As the calendar turns over to July, the winds of the cryptocurrency market are changing, potentially carrying a promising uptrend for adventurous investors. Amid the bearish conditions that have gripped the market towards the end of June, a certain class of digital assets has been stirring interest among the crypto community: mid-cap and low-cap memecoins.
Evidently, the shift in focus from more stable investments to the highly volatile memecoins suggests that investors are on the lookout for short-term gains. This risk-on behavior is underpinned by the potential these coins have shown for rapid price increases, which could result in substantial profits for those willing to gamble on their future movements.
One of the memecoins that has captured attention is BabyTrump. Trading on the Solana chain at $0.007829, BabyTrump houses a circulating supply of 1.6 billion tokens. Despite being ranked 3,725th in the global crypto-list and holding a modest market capitalization of $12.59 million, the coin has become a part of investors’ conversations, hinting at a possible uptrend.
Further down the line, MOTHER, another Solana-based memecoin, has already demonstrated how swiftly fortunes can change in this segment of the market. It has surged an eye-popping 277.46% in the past month alone, with a market cap reaching $59.79 million, ranking it 2,556th globally.
SOLETF, although lesser-known, is not to be overlooked either. With a trading price of merely $0.000000000007484 and a circulating supply of 42,000 T tokens, it has seen a 125.70% price jump in the past 24 hours. Although its market capitalization is on the lower end, sitting at around $321,163 thousand, such movements are what draw investors to speculate on these volatile assets.
Taking a stroll down memecoin lane, we find Hoppy, a coin based on a character from “The Night-Nighters” by Matt Furie. It has hopped upwards by 27.83% in the past week, pushing its market cap to $32.53 million and elevating its rank to 658th.
Lastly, the WHY project, drawing from the endless well of internet memes and operating on the Binance Smart Chain, has posted a trading price of $0.0000001349. With a circulating supply of 420 trillion tokens, its market cap stands at a solid $56.66 million, securing the 508th position on the global crypto-list.
Technical analysis expert Elena, who boasts over ten years of experience including a strong background in journalism, has highlighted the surge in interested investors. This influx could well serve as the launchpad for these memecoins, shooting for the moon this July.
As ever, this area of the crypto market remains highly speculative and fraught with risk. Investors toying with the idea of an expedited 10x return should manage their risk judiciously, as the volatility of memecoins can also lead to equally rapid declines. With this in mind, those with a penchant for high-stakes betting may find these digital assets an alluring prospect for the month ahead.
