Meme coins are a class of crypto assets with unique characteristics in the cryptocurrency space. By default, they have no inherent utility other than being driven by the community until they lose momentum and investors turn to others.

With the cryptocurrency market showing strength over the past month, the market has generally been positive as Bitcoin surpassed the $40,000 regional resistance for the first time in 20 months in December 2023, and signs of a bullish market are more evident than ever.

Here are three you should consider investing in and adding to your portfolio this December:

Dogecoin (DOGE)

Dogecoin is based on the "Doge" meme, a misspelling of "Dog" that became popular on social media platforms, especially Reddit, in the 2010s. When cryptocurrencies began to become less popular, with the rise of currencies such as Bitcoin and Litecoin, Dogecoin was launched to ride the "Doge" meme wave.

Doge was the first memecoin to be created, and its high number of holders has allowed its investors to gain greatly from its popularity as it thrives on community participation. Dogecoin has rewarded investors with approximately 30 times the amount invested in the 2017 bull run and approximately 90 times the amount invested in the 2021 bull run.

The success of Dogecoin has spawned several other meme coins, including popular dog-themed coins like Shiba Inu and Floki Inu — yes, it’s that influential. So if a new bull run is around the corner, it might be a smart move to add Dogecoin to your portfolio.

Additionally, Dogecoin has the advantage of being heavily backed by one of the most influential people in the world, Elon Musk. The Twitter (now X) boss has hinted several times that he will provide a use case for Dogecoin by allowing it to support crypto payments on the platform.

Therefore, it is safe to say that as an exponential memecoin, coupled with its strong community support and tentative institutional adoption, Dogecoin can easily top the list of memecoins to consider buying before a new bull run.

DOGE is currently trading at around $0.09 per coin, having gained about 70% since October, when the cryptocurrency market gained momentum. However, it is still a long way from its all-time high of $0.75.

Given the prospects of a new bull run, Dogecoin could reach $1 within a few months, bringing investors more than 10 times their investment returns.

BONK

Bonk INU (BONK) is one of several dog-themed meme coins created on the success of Dogecoin. It was launched around December 2022, during the bear market and in anticipation of a new bull run in the new year, and quickly gained popularity.

Unfortunately, the overall momentum surrounding the cryptocurrency was not enough to provide it with enough impetus, making it largely unprofitable for late-stage investors. However, over the past two months, in line with the overall momentum of the cryptocurrency, BONK INU has delivered over 40x returns to investors, flipping the popular Ethereum ecosystem meme coin - $PEPE.

BONK has been the best performing memecoin over the past few weeks and months, and given that its market cap is still below $1 billion, there is still a lot of room for growth and investors can still expect over 20x returns.

SATS

SATS is a meme coin that complies with the new experimental BRC-20 token standard, which allows for the minting and transfer of fungible tokens through a serialized protocol on the Bitcoin blockchain. In short, SATS is a meme coin on the Bitcoin blockchain network, just like BONK is to Solana and SHIB is to Ethereum.

What’s interesting about SATS and other tokens on the BRC-20 network is that the Bitcoin network has never been one that supports the creation of fungible tokens, but with this interesting update, meme tokens on the blockchain could offer investors massive returns.

The first BRC-20 token deployed is called ORDI, short for Ordinal Number. It currently trades for over $60 per token and has generated more than 20x returns for investors in the past three months.

As a result, other meme tokens on the BRC-20 blockchain, such as SATS, could benefit from the massive shift in interest in token standards.

SATS is currently trading over 8,000% above its all-time low, but its market cap is still relatively low at $1.3 billion. With renewed interest in BRC-20 tokens, this could lead to huge returns for investors.

However, it is important to remember that BRC-20 is still in its experimental phase and you should be cautious about investing in tokens created according to this standard.