Shiba Inu (SHIB) and Dogwifhat (WIF) are top meme coins that have moved up massively since they started trading. The earliest WIF and SHIB investors have had their initial capital 100x or more in 2024 alone.
Meanwhile, analysts believe Lunex, a new utility token, is set to outshine top meme coins like SHIB and WIF with its various use cases. The Lunex Network is currently on presale, raising over $5.7 million. What are these drivers that position Lunex for greater gains? Let’s find out.
SHIB surges by nearly 100%: What’s next?
SHIB boasts an elder status in the meme coin market. It’s no surprise that it has experienced massive attention from investors. Consequently, the SHIB price has a year-on-year (YOY) growth of nearly 100% as of the time of writing, trading for around $0.000021.
Like other meme coins, the surge in the SHIB price follows the good run in the broader meme cryptocurrency market. Moreover, influential figures like Elon Musk also contributed to the SHIB hype. However, a 32% fall in price in the past month calls for caution, as SHIB is currently in the red zone.
WIF is among the top meme coins of the year
Dogwifhat (WIF) is another meme coin that has had an impressive year. Despite being a relatively newer meme project, the WIF price has surged by over 850% in 2024, surpassing top meme coins like Dogecoin, Shiba Inu, and Bonk. Not even established cryptocurrencies like Bitcoin and Ethereum can boast such numbers as WIF within the past year.
Like SHIB, the WIF price is also influenced by social media hype and its budding community. That’s why the coin has been unable to sustain its massive growth in the past month. The WIF price is down over 42% in the last 30 days. With the hype dwindling, it looks unlikely that WIF will reach or surpass its $4.85 all-time high reached in March 2024.
Will utility be the decider of the next 1,000x token?
Top meme coins have shown great possibilities in the crypto market, returning massive gains in a couple of months. However, SHIB and WIF have shown that without their hype being sustained on social media, meme coins can be dead in no time. This is why experienced investors opt for utility tokens to balance their portfolios or avoid the extremely sharp volatility that meme coins experience.
One such coin is Lunex, a new utility token currently on presale. While the presale has been showing early signs of success, the project is much more than monetary numbers. It is a reflection of how quickly the new project has found its place in the DeFi market. The DEX allows traders to transfer assets across multiple blockchains seamlessly. This means DeFi traders and investors can access better liquidity cost-effectively and more efficiently via Lunex.
Moreover, there’s a Lunex reward program that allows token holders to earn passive income up to 18% APY via staking. Traders can also earn cashback on every transaction completed on the Lunex DEX.
The Lunex token powers these various features, making it more poised for sustained growth over meme coins. Interestingly, investors are bullish on LNEX, which is currently trading at a low price of $0.0052.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
