The memecoin industry has surged over the past few months, with its market cap at over $70 billion a few days ago. After the recent correction, that number is currently around $64 billion.
According to CoinGecko, there are currently more than 2,300 memecoins, which have attracted market attention in part due to recent price fluctuations and other factors. Below we will focus on five interesting assets that may see significant fluctuations in the next 30 days.
The leading meme coin by market cap has been leading the rally recently, surging 17% over the past week.
One of the reasons for Dogecoin's recent strong performance may be related to Elon Musk's interaction. Last week, Tesla CEO Musk appeared at Donald Trump's rally at Madison Square Garden, calling on the public to support the Republican candidate in the upcoming US presidential election on November 5.
He reiterated that if Trump is re-elected, a Department of Government Efficiency (DOGE) will be established. In addition, Musk also posted an interesting photo on the social platform X: the upper half of the picture shows him showing off his muscles during a speech, and the lower half shows a Shiba Inu similar to the DOGE logo showing off its muscles.
Musk's potential support may trigger further fluctuations in the price of Dogecoin after the election results are released. As a staunch supporter of Dogecoin, the head of Tesla has repeatedly praised its advantages, boosting the popularity of the coin.
The second-largest meme coin performed well until the end of October, but it has experienced a sharp correction in the past 24 hours, erasing some of its previous gains. However, factors such as Shibarium's recovery and SHIB's destruction plan suggest that the price of the currency may soon return to an upward trend. According to the latest report from CryptoPotato, the daily transaction volume of Shibarium, a second-layer blockchain solution, has rebounded to millions, while the destruction rate of SHIB has also soared 252,900% in the past day.
This continued destruction action will reduce the number of SHIB tokens in circulation and increase scarcity, which may push up prices if demand remains unchanged or increases.
The Trump-related "Make America Great Again" (TRUMP) and Harris-related "Kamala Hollis" (KAMA) tokens could see significant volatility this month. If the Republican candidate wins, TRUMP's rise may be in line with expectations, while KAMA may rise if the Democrats win.
However, the trend of the meme coin market is always full of uncertainty, and the specific rise and fall will have to wait for the election results to observe the reaction of such tokens.
The largest cat-themed meme coin, Popcat (POPCAT), has been one of the best performing currencies in the market this year. On October 29, its price hit an all-time high of nearly $1.80 and is currently worth $1.65 (up 23,500% since January 1).
On Crypto X, many analysts predict that the token will see further gains in the short term. A user nicknamed "shah" even said that POPCAT "will lead other cute cats to the pinnacle of the crypto field (Valhalla)." Despite this, the market trend in November is still full of unknowns, and future developments are worth looking forward to.
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