With Bitcoin recently reaching its highest price in over 18 months, the crypto market looks primed for another strong leg up in December. This means that meme coins could be set for another parabolic trajectory.
However, many investors struggle to identify which ones will pump the most. With that in mind, this article provides the five top meme coins to watch this month. We consider price, market trends, community, tokenomics, and use cases.
Our top pick for the best meme coin in December 2023 is Meme Kombat. The project is a compelling blend of meme coin and GambleFi utility token, appealing to two vast audiences.
It is currently in its presale, having raised $2.3 million in just two months. Yet, its success is no surprise, with the project backed by countless top analysts and media outlets.
YouTuber Crypto Boy recently labelled it as having 10x potential, highlighting its tokenomics and utility as key advantages over other meme projects.
Meanwhile, Meme Kombat has also received coverage from top media outlets like Crypto Potato, BeInCrypto, Cointelegraph, Crypto News, and many more.
So this begs the question, what’s all the hype about? In a nutshell, Meme Kombat enables users to gamble on AI-generated battles between meme characters using the $MK token.
This provides users a fun way to gamble and potentially earn crypto, tapping into the viral crypto gambling trend and providing a utility-driven demand stream for $MK.
It also features a staking mechanism with a 373% APY and 25% of the $MK total supply allocated to staking rewards. This will also contribute to increased token demand, helping bolster its price.
Investors can buy $MK at presale for a discounted price of $0.225, but they must hurry as this will rise to $0.235 in five days.
Dogecoin is the market’s most well-established meme coin, with a significant market cap and backing from one of the world’s most influential business moguls. The project launched in 2013 but rose to mainstream prominence in 2021 as Elon Musk picked it as his favourite cryptocurrency.
It holds a $11.9 billion market cap but has significant room for growth because it remains far from its 2021 all-time high (ATH). DOGE’s price is $0.08429, up 1.1% in the last day, 7.8% this week and 22% this month.
However, it remains 88% from its ATH, giving room for almost a 10x, or even more if it creates a new ATH.
Meanwhile, Dogecoin is also poised to pump in the short term. While many other meme coins are up 100% or higher in recent months, Dogecoin has lagged behind. However, some traders believe it is only a matter of time before the leading meme coin rallies.
X analyst KALEO has been significantly bullish on Dogecoin, predicting it will create new near-term highs after a pullback in November.
Another reason to watch Dogecoin this month is that a community-funded physical Dogecoin will be sent to space. This will likely drive massive excitement and potentially even draw Elon Musk to tweet about the project again.
Bonk is an exciting Solana-based meme coin launched in December 2022 but has seen tremendous success recently. Its prospered alongisde the massive Solana coin beginning in September.
Currently, Bonk is the leading meme coin on Solana, so if Solana continues to rise, Bonk will likely follow suit.
Bonk holds a $251 million market cap, priced at $0.000004636. It is up 17% in the last 24 hours, 7% this week, and 555% this month. It is trading 17% below its 20 November ATH of $0.000005327.
The Bonk website explains it was initially launched as an airdrop in December 2022 but has since risen to become the “true community coin of web3.”
Like Dogecoin, it does not offer any inherent utility except as a means of payment; however, it boasts integrations in over 130 applications, including DeFi, gaming, and NFT protocols. Its website also notes that Bonk is currently available on ten blockchains.
However, the main reason to watch Bonk is that it is not currently listed on Binance and Coinbase. Yet, considering its meteoric rise, it seems inevitable that one or both of these exchanges will list the token this month. Should this occur, we could see Bonk explode to new highs shortly after.
Gorilla is another upcoming meme coin that has enjoyed notable success recently. However, it shares more similarities with Meme Kombat than Dogecoin or Bonk. This is because it integrates cutting-edge utility, providing a unique advantage over its competitors.
Essentially, Gorilla is a meme coin-cross DeFi ecosystem, offering an IDO launchpad, a cross-chain token swap tool, and a peer-to-peer trading dApp.
It is priced at $0.01245 with a $8.7 million market cap. Its price is down 10.8% in the last day but up 831% this week.
Yet, with such an illustrative recent pump, investors must be aware that this is a high-risk crypto. Nevertheless, its low market cap presents signficant upside potential to reach the top 10 meme coins by market cap.
Another promising factors is that $GORILLA is used to power its ecosystem. This provides a significant potential demand stream should the platform become popular.
Moreover, it will redistribute 50% of the launchpad’s fees to the Gorilla ecosystem, helping it grow and funding token buybacks.
This novel use case has propelled Gorilla to CoinMarketCap’s top trending list this week, another sign of strong bullish momentum.
However, its current price range is crucial to watch. A clean break from its short-term support or resistance could dictate the next explosive move in either direction.
Our final pick for a meme coin to watch in December is Pepe. The project enjoyed an unprecedented ascent in the depths of the recent bear market, reaching a $1.8 billion market cap within one month of launching.
Then, after months of decline, Pepe has begun to show strong recovery signals, currently priced at $0.000001144, up 4.4% today and over 100% from mid-October. That said, it is currently around break even the past month, up just 0.8%.
However, its recent pump has created a massively bullish price chart pattern, indicating it could climb to a new local high shortly.
X analyst Eunice D Wong recently noted that Pepe has just broken a pennant flag formation, which it has been trading inside since early November. A pennant flag is a short-term continuation pattern where the price consolidates before the trend resumes.
Moreover, the analyst noted that this breakout coincides with a break above the 200-day EMA, further increasing the likelihood of a solid move to the upside.
Pepe’s recent bullish trajectory followed the team’s renouncing control of the project by burning 6.9 trillion PEPE and introducing a new team of advisors to guide the project forward.