Top Meme Coins 2024: What Happened & What's Next?

The overnight surge in market leader BTC above $60,278 on August 8th showed a big green candle. Besides, when writing, the crypto market leader took a halt above resistance-turned-support. With a significant boost in top meme coins price, the crypto market cap has surpassed the $2 trillion mark, precisely at $2.11 Trillion.

Meme coins have been a hot topic in the crypto world, and for good reason. They can offer huge gains, especially in a bull market. But what are the top meme coins in 2024, and what kind of returns can investors expect?

In this article, we'll take a look at the top 3 meme coins before the market recovers to make giant returns and cut out some FOMO.

With the broader market ups and downs in various asset prices, meme coins emerged as a beneficial crypto category. They can aim for big gains in the second half of 2024, as elections are near, and nominee-based memes could also show gigantic returns.

In the past price action, the meme sector saw a robust boost in the 1st quarter of 2024. However, gains were only managed for a short time and started to suffer correction in the 2nd quarter. As we entered the third quarter, a few meme coins began to turn green again.

Let's analyze the potential price movements in top memecoins and the returns investors may anticipate soon.

Dogecoin (DOGE)

As the meme coin leader, Dogecoin ranks 9th amongst the top 10 cryptocurrencies in terms of market cap. DOGE traded at $0.1045 at press time and had a market cap of $15.19 Billion.

The price bounced recently from a long-coming support trendline. If DOGE breaches the upper border of the wedge, it can start a new bull run in a falling wedge pattern. With the recent surge, the meme coin reclaimed the $0.097 level and displayed 26% gains from August 5th.

With an increased breakout chance, the Dogecoin price can reach $0.22, a 120% surge from the current market price.

Shiba Inu (SHIB)

Shiba Inu, the second biggest meme coin with 13th position globally, clearly showcased a declining wedge pattern at press time. It has recently surged by testing the crucial support trendline. The strong buying has been witnessed, as a liquidity grab candle has formed from the $0.00010 psychological level, coinciding with trendline support coming from the year's second quarter.

The meme coin SHIB traded at $0.00001412, experiencing a slight surge of 0.43% after the recent surge.

According to the daily chart structure, breaking through the upper trendline of the wedge is the key to a sustained upward direction movement. A successful breakout could signal a significant price advancement, with bulls eyeing the level at $0.000022 or even at $0.000029 if the momentum continues.

PEPE (PEPE)

PEPE, ranked ]24th among top cryptocurrencies, has shown a massive bull run since its inception. It maintains a solid bullish traction with a year-to-date growth of almost 550%.

However, the recent correction became intense, with a loss of $0.0000100 and the psychological support and the 200-day and 50-day EMA. Pattern-wise, it showed a breakdown of an ascending wedge. Nevertheless, PEPE’s decrease has found a foothold at the horizontal support level of $0.00000600.

The upward trend may soon challenge the resistance of $0.0000100 and $0.0000135. A bullish breakout above this resistance trendline could trigger a rally in PEPE again for the new all-time high (ATH).