The cryptocurrency market looks poised for another strong rally in December, with Bitcoin recently reaching its highest price in 18 months. This means that meme coins could be set for another parabolic trajectory.
However, many investors have difficulty figuring out which investor will have the most to invest. With that in mind, this article provides the top five meme coins to watch out for this month. We consider pricing, market trends, community, token economics, and use cases.
combat memes
Our top pick for the best meme coins of December 2023 is Meme Kombat. The project is a powerful mix of meme coins and GambleFi utility tokens, making it attractive to two broad audiences.
It’s currently in pre-sale, and has raised $2.3 million in just two months. But with the support of so many top analysts and media outlets, it’s no surprise that the project has been a success.
YouTuber Crypto Boy recently labeled the project as having 10x potential, highlighting token engineering and usability as its main advantages over other meme projects.
Meanwhile, Meme Kombat was also covered by major media outlets such as Crypto Potato, BeInCrypto, Cointelegraph, Crypto News, etc.
So this begs the question. What’s the hype? Simply put, Meme Kombat allows users to use $MK tokens to gamble on battles between AI-generated meme characters.
This gives users a fun way to gamble and potentially win cryptocurrency, capitalizing on the viral cryptocurrency gambling trend and providing a utility-driven demand flow for $MK.
It also features a 373% APY and a staking mechanism where 25% of $MK total supply is allocated to staking rewards. This also contributes to increased demand for the token, helping to drive up its price.
Investors can purchase $MK in the pre-sale at a discounted price of $0.225, but they need to hurry as it will rise to $0.235 in 5 days.
Dogecoin
Dogecoin is the most established meme coin on the market, with a significant market capitalization and the backing of one of the world’s most influential business moguls. The project was launched in 2013, but burst into the mainstream in 2021 when Elon Musk chose it as his favorite cryptocurrency.
It has a market capitalization of $11.9 billion, but it is far from its 2021 all-time high (ATH), so there is significant room for growth. The price of DOGE is $0.08429, up 1.1% over the past day, up 7.8% this week and 22% this month.
However, it retains 88% of your ATH, giving you room for nearly 10x, or more if you create a new ATH.
Meanwhile, Dogecoin is also poised to rise in the near term. While many other meme coins have risen more than 100% in recent months, Dogecoin has lagged. However, some traders believe it is only a matter of time before the major meme coin rebounds.
X analyst KALEO is quite bullish on Dogecoin and predicts that it will hit new near-term highs after the November decline.
Another reason to watch Dogecoin this month: real, community-funded Dogecoins are being sent into space. This would generate a ton of excitement and could potentially even get Elon Musk to tweet about the project again.
Bonk
Bonk is an interesting meme coin based on Solana that was launched in December 2022 but has recently achieved tremendous success. Since September, it has been prospering with a large Solana coin.
Bonk is currently Solana’s primary meme coin, so if Solana continues to rise, Bonk will likely follow suit.
Bonk has a market capitalization of $251 million and a price of 0.000004636. It’s up 17% in the last 24 hours, 7% this week, and 555% this month. It is trading 17% lower than ATH $0.000005327 on November 20th.
The Bonk website explains that it was initially launched as an airdrop in December 2022, but has since grown into “a true community coin on the web3.”
Like Dogecoin, it does not offer any unique utility except as a means of payment. However, it boasts over 130 application integrations, including DeFi, gaming, and NFT protocols. The website also states that Bonk is currently available on 10 blockchains.
However, the biggest reason to watch Bonk is because it is not currently listed on Binance and Coinbase. However, considering the rapid rise, it seems inevitable that one or both of these exchanges will list the token this month. When this happens, you will soon see Bonk exploding to new highs.
Gorilla
Gorilla is another upcoming meme coin that has recently achieved notable success. However, it shares more similarities with Meme Kombat than Dogecoin or Bonk. This is because it incorporates cutting-edge utilities, giving it a unique advantage over its competitors.
Essentially, Gorilla is a meme coin cross-DeFi ecosystem that offers an IDO launchpad, cross-chain token exchange tool, and peer-to-peer trading dApp.
The price is $0.01245 and the market capitalization is $8.7 million. The price fell 10.8% in the last day but is up 831% this week.
However, with these exemplary recent pumps, investors should be aware that this is a high-risk cryptocurrency. Nonetheless, the low market cap suggests significant upside potential to reach the top 10 meme coins by market capitalization.
Another promising factor is that $GORILLA will be used to strengthen the ecosystem. This provides a significant potential demand stream if the platform becomes popular.
We will also redistribute 50% of Launchpad fees to the Gorilla ecosystem to help it grow and fund token buybacks.
This new use case has put Gorilla on CoinMarketCap’s top trends list this week, another sign of strong bullish momentum.
However, it is important to watch the current price range. A clear break from short-term support or resistance could lead to the next explosive move in either direction.
pepe
Our final selection of meme coins to watch in December is Pepe. The project achieved an unprecedented rise in the recent bear market, reaching a market capitalization of $1.8 billion within a month of launch.
Then, after months of declines, Pepe is now up 4.4% and starting to show strong signs of recovery at $0.000001144, up more than 100% since mid-October. That means it is currently only up 0.8% over the past month.
However, the recent pump has created a huge bullish price chart pattern, indicating that it could soon rise to new local highs.
X analyst Eunice D Wong recently noted that Pepe has just broken a pennant flag formation that has been trading inside since early November. A pennant flag is a short-term continuation pattern in which price consolidates before the trend resumes.
Moreover, the analyst pointed out that this breakout coincided with breaking the 200-day EMA, further increasing the likelihood of a clear uptrend.
Pepe’s recent bullish trajectory follows the team relinquishing control of the project by burning $6.9 trillion in PEPE and introducing a new advisory team to guide the project forward.