5 Meme Coins to Watch in December 2024

November proved to be a turning point for the crypto market, and meme coins emerged as one of the best-performing sectors. In the last four weeks, following Bitcoin’s rise to $99,595, many unexpected meme tokens took the top spot, outperforming major altcoins.

Thus, BeInCrypto has analyzed five meme tokens that are showing signs of potentially becoming a top performer in the month of December.

Department of Government Efficiency (DOGE(GOV))

DOGE(GOV) reached an all-time high (ATH) of $0.545 in November, fueled by heightened interest in the US Presidential Elections. The hype surrounding the political conditions and the involvement of key figures has created a strong surge for the meme coin. However, some analysts suggest that this ATH may not be at its peak yet.

With Donald Trump’s anticipated return to office in January, alongside his announcement of the Department of Government Efficiency, led by Elon Musk, the momentum for DOGE(GOV) could intensify. Musk’s influence, combined with Trump’s backing, creates a unique synergy that could drive DOGE(GOV) to unprecedented heights. This connection may further fuel the coin’s potential rise.

DOGE(GOV) Price Analysis. Source:  TradingView

Given the rapid growth of DOGE(GOV) and a 46% increase in value over the past 24 hours, it’s likely that the cryptocurrency will reach a new ATH by December. If this momentum continues, a surge toward the $1 mark seems achievable.

Bonk (BONK)

BONK reached an all-time high (ATH) of $0.00006230 earlier this month before experiencing a drawdown to $0.00004607. This fluctuation is common for meme coins, reflecting high volatility in short periods. Despite the dip, BONK continues to hold significant potential as market conditions shift.

As a Solana-based meme coin, BONK stands to benefit from the hype surrounding Solana ETFs. Given its connection to the Solana ecosystem, any positive movement for SOL could trigger a price surge for BONK. Market sentiment surrounding Solana is expected to influence the future direction of BONK’s price in the coming days.

BONK Price Analysis. Source:  TradingView

Currently, BONK faces resistance at $0.00004736. If it fails to break this barrier, it could trigger a price pullback, stalling any bullish momentum. A failure to breach this level could hinder its attempt to form a new ATH, with potential downside risks for the coin.

Peanut the Squirrel (PNUT)

PNUT has emerged as one of the best-performing crypto assets this month, rallying by an impressive 1,416% in just one week. The meme coin reached an all-time high (ATH) of $2.50, capturing significant investor attention. This rapid price surge highlights the volatile yet high-reward potential of meme coins.

At the time of writing, PNUT is trading at $1.24, holding above critical support at $1.06. This support level is essential to maintain the coin’s upward trajectory. As long as it stays above this threshold, PNUT is likely to avoid a significant decline, preserving its bullish momentum for the near future.

PNUT Price Analysis. Source:  TradingView

The continued strength of PNUT’s bullish trend in November suggests the price could rise further. However, if the support at $1.06 is lost, the outlook could turn bearish. In that case, the price might decline to $0.44, invalidating the current bullish scenario and shifting the market sentiment.

Act 1: The AI Prophecy (ACT)

ACT is positioned at the intersection of two booming sectors in the cryptocurrency market — Artificial Intelligence (AI) and meme coins. This unique combination gives ACT a distinct advantage, as it appeals to investors looking to capitalize on both technological innovation and the viral nature of meme-driven assets.

ACT’s performance has already demonstrated the potential of its dual-sector strategy. In early November, the altcoin surged by 3,044% within a week. Over the past 24 hours, ACT experienced a 66% increase in price, showcasing its volatility and the high reward potential that often accompanies meme coins tied to trending technologies like AI.

ACT Price Analysis. Source:  TradingView

As ACT approaches its all-time high (ATH) of $0.95, the coin faces an important threshold. If it successfully breaches this resistance, ACT could surpass $1.00, driving further gains. However, if profit-taking begins to dominate, the price could drop below the critical support of $0.44, potentially invalidating the current bullish outlook.

Pepe (PEPE)

PEPE saw an unexpected surge in November, climbing nearly 84% within just 48 hours. This rapid increase helped the meme coin reach an all-time high (ATH) of $0.00002597, surprising investors and sparking renewed interest in the coin. Its performance highlights the volatile nature of meme coins in the crypto market.

Currently trading at $0.00002091, PEPE has found support above the level of $0.00001677. This support is crucial to maintaining its bullish momentum. If the price drops below this level, it could signal significant losses for investors, leading to a shift in market sentiment and potentially further declines.

PEPE Price Analysis. Source:  TradingView

If PEPE remains a trending token, it could capitalize on the ongoing hype surrounding meme coins. This continued interest might drive the price back toward its ATH. As long as the coin holds above key support levels, there is potential for PEPE to revisit previous highs, benefiting from its meme-driven popularity.