After a successful private pre-seed funding round, Algotech has exploded onto the cryptocurrency markets, making many investors believe that it might shine meme coins such as Shiba Inu (SHIB) and Pepe (PEPE).

Best Meme Coins of 2024 Under Scrutiny

With the crypto bull run back in full swing, meme coins have experienced a resurgence like no other. Some of the older coins such as Dogecoin (DOGE) have risen by as much as 250% in the last year, while we have also seen new coins come to the forefront such as Bonk (BONK) and, quite literally, Memecoin (MEME).

Despite the surge in price, it is widely believed by analysts that memecoins are just a fad. The literal reason why they experience a rise in the first place. While this is a great way of gambling money and potentially experiencing high returns (or losing everything), meme coin investing in 2024 should be considered closer to a crypto casino than a long-term asset.

Most experts consider meme coins will eventually die out as better cryptocurrencies that provide long-term value will take their place. This includes Vitalik Buterin, the founder of Ethereum and one of the most respected individuals in the cryptocurrency space. And while there are many advocates of meme coins including Elon Musk, it is widely believed that they are pushed as a joke rather than based on a coherent investment thesis.

5 Reasons to Avoid Meme Coins

Here is why there is no point for investors in pursuing meme coins:

• Since there is no inherent value in the underlying blockchain, it is possible that meme coins will all eventually go to zero even when other cryptocurrencies rise in value.
• Top cryptocurrencies are far safer in nature and will lead to more consistent returns.
• Those considering memecoins as a store of value will be much better off if they just stick with Bitcoin (BTC).
• Newer cryptocurrencies that are backed with much better backend technology have a great chance of outperforming the best meme coins in 2024 and beyond.
• With the crypto gold rush in full swing, there are numerous ICOs that present much more attractive investment opportunities.

So, if meme coins are considered by industry experts to be a bad idea, what do they recommend instead? Well, many believe that the true exponential investments in the crypto space are to be found in ICOs.

Why Algotech Could be the Top ICO of 2024

From all the ICOs currently taking place, analysts believe Algotech (ALGT) to be the top ICO of 2024. There are many reasons for this, ranging from Algotech’s proprietary technology that is set to revolutionize algorithmic trading on both the blockchain and in traditional finance (TradFi).

Secondly, Algotech (ALGT) has garnered a lot of support from both institutional and private sectors. The initial private seed round managed to raise $1.1 million in capital. Currently, the stage 2 seed funding stage is moving from strength to strength, having raised over $2 million in less than two weeks.

Considering the fact that roughly 80% of the tokens are still remaining in stage 2 at the time of writing, analysts believe that Algotech (ALGT) could be a great opportunity for investors that want meme coin-like returns but also want to invest in a credible crypto project with a viable roadmap for the future.

Currently, Algotech is not listed on any exchange. Considering that tokens that have proper backing tend to explode in price once listed, Algotech could turn out to be one of the best cryptocurrency investments of the year. What’s more, investors looking to move out of meme coins can use Shiba Inu to purchase Algotech tokens.

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