Meme coins are once again heating up as the broader market experiences a bull phase.
While these coins come with a high risk, experienced traders know that massive gains can be realized with the right plays.
Here are seven meme coins that could be primed for vertical growth if the favorable market conditions continue.
First on our list is Scotty the AI (SCOTTY), an Ethereum-based token that has been turning heads in the past week.
Although Scotty the AI is still in presale, over $1 million in funding has been raised ahead of its release.
Investors have piled into the presale to buy SCOTTY tokens, believing they could see a price surge once listed on exchanges.
The reason for this is that SCOTTY fuels two of Scotty the AI’s most talked-about features – the Scotty Swap DEX and the ScottyChat chatbot.
With almost 3,000 people already following the project’s Twitter account, this hot meme coin is undoubtedly on investors’ radars.
Another hot meme coin investors may wish to consider is Smog (SMOG), a dragon-themed token making waves on Solana.
SMOG debuted on the Jupiter DEX in early February and immediately soared over 3,000%, producing enormous returns for early buyers.
There are now over 30,000 SMOG holders – and the project currently offers staking yields of 42% per year for those happy to lock up their tokens.
Adding to the appeal is Smog’s massive airdrop campaign, which will see 35% of the 1.4 billion supply distributed to community members.
With a burn protocol also hinted at on the project’s roadmap, SMOG is one to watch for those seeking under-the-radar meme coin gems.
As its name implies, Frog Wif Hat (FWIF) is designed to capitalize on the considerable hype behind Solana-based dogwifhat (WIF).
FWIF is currently hosted on Ethereum, yet the creators plan to migrate the token to Solana in Phase 2 of the roadmap.
This unique approach, involving multiple blockchains, could attract a broader investor base – helping boost FWIF’s value in the long run.
Adding to the project’s appeal is that all minted FWIF tokens are in circulation, and liquidity has been locked on Uniswap.
With the token up 88% in the past two days, FWIF is clearly drawing attention due to its multi-chain approach.
Another hot meme coin investors should watch is the OG – Dogecoin (DOGE).
DOGE has been on a tear lately, trading around $0.129, its highest value since November 2022.
Rising network activity and enormous open interest have fueled retail demand for DOGE, pushing its price higher.
Although not as small as the other meme coins on our list, Dogecoin could still have plenty of room to grow, especially if it begins to attract whale investors.
Baby Troll (BABYTROLL) is a low-cap meme coin currently ranked first on CoinMarketCap’s list of the most-visited cryptos in the past 24 hours.
With a total supply of 420 quadrillion tokens, BABYTROLL currently has a market value of just $3.4 million.
Despite its low market cap, BABYTROLL has generated significant buzz from investors, mainly due to its 1% transaction fee that goes to marketing and liquidity.
Ultimately, Baby Troll could be worth checking out for those seeking an under-the-radar meme coin with a fast-growing community.
Turbo (TURBO) is a meme coin the developers claim was created by artificial intelligence.
The creators used ChatGPT to create the “next great meme coin,” – and the chatbot’s result was TURBO.
TURBO has a total supply of 69 billion tokens, no taxes, and the creators have also renounced ownership.
With TURBO trading volume up 62% in the past day, this is another trending meme coin that could be in line for a fruitful few days ahead.
Rounding off our list of hot meme coins to buy is Wen (WEN).
WEN is a community meme coin based on a fractional NFT, which saw a poem split into a trillion pieces that are tradable like regular Solana tokens.
Each WEN token equals proportional ownership in this poem – an approach that led to huge demand when the token launched via Jupiter’s launchpad.
Over $77 million worth of WEN traded hands in the past day, and with the token’s value up 82% since last week, it’s one to watch for those seeking something different in the meme coin space.