Dogecoin, Shiba Inu, Pepe, Or GME Coin: Benzinga's Followers Weigh In On Their Meme Coin Fave

Optimism is back in the cryptocurrency market for many, boosted by the approval of Bitcoin ETFs and a recent surge in meme coin activity.

Benzinga polled its social media audience to identify the most popular meme coins in the current market.

What Happened: Investors in the cryptocurrency market are constantly looking for both emerging and established meme coins with the potential for significant value increases.

The increased interest in Solana (CRYPTO: SOL) has led to the creation of several meme coins, including GME Coin (CRYPTO: GME).

Pepe Coin (CRYPTO: PEPE) was launched in mid-2023 and one of the most talked about meme coins of last year.

Dogecoin (CRYPTO: DOGE) has been around for years and saw 2021 go down as one of the most insane years for a cryptocurrency, with DOGE mentions by the world's richest people, public companies using Dogecoin for marketing and companies and sports teams accepting the cryptocurrency as a payment option.

Shiba Inu (CRYPTO: SHIB) is a newer meme coin and often considered a rival to Dogecoin.

Benzinga recently asked social media followers on X, formerly known as Twitter, which meme coin people were most bullish on right now.

Here were the results:

Dogecoin: 2.8%
Shiba Inu: 40.0%
Pepe Coin: 2.8%
GME Coin: 54.4%

The newest meme coin listed, GME Coin, won the poll with a majority of the votes. Coming in second place was Shiba Inu with a strong 40% showing. Dogecoin and Pepe coin each got 2.8% of the vote, suggesting they aren't as popular with retail traders on social media as they once were.

It should also be noted that Benzinga received many replies to its poll suggesting that $PORK is the top meme coin right now.

Why It's Important: GME Coin is the newest meme coin in the poll and launched in late January 2024. The coin, which is modeled after video game retailer GameStop Corporation (NYSE:GME), is not affiliated with the company.

Increased interest in GameStop, the retailer, thanks to the release of "Dumb Money" on Netflix could have helped boost interest in GME Coin. The narrative of retail traders challenging hedge funds and short sellers has united crypto traders in support of GME Coin, reminiscent of past market showdowns.

Benzinga previously polled its Twitter audience to determine which cryptocurrency—Bitcoin, Dogecoin, Ethereum, or Solana—was expected to yield the highest returns in 2023.

The results of the January 2023 poll were:

Dogecoin: 26.7%
Bitcoin: 38.5%
Ethereum: 28.7%
Solana: 6.2%

All four cryptocurrencies were up in 2023, but it was Solana which came in last in the poll that led the way with returns of over 900%. Bitcoin ranked second with returns of +155%. Ethereum and Dogecoin gained around 90% and 30% respectively in 2023.

Only time will tell whether the outcomes of the meme coin poll accurately forecast a promising future for GME Coin.

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