Today’s cryptocurrency market consists of more than 23,000 cryptocurrencies. Picking an altcoin to invest in can be a daunting task for beginners in the crypto market. After taking a closer look at the growth potential of several cryptocurrencies, crypto pundits have concluded that Shiba Inu (SHIB), Dogwifhat (WIF), NFT Finance (NFTFN), FLOKI and Bonk (BONK) are suitable for amateur traders who wish to make up to 25x profits this year.
Shiba Inu (SHIB)
Since its inception in late 2020, Shiba Inu has evolved from a meme-worthy token meant to take on Dogecoin, into one of top cryptocurrencies. With a market capitalization of over $176 billion, SHIB is currently the second largest memecoin in the crypto market.
Frequent endorsements from influential figures like Elon Musk and Vitalik Buterin have added considerable value to SHIB over the years. SHIB is currently trading at $0.000029, but experts speculate that its price could jump 25x in the coming months.
Dogwifhat (WIF)
Dogwifhat is the most successful meme coin to emerge from the Solana Ecosystem. WIF has witnessed a dramatic surge of more than 86% over the past month, reaching as high as $4.8. This meme coin currently boasts a market capitalization of $3.9 billion, with a daily trading volume of over $700 million.
WIF’s recent rally was largely prompted by its listing on the world’s largest crypto exchange, Binance. The consistent rise in dogwifhat’s trading volume suggests that investors aren’t done with this meme coin yet. Dogwifhat is also well-positioned to benefit from the growth of the Solana ecosystem.
NFT Finance (NFTFN)
NFT Finance, a pioneer in the web3 fintech space, has been the talk of the town in 2024. Its unique selling propositions and sound fundamentals have captured the attention of crypto analysts and experts, who project significant growth in its value over the coming months. NFTFN is currently in the second stage of its presale, where investors are lining up to buy the token for just $0.03.
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NFTFN has raised more than $750k so far, with over $500k coming from the likes of Polygon founder Sandeep Nailwal. WITH well-planned tokenomics and strategic partnerships with industry leaders, NFTFN has emerged as a no-brainer investment for crypto newbies seeking a 25x return on their investment in 2024.
FLOKI
FLOKI, the memecoin named after Elon Musk’s pet dog, has evolved beyond a humorous token based on internet trends. The team behind FLOKI has developed several real-world applications to differentiate their token in the highly competitive memecoin sector.
FLOKI boasts an impressive ecosystem, which includes FlokiFi, which offers a suite of DeFi products, and FLOKI University, a popular crypto education platform. FLOKI’s market capitalization stands at $1.9 billion, but crypto pundits believe that as FLOKI adds utilities, it can surge as much as 25x in the coming months.
Bonk (BONK)
Bonk is one of the most popular memecoins to emerge from the Solana Ecosystem. In less than four months, BONK has managed to reach a market capitalization of over $1.5 billion, soaring as high as $0.000037. Bonk’s integration with Solana-based NFT marketplace Solanart had added considerable value to BONK beyond pure speculation.
Bonk relies on the same hybrid consensus model as Solana, which entails the proof-of-history (PoH) mechanism as well as the underlying proof-of-stake (PoS) mechanism. BONK may be suitable for amateur investors seeking exponential growth prospects.
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