Dogecoin is one of cryptocurrency’s classic altcoins poised for a moonshot in 2024. But crypto altcoin gem hunters looking for the kind of gains DOGE delivered investors in 2021 could be barking up the wrong tree. Successful blockchain projects usually deliver less upside to investors in each new long term market cycle. That’s where new projects like $KAI Cat come in.
Many regulated investors still view Bitcoin as a high-risk investment, even after the SEC approved over a dozen ETF issuers for spot $BTC. Crypto veterans, however, understand it is a fairly conservative investment that still outpaces high-flying tech stocks in the NASDAQ on most days and weeks when its price isn’t wildly correcting from its high energy price surges.
Web3 is developing fast, and new currencies like $KAI Cat tokens that no one heard of just a couple years ago are already on popular mainstream news pages today. Even Solana meme coin Dogwifhat (WIF), which only debuted last November, already receives attention in the pages of financial news outlets like Bloomberg as well as Yahoo Finance.
Why Crypto Traders Love Meme Coins Like $KAI Cat
To illustrate how important it is for crypto investors looking for high-risk / high-reward investment opportunities in the blockchain space to research new Web3 projects like $KAI instead of following the crowd into Bitcoin, here’s a piece from Blockworks with TradingView data showing how the upside for projects diminishes as they become more successful and enjoy wider adoption:
Blockworks reports:
“Starting from one year before each previous halving, bitcoin peaked at:
- 50,000% one year after the 2012 halving.
- 8,500% nearly one and a half years after the 2016 halving.
- 1,000% one and a half years after the 2020 halving.”
If this pattern repeats after the most recent halving, Bitcoin will return $BTC holders less than 170% of their principal investment sum by its next long-term price peak. While that is still hard to believe in the context of historical bond, gold, and stock market returns, crypto investors looking for the ROI that Bitcoin delivered in 2013 go for coins like $POPCAT and $KAI Cat.
Kai Price Could Moon Soon
Although there is no telling for certain what any investment will do in the future until markets have moved, Dogecoin price is poised to climb this year after correcting nearly 40% in April from a 27-month high fetching $0.22 a token on major crypto exchanges. As stock investors on Wall Street say— even a dead cat bounces.
For proof this holds true in the crypto market, look no further than Terra Classic (LUNC) and FTX tokens (FTT). After the abysmal collapse of these two projects’ market caps in 2022 it may be utter lunacy to invest in either.
LUNC (formerly LUNA) collapsed due to a critical failure in its design for a decentralized stablecoin and FTT crashed under incompetent and fraudulent management, but their prices still pumped this past November during the Bitcoin ETF rally and again in March during the Bitcoin halving rally.
But Dogecoin is no dead cat. It is a highly secure proof-of-work blockchain with the 8th largest market capitalization among all cryptocurrencies, securing some $19 billion worth of Dogecoin at the beginning of May 2024. The coin has been around since Dec. 2013. After changing hands for $0.22 last month, it’s a steal for $0.13 at the time of writing.
It’s still the king meme coin after all these years, but investors looking for an opportunity for massive gains like Dogecoin represented in 2021 may want to look into $KAI Cat.
