Have you ever heard of a crypto coin that combines humor with the potential for big returns? Meet meme coins, the latest trend in the world of cryptocurrency.
According to CoinMarketCap, there are over 300 meme coins listed on the cryptocurrency website. However, many of these are not actively traded and hold little to no value. Out of all the meme coins, only Dogecoin, Shiba Inu, Dogelon Mars, and Baby Dogecoin have daily trading volumes of over $1 million. These meme coins are considered high-risk and volatile investment options.
Most meme coins do not provide any value beyond being collectible or tradable. Some of them are not even coins, but tokens on another blockchain. For instance, Shiba Inu operates on the Ethereum blockchain as an ERC-20 token.
What You Didn’t Know About Meme Coins
Meme coins are digital tokens that are inspired by internet memes and often have comical themes. They’ve gained popularity due to their lighthearted nature and the fact that some have seen massive returns on investment.
One example of a successful meme coin is Dogecoin, which started as a joke in 2013 but has since become a legitimate form of cryptocurrency. In recent months, Dogecoin’s value has skyrocketed, thanks in part to support from celebrities like Elon Musk and Snoop Dogg.
While investing in meme coins can be risky, it can also be a fun and entertaining way to get involved in the world of cryptocurrency. Just make sure to do your research and understand the potential risks before investing. Some media outlets and industry experts view meme coins as fraudulent pump-and-dump schemes, making it crucial for investors to exercise caution when entering the market. Before investing in meme coins, it is recommended to carefully consider the potential risks and to do thorough research.
So, if you’re looking for a little humor and excitement in your crypto portfolio, consider investing in meme coins. Who knows, you might just be laughing all the way to the bank!
TOP 10 meme coins list
- Dogecoin – This is the first meme cryptocurrency, created in 2013 and based on a dog theme. Despite initial resistance, it experienced rapid growth in 2021 and rose over 20,000 percent in just a year. It was created as a parody of Bitcoin with moderate security as a form of money.
- Baby DogeCoin (BABYDOGE) – This was introduced in 2021 with a comprehensive plan that includes initiatives such as GameFi, animal charity, NFT creation, and others. BABYDOGE is on the Binance Smart Chain and represents a further move towards public involvement and memes. It features a burning process and a fair distribution of returns to holders when traded on-chain.
- YooShi – This is a token on the Binance Chain that comprises more than just one token. It features a fundraising platform for game developers, a lab for new releases, and a play-to-earn program where people can make money by playing online games. It is a meme coin that has potential to do well in the future.
- Mona Coin – This is one of the earliest recognized meme coins, first released in 2013 and inspired by Japanese cat-like art. It has a peer-to-peer (P2P) payment processing system.
- Akita Inu – This is a community initiative named after a dog breed in Japan. Unlike Shiba Inu tokens, AKITA tokens have different characteristics but linked liquidity and can be burned by sending them to Vitalik Buterin’s account. It is focused on community building with Dogecoin as its leader and has a total of 100 trillion tokens, ten times smaller than that of SHIB tokens.
- Shiba Inu – This is a cryptocurrency named after a Japanese puppy species and is also known as Kishu Inu. A portion of the coin and a 2% fee are distributed to each account. It is a social coin with a liquidity pool burn and 100 quadrillion coins with the KISHU mark.
- Folki Inu – This is a cryptocurrency to watch in 2023, despite being less popular than Shiba Inu and Dogecoin. It has shown consistent growth even in the volatile bear market of December 2021, with a market value of US$1.06 billion.
- Woofy – This is a meme token created by a finance group that is based on the value of DeFi. It is a Shiba Inu-like token with a limited-use application and a profit plan, differentiating it from other meme tokens.
- Tamadoge – This is a platform with a focus on NFTs and earn-through-play game modes, with Tama as the exchange medium. Many believe that Dogecoin inspired the imagery on the official TamaDoge interface. It uses a P2P infrastructure and is built on Ethereum.
- Dogeliens – This is the newest entry in the market of meme coins and is poised to lead the community. A decentralized autonomous organization (DAO) called Dogeliens (DOGET) plans to develop the Binance network with its DeFi solutions.
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