These days, crypto meme coins are where all the real price action is. While most major projects have already attracted serious investment, there are some meme coins in the market that haven’t yet gone through major price swings, and unlike most projects, they are massively influenced by social media trends.

Let’s dive into two interesting meme coin projects that look like they could be due an upward price movement in the near future and assess just how far they could climb if the stars align.

ApeCoin (APE)

Apecoin is a fairly well-established meme coin already worth over a dollar. The price is currently $1.23, with a market cap of $454 million and a 24-hour trading volume of $44 million. However, just because the price is so high doesn’t mean the days of gains are over.

ApeCoin had a rough year and is currently way down from its yearly high of $6.28, meaning there is plenty of room for upward momentum should a bull run grace the market once more.

The ApeCoin ecosystem includes the renowned Bored Ape Yacht Club (BAYC) NFT collection, arguably the gold standard of the NFT industry. While the bearish price action in the NFT market has spilled out into the value of APE itself, the project still has a huge online following that is simply biding their time till the next bull market.

ApeCoin’s social media is very active, meaning this project could be well worth keeping an eye on as a potential heavy mover. If the NFT market picks back up or if the ApeCoin community can manage to funnel some of the support they showed the BAYC collection into the wider ApeCoin project, there’s no telling how high this project could climb.

El Hippo (HIPP)

El Hippo is a far younger meme coin, just 5 weeks old, and already boasts a market cap of $3 million. The project has seen a successful multi-million dollar launch thanks to the Hippo Army fanbase active on social media, sharing memes and trading insights.

The coin is currently worth $0.000000004685 with a 24-hour trading volume of $350,000. Price has been trading in an extremely tight range for days, perhaps signaling an upcoming breakout. Developers are reportedly locking over 90% of the tokens in a liquidity pool that they can no longer access, a trust-building move that could easily prove to the catalyst HIPP needs to make an upward movement.

Obviously, with such a low valuation of a young coin, even a small increase in price could result in the kind of major gains that drew many to crypto in the first place, although it should be noted that meme coins are, like all crypto, a risky business.

Meme Coin 2023 Price Outlooks

While there’s no crystal ball in crypto, the case might be leaning bullish for these two coins in a market where many altcoins are beset with bearish price action and overall conditions, making both ApeCoin and HIPP meme coins to watch.

If ApeCoin manages to return to its earlier price point above $6 under the right market conditions, this would mark a 600% price increase if the altcoin market begins to pick back up. El Hippo, on the other hand, could really do the numbers under the right circumstances. PEPE saw a 1,000,000,000% price increase solely due to the power of the meme community propping up prices by fostering a great community online.

If ApeCoin and El Hippo can build the kind of grassroots momentum that sets meme communities apart from your average crypto project, the sky is truly the limit.

For More Information on El Hippo: El Hippo Website | Check out $HIPP meme coin| El Hippo Community

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Filed under: Bitcoin - @ October 1, 2023 8:10 am