The fear of missing out (FOMO) is driving investors deeper into the crypto market for the treasure hunt that could see them make the most out of the bull market in 2024. For some, meme coins stand out as affordable digital assets with immense potential. Therefore, it may be prudent to highlight projects like Dogecoin (DOGE), BONK, and Optimus AI (OPTI) before they rapidly break out alongside leading cryptos like Bitcoin and Ethereum.
Meme Coins Surge As Euphoria Reigns
The majority of meme coins are in the green led by the largest in the category Dogecoin up 10%, Bonk up 11%, Dogelon Mars 12%, Optimus AI up 67% and more.
During the previous bull run in 2021, meme coins took center stage tuning ordinary investors into crypto millionaires. Since then, the uphill battle has been to spot the right meme coin for maximum return on investment.
2. Dogecoin (DOGE)
Dogecoin is among the top three trending meme coins according to market data by CoinGecko. On top of the 10% move in the last 24 hours, the leading meme coin has accrued 25% gains in seven days, 35% in a fortnight, and 36% in the last 30 days.
The bullish thesis in DOGE price strengthened in October, with the token loved most by billionaire Elon Musk, climbing by 52% from its breakout above a multi-month trendline, as shown on the daily chart.
Recovery above $0.1 this week will likely assure investors of the uptrend’s potential. Therefore, upholding this level as support should be the bulls’ priority in the short term.
Dogecoin price chart | Tradingview
Dogecoin easily tops the list of meme coins to consider buying in December mainly due to its position as a tried and tested project. Its connection to Musk is another key factor to consider, especially with Twitter (now X) likely to add support for DOGE to power crypto payments on the platform. Besides, Dogecoin enjoys the support of the vibrant community who would like to see the token surge to highs above $1 in a few months to come.
2. Bonk (BONK)
The first meme coin in the Solana ecosystem BONK is performing exceptionally well, trading only 5% below its all-time high of $0.000085 in December 2022.
Despite the massive breakout from support at $0.00000018, Bonk exhibits a strong bullish structure. Based on the Relative Strength Index (RSI) bulls have the reins, which insinuates that Bonk might close the week above the next important resistance at $0.00001.
Bonk price chart | Tradingview
In case of a correction from the current market value of $0.0000081, the former resistance highlighted in the red band on the chart would come in handy to stop the decline and serve as the springboard for a larger breakout.
3. Optimus AI (OPTI)
Optimus sits at an interesting position cutting across the trending artificial intelligence industry and the meme coin segment of the crypto market.
The Ethereum project designed in “honor of Elon Musk and Tesla’s latest innovation and venture, the Optimus robot humanoid (AKA the ‘Tesla AI Bot’),” has increased in value considerably, surging 63% in 24 hours, 60% in a week and 60.8% over the last 30 days.
It is advisable for investors looking to start to dollar cost average (DCA) into OPTI, to wait until higher support is confirmed or a pullback is completed paving the way for the resumption of the uptrend.
That said, support should be anticipated at $0.3 but if traders lock in the gains, selling pressure may prevail resulting in dips to lower support areas at $0.25 and $0.2.
Optimus AI price prediction chart | Tradingview
If support at $0.3 holds, Optimus AI would be suitably positioned to scale higher levels targeting $1.
Disclaimer: It is advisable to do your own research (DYOR) before buying any crypto as this is not financial advice.
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