Shiba

Dogecoin

Shiba Inu

Elon Musk

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 <p class="paragraph">In March, the cryptocurrency <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> witnessed a surge in the popularity of meme <a rel="noopener noreferrer nofollow" title="coins" href="https://thebittimes.com/tag/coins.html">coins</a>, such as Shiba Inu (SHIB) and Dogecoin (DOGE).</p>
 <p class="paragraph">Initially driven by enthusiastic online communities and viral social media trends, these coins and tokens now seek to establish themselves within a more mature cryptographic ecosystem.&nbsp;</p>
 <p class="paragraph">Several forthcoming events within the broader market have the potential to generate favorable conditions for the aforementioned meme coins.&nbsp;</p>
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 <h2 class="wp-block-heading" id="h-favorable-market-winds-for-meme-coins">Favorable market winds for meme coins</h2>
 <p class="paragraph">The upcoming Bitcoin (BTC) halving, has historically coincided with price increases for Bitcoin and often exerts a significant influence on the entire cryptocurrency sphere. A potential period of bullish sentiment could translate into benefits for meme coins like SHIB and DOGE.&nbsp;</p>
 <p class="paragraph">Additionally, regulatory approval for a US-based Ethereum (ETH) spot ETF could attract institutional investors to the broader cryptocurrency market.&nbsp;</p>
 <p class="paragraph">This influx of capital could positively impact the valuation of meme <a rel="noopener noreferrer nofollow" title="coins" href="https://thebittimes.com/tag/coins.html">coins</a>, as their lower entry points compared to established cryptocurrencies may make them more attractive to these new participants.</p>
 <h2 class="wp-block-heading" id="h-challenges-to-growth">Challenges to growth</h2>
 <p class="paragraph">However, achieving a market capitalization of $25 billion by the end of 2024 remains a considerable challenge for both coins and tokens.&nbsp;</p>
 <p class="paragraph">The inherent volatility of the cryptocurrency market continues to represent a significant obstacle. Unforeseen market variations could disrupt the price stability of these coins and limit their market cap growth.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-shiba-inu-shib">Shiba Inu (SHIB)</h2>
 <p class="paragraph">Shiba Inu boasts a current market capitalization of $13.56 billion. This represents a notable decrease from its October 2021 all-time high of $43.51 billion.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="921" height="77" src="https://cdn.thebittimes.com/images/2024/04/15/94cf7e0fd3216abb700f906824338da2.webp" alt class="wp-image-169134" srcset="https://cdn.thebittimes.com/images/2024/04/15/94cf7e0fd3216abb700f906824338da2.webp 921w, https://cdn.thebittimes.com/images/2024/04/15/94cf7e0fd3216abb700f906824338da2.webp 300w, https://cdn.thebittimes.com/images/2024/04/15/94cf7e0fd3216abb700f906824338da2.webp 768w" sizes="(max-width: 921px) 100vw, 921px">
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   SHIB market capitalization. Source: <em>CoinMarketCap</em>
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 <p class="paragraph">The continued development of Shibarium, the layer 2 blockchain network for SHIB, has the potential to improve transaction speeds and reduce fees. Enhanced functionality, coupled with a dedicated community of supporters, could contribute to SHIB’s future market cap growth.&nbsp;</p>
 <p class="paragraph">Negative exchange netflow for SHIB in the past week suggests reduced selling pressure, indicating a potential shift in investor sentiment towards accumulation. The transition to self-custody methods is seen as bullish, reducing immediate selling pressure as holders opt for long-term storage solutions.&nbsp;</p>
 <p class="paragraph">Shibarium’s progress and SHIB burn rate are notable milestones, with over 4 million total blocks on the network indicating active usage and adoption.&nbsp;</p>
 <p class="paragraph">Furthermore, a significant increase in daily transactions has been observed, reflecting growing utility and demand for the token.&nbsp;</p>
 <p class="paragraph">The SHIB burn rate surged by almost 50,000%, removing millions of tokens from circulation to make it scarcer, potentially increasing its value over time as supply decreases.&nbsp;</p>
 <p class="paragraph">Adding to the bullish sentiment, the respected crypto analyst, <em>CRYPTO SHERIFF</em>, recently predicted a breakout for SHIB, potentially leading to a 350% price surge in the near future.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">#SHIB Update | Breakout is happened! https://t.co/e3cjDZvKyq pic.twitter.com/603MMrDQ7d</p>— CRYPTO SHERIFF (@Gem_Sheriff) April 8, 2024
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 <h2 class="wp-block-heading" id="h-dogecoin-doge">Dogecoin (DOGE)</h2>
 <p class="paragraph">Dogecoin currently holds a <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> capitalization of $23.2 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>, substantially lower than its May 2021 all-time high of $46.14 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>.&nbsp;</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="952" height="74" src="https://cdn.thebittimes.com/images/2024/04/15/9a0f82367251ccae70600c914a841416.webp" alt class="wp-image-169136" srcset="https://cdn.thebittimes.com/images/2024/04/15/9a0f82367251ccae70600c914a841416.webp 952w, https://cdn.thebittimes.com/images/2024/04/15/9a0f82367251ccae70600c914a841416.webp 300w, https://cdn.thebittimes.com/images/2024/04/15/9a0f82367251ccae70600c914a841416.webp 768w" sizes="(max-width: 952px) 100vw, 952px">
  <figcaption class="wp-element-caption">
   DOGE market capitalization. Source: <em>CoinMarketCap</em>
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 <p class="paragraph">However, DOGE’s association with influential figures like Elon Musk continues to generate interest.&nbsp;</p>
 <p class="paragraph">Additionally, wider adoption of Dogecoin as a payment method could significantly impact its price and market cap. Similar to SHIB, DOGE’s past performance suggests the possibility of reaching $25 billion in 2024.&nbsp;</p>
 <p class="paragraph">Ultimately, their ability to establish real-world use cases will influence their long-term market cap potential. 2024 has so far been an interesting year for both SHIB and DOGE.&nbsp;</p>
 <p class="paragraph">While both started with a slight price dip in January, they’ve seen significant recovery. As of April 15, SHIB boasts a year-to-date (YTD) increase of 116.55%, and DOGE sits at a respectable 74.14% increase.&nbsp;</p>
 <p class="paragraph">With plenty of time left in the year, further developments and potential market shifts could see these meme coins continue their impressive performance.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/2-meme-coins-to-reach-25-billion-market-cap-in-2024-tbt85413.html">https://thebittimes.com/2-meme-coins-to-reach-25-billion-market-cap-in-2024-tbt85413.html</a></p>

2 meme coins to reach $25 billion market cap in 2024

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