Meme coins are riding a wave of strong tailwinds, thanks to Bitcoin’s push past the $66k mark on Monday.
For instance, the Book of Meme (BOME) price is up by nearly 35%, with the meme coin on the cusp of entering the top 100 crypto list on CoinMarketCap.
Similarly, the SPX6900 (SPX) coin has emerged as the latest meme coin sensation, soaring by over 3000% over the past month.
While sidelined investors are considering FOMO buying these meme tokens, experts have been suggesting a few low-cap alternatives like STARS and FLOCK, backing them as the best cryptos to buy now.
Is It Too Late To Buy SPX6900, BOME?
After taking a backseat to other Solana meme coins like Dogwifhat, Popcat and Bonk, the BOME coin appears to have finally started its upside move to new all-time highs.
Experts claim that Book of Meme at a market capitalization of just $675 million is undervalued, especially considering it is a Binance meme coin.
The BOME price has finally breached its multi-month downtrend, which typically is an extremely bullish signal for meme coins. Using Elliot Wave Theory for his bullish thesis, prominent crypto investor Bluntz (@Bluntz_Capital) projects that Book of Meme could soon reach the $0.03 mark, which would mean another 3x move from its current price.
wholeheartedly agree, nobody talking about it and the chart currently breaking out in a big way.so much higher imo.$BOME https://t.co/4Qrn4p2GwM pic.twitter.com/iXnRcNvsrl
— Bluntz (@Bluntz_Capital) October 14, 2024
Meanwhile, prominent crypto influencers like Murad are backing SPX6900, the latest meme coin sensation that is up by nearly 3000% over the past month.
While Murad claims that the SPX6900 - which is the highest conviction play for the supercycle - could potentially reach a $100 billion market cap, some of the more realistic projections have the meme coin peaking at $7 billion, which would still nearly be a 10x upside move from its current price.
However, the possibility of profit-taking from whales and influencers cannot be ignored. For instance, Murad holds 30 million $SPX coins in a public wallet that was recently doxxed by crypto analyst ZachXBT.
1/2 I uncovered 11 high confidence wallets tied to @MustStopMurad holding ~$24M in meme coins on Ethereum and Solana so the community can monitor his future activity. pic.twitter.com/OTx6XMguTA
— ZachXBT (@zachxbt) October 9, 2024
Considering that Murad is one of the token's biggest promoters, even a small profit-taking move on his part would likely trigger panic-selling among other investors.
Unsurprisingly, analysts like Asad are advising sidelined investors to wait for a 30-40% correction in the SPX6900 price before investing in it.
Even if BOME and SPX6900 reach the aforementioned lofty targets, new buyers at the current price would still reap limited returns owing to their relatively high market capitalization. It is no surprise that smart money investors are hunting for low-cap gems intending to net up to 100x returns.
Are These Low-Cap Meme Coins The Best Cryptos To Buy Now?
A low-cap meme coin - Crypto All-Stars (STARS) - is creating quite a buzz among meme coin enthusiasts, with its utility-driven nature, high staking rewards and strong early demand.
https://x.com/all_stars_coin/status/1842560460945854726
The STARS presale has already surpassed the $2.2 million mark, thanks to some large whale investments. Despite the strong demand, experts are even more impressed with its MemeVault platform, the first-ever multi-chain staking protocol.
To begin with, investors can stake up to 11 meme coins - including DOGE, PEPE, and SHIB - in the staking pool and earn attractive passive income while those staking STARS will earn thrice the rewards.
With its small-cap valuation, some prominent investors are aiming for up to 70x gains with Crypto All-Stars.
Similarly, Flockerz (FLOCK) - a vote-to-earn meme coin - has received strong community backing, including from popular crypto influencers. The meme coin has raised nearly $700k in its presale, with some even calling it one of the best crypto to buy now.
At its core is the Flocktopia DAO, which allows FLOCK holders to decide the direction of the project with their votes while receiving monetary rewards for it. Besides, they can also stake their coins during the presale and earn industry-high APY, currently over 2500%.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
