, 2024
As traders await macro catalysts, an unexpected theme has jumped into focus on Monday.
Legendary GameStop (GME) meme stock investor Roaring Kitty resurfaced on X for the first time since 2021.
The icon of the 2021 meme stock surge’s return has resulted in a surge in meme coin risk-taking activity.
Meme coins are dominating the top performer charts today. Here are some that might be the best crypto to buy now.
Best Crypto to Buy Now
Dogecoin (DOGE)
Dogecoin’s Potential for Growth
Monday saw a 5% surge in Dogecoin (DOGE) price as traders speculated on the potential arrival of a new meme coin season.
As the largest and oldest meme coin by market capitalization, Dogecoin currently sits just under $0.15, boasting a substantial market cap of $22.2 billion.
Despite its current price, many enthusiasts believe DOGE could reach the coveted $1 mark, propelling its market cap to over $140 billion.
This potential for exponential growth, representing a 6.5x increase from its current value, positions Dogecoin as one of the best cryptos to buy today for investors willing to embrace the volatility inherent in the meme coin market.
Shiba Inu (SHIB)
Shiba Inu (SHIB), currently the second-largest meme coin by market cap, also presents itself as a compelling investment opportunity.
The recent 4% price increase, coupled with a potential upside break from its pennant structure, suggests a possible surge toward its March highs above $0.000045.
Shiba Inu could be the best crypto to buy now. Source: TradingView
Such a rally would represent a near 100% increase from its current price, hovering around $0.000024.
With a market cap exceeding $14 billion, Shiba Inu mirrors Dogecoin’s strength in its dedicated and vast community of over 3.8 million followers. This strong community support suggests that Shiba Inu is well-positioned to be the best crypto to buy today.
Wood! Happy #MothersDay to all the #ShibArmy moms – two legs or four!
You’re the heart and soul of our pack pic.twitter.com/VToVMq7mRP
— Shib (@Shibtoken) May 12, 2024
Pepe Coin (PEPE)
Pepe Coin (PEPE) pumped to new record highs on Monday above $0.000011 per token.
While it has since retraced lower to $0.000010, PEPE is still up 13% in 24 hours, as per CoinMarketCap.
If it retraces to $0.000009, this could be a great support zone to buy at.
Pepe could be the best crypto to buy now. Source: TradingView
A still modest market cap of $4.2 billion suggests Pepe has some more room to run.
PEPE could easily become a $20 billion meme coin in the years ahead. Potential 5x gains make it among the best cryptos to buy now.
Exciting Meme Coin Presale to Consider – Dogeverse (DV)
The above-noted meme coins could all post solid 3-5x gains.
But if meme coin investors want to lock in 50-100x gains, they need to target newer/lesser-known coins.
Analysts at Cryptonews are excited about a new meme coin, Dogeverse (DV), which is available in presale and has novel cross-chain capabilities.
Dogeverse distinguishes itself from other meme coins through its multi-chain approach, launching on six of the most widely used blockchains (excluding Bitcoin) and incorporating multi-chain bridge capabilities.
The strategic decision could position Dogeverse as a frontrunner in the competitive meme coin market, capitalizing on the diverse blockchain ecosystem.
Get on the degen train before it rides into the wrong #Wormhole!#DOGE #Memecoins #Altcoins #Solana #Base #Ethereum
— DogeVerse (@The_DogeVerse) May 6, 2024
The project has already attracted considerable attention, raising over $15 million in presale funding.
Its multi-chain accessibility and ambitious vision suggest Dogeverse possesses the ingredients for viral success, attracting investors eager to participate in its presale phase.
The post Best Crypto to Buy Now May 13 – Dogecoin, Shiba Inu, Pepe appeared first on Cryptonews.