With penny cryptos moving higher over the past few weeks, some investors are scrambling to secure tokens in anticipation of a breakout. While Bonk and Shiba Inu are often touted as strong contenders, many are choosing instead. Its AI-generated memes and SocialFi approach could be a golden ticket in 2024—read on to find out why.
Raboo could have 100x in store
With the penny crypto meme market beginning to heat up, it’s becoming more difficult to ignore Raboo. Surging ahead by 90% to the 5th Stage of its presale after raising a whopping $2.5 million, Raboo has attracted thousands of investors with its AI-driven SocialFi ecosystem. Some analysts see a similar run to Bonk and Shiba Inu’s in the near future, potentially reaching 100x once it hits exchanges.
Raboo has big ambitions of building one of the largest meme-based communities in Web3 and ultimately climbing to top 20 status. It offers a proprietary meme scanner and generator, Rabooscan, that allows investors to create AI-generated memes. These memes can translate into extra $RABT tokens, either through winning regular competitions or sharing them on social media, thanks to Raboo’s Post-to-Earn feature.
With this utility supported by upcoming staking pools, an NFT project, and a deflationary token-burning mechanism, Raboo’s profit potential is incredible. There’s still a possible 143% left to climb before the presale’s conclusion, which could offer early backers a chance to multiply their prospective gains once $RABT goes live.
Bonk’s rollercoaster ride
Debuted in late 2022, Bonk was the first dog-themed meme coin launched on the Solana network. Bonk airdropped 50% of its total supply to the wider Solana community and quickly became a mainstream hit. While BONK was initially relatively subdued throughout 2023, it shot into the spotlight after rising almost 7,300% in a year between May 2023/2024.
Campaigns like those run by Revolut have only added to Bonk’s visibility, with now holding BONK. Other features, like the Bonk Swap decentralized exchange (DEX), a Telegram trading bot, and a decentralized autonomous organization (DAO), have only added to Bonk’s value.
BONK has also performed well recently, up more than 16% over the week. However, increasing competition in the penny crypto space—especially from Raboo—has led some to scale back their Bonk price predictions in favor of newer, under-the-radar alternatives.
Shiba Inu continues attracting investors
With a market cap of over $12 billion, Shiba Inu is the second most valuable meme coin, trailing just behind Dogecoin at the #13 spot. It was created by a pseudonymous figure known as Ryoshi in 2020 and quickly became one of the most popular penny cryptos. Nowadays, SHIB has built a loyal following, with holding the token and 518,000 joining the r/SHIBArmy subreddit.
Shiba Inu has retained its position by building a utility-backed ecosystem, including a layer-2 scaling solution, DEX, a crypto-based mobile game, and even an upcoming stablecoin known as SHI. Like BONK, SHIB has climbed higher over the past week, up over 44%. While some expect it to reach new yearly highs soon, a reinvigorated penny crypto and meme coin market could send newcomers like Raboo on a much bigger run.
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