Introduction
As someone who has been following the cryptocurrency market for a while now, I have noticed a recent buzz around the topic of memecoins. What are memecoins and why are they getting so much attention? So in this article, I will writing about the world of memecoins, their rise in popularity, and what sets them apart from other cryptocurrencies.
What are Memecoins?
First of all, before we dive into the world of memecoins, it’s important to understand what they actually are. Indeed memecoins are a type of cryptocurrency that are based on internet memes. They are essentially a way for people to invest in the popularity of a particular meme.
Second, one example of a memecoin is Dogecoin. Idea of creation come from popular Shiba Inu meme. Another example is PepeCoin. In this case idea come from Pepe the Frog meme. So these coins are created by developers who are looking to capitalize on the popularity of a particular meme.
Third, in the beginning they were just created as joke and … To the surprise of many, these tokens found their admirers. That’s how a small group grew larger, until whole crowds of fans called armies are formed. In the case of the Doge, it is the Dog’s army, and in the case of the Shiba Inu, it is the Shiba army.
Fourth, the use of memecoins has evolved over several years. Now coins are used in payments in the ecosystems they create. It should also be added that these are extended metaverse worlds, decentralized finance or virtual universities.
Finally, it’s really exciting to see where the use of memecoins is going.
Memecoins are specific tokens and have their own rules. Indeed, there are no foundations, which does not mean that this will not change in the future.
The Rise of Memecoins
Memecoins have been around for a few years now, but they have recently gained a lot of attention in the crypto world. This is due in part to the rise of social media platforms like Reddit and Twitter. They have become hotbeds for memecoin discussions and investing.
One reason for their popularity is their low price. Many memecoins are worth just a few cents. It makes them accessible to a wide range of investors. Additionally, the fact that they are based on memes makes them more appealing to younger investors who are more likely to be interested in internet culture and memes.
Of course, before a given memecoin becomes popular, influencers and all social media channels are ablaze with news.
Understanding Coinmarketcap
In order to understand the world of memecoins, it’s important to understand how cryptocurrency prices are determined. Without a doubt useful tool for this is Coinmarketcap, a website that tracks the prices of thousands of cryptocurrencies.
More to say, Coinmarketcap is a useful resource for investors. Investors who are looking to track the performance of their investments. It allows users to see real-time price changes for different cryptocurrencies, as well as historical price data.
Coinmarketcap for Meme Tokens
The meme market cap today is $16.1 billion (24.06.2023). In case of bull run there will be even better. More capital on the market always mean more risk.
Due to the growing number of projects, so far there is not much historical data on memecoin market capitalization. You can monitor the situation of individual memecoins on an ongoing basis.
The market capitalization of memcoins continues to decline, indeed.
Moreover, the values of this group of assets are looking for their bottom on the market. True, this may not happen in the near future, because capital is migrating to Bitcoin and cryptocurrencies with large market capitalizations.
But…
Clearly, the bottom has to be found somewhere. So it would be best to present 3 memecoin charts with the largest market capitalizations.
What I mean here is Dogecoin, Shiba Inu and PEPE. Alright. It’s true that I didn’t plan it, but I will present these charts soon.
As you can easily see in the one-year charts, only the Shiba Inu is looking for the bottom.
Doge Coin and PEPE are already on an upward trend. These are weak trends (for foolish cryptocurrency market rallies), so they are not easy to spot.
I will move on to what makes memecoin different from the rest of the cryptocurrency market.
What Makes Memecoins Different?
So what sets memecoins apart from other cryptocurrencies? For one, they are often created as a joke or a meme, rather than with a specific purpose in mind. Moreover, this means that they are often not taken as seriously as other cryptocurrencies.
Additionally, memecoins are often more volatile than other cryptocurrencies. This is partly due to the fact that they are often tied to the popularity of a particular meme, which can be unpredictable.
Memecoins and the Future of Crypto Investing
While memecoins may seem like a passing trend, they could have a lasting impact on the world of crypto investing. As more and more investors become interested in memes and internet culture. Memecoins could become a more mainstream investment option.
Additionally, as the world becomes more digital and internet-based, memecoins could become a more valuable asset. They could be used as a way to invest in the future of internet culture and memes.
As like it was metion before, they are used in the more smart way and their inventors take more serious projects which in the beggining use to be jokes.
It seems that the initiative to stimulate interest in the cryptocurrency meme can be a joke. An internet meme or some other form.
Risks Involved in Investing in Memecoins
As with any investment, there are risks involved in investing in memecoins. One major risk is the volatility of the market. Memecoins can be unpredictable and their prices can fluctuate wildly.
Additionally, because memecoins are often created as a joke or a meme, there is a risk that they could lose popularity and become worthless. Investors should be aware of these risks before investing in memecoins.
Crypto Prices and Memecoins
As mentioned earlier, Coinmarketcap is a useful tool for tracking the prices of different cryptocurrencies, including memecoins. It’s important for investors to keep an eye on the prices of the memecoins they are interested in, in order to make informed investment decisions.
It’s also important to remember that the price of a memecoin can be influenced by a wide range of factors, including the popularity of the meme it is based on, social media trends, and even market speculation.
How to Invest in Memecoins?
If you’re interested in investing in memecoins, there are a few things you should keep in mind. First, do your research. Make sure you understand the risks involved and the potential rewards.
Next, find a reputable exchange that allows you to buy and sell memecoins. Some popular options include Binance, Coinbase, and Kraken.
Finally, be prepared to monitor your investments closely. Memecoins can be volatile and their prices can change rapidly. It’s important to stay up-to-date on market trends and news in order to make informed investment decisions.
The Most Popular Memecoins
Dogecoin (DOGE)
Dogecoin gained significant popularity due to its Shiba Inu dog logo and its association with viral internet memes. Created in 2013, it initially started as a joke cryptocurrency but gained a large following over time.
Shiba Inu (SHIB)
Launched in 2020, Shiba Inu is an Ethereum-based meme token inspired by Dogecoin. It gained popularity through its association with the “Doge” meme and its decentralized exchange, ShibaSwap.
PepeCoin (PEPE)
PepeCoin is another meme-based cryptocurrency inspired by the internet meme character Pepe the Frog. It aimed to promote internet freedom and privacy while incorporating meme culture.
SafeMoon (SAFEMOON)
SafeMoon gained attention for its unique tokenomics, including a reflection mechanism that rewards holders with additional tokens. It gained popularity on social media platforms, especially TikTok, but its long-term sustainability and legitimacy have been subjects of debate.
FLOKI (FLOKI)
So the utility token of the community-powered FLOKI ecosystem: The Valhalla NFT Metaverse Game, The FlokiFi DeFi ecosystem, The Floki University Crypto Education platform, The FlokiPlaces NFT & Merchandise Marketplace.
At the moment, the most popular memecoins are Dogecoin and Shiba Inu, without a doubt.
Memecoins with Potential to Skyrocket
Meta Doge (METADOGE)
METADOGE token was launched on October 29th 2021 on Ethereum blockchain, with an entire Total Supply provided to the Uniswap liquidity pool, granting every party a fair opportunity in participation of a fair launch.
Shin Tzu (SHIH)
Shih-Tzu Token, a Cross-Chain based meme token with real utilities like an NFT marketplace for creators, gamers, and blockchain enthusiasts. The Shih Tzu token ($SHIH) initially launched as an ERC-20 token on 19th April, 2021. It is the central token that will be core to the operations of ShihWorld.
Cramer Coin (CRAMER)
Reddit style platform for Cramer memes and general trading memes as well as information / posts. Users can create a profile through connecting their wallet. It has long been accepted that Cramer is the only counter-signal boasting a 100% accuracy rating—a feat the uninitiated may consider to be mere chance, it is written on website.
Chihuahua Chain (HUAHUA)
Chihuahua is a sustainable, eco-friendly Proof-Of-Stake (POS) blockchain that uses the Inter-Blockchain Communication Protocol (IBC) to communicate with other chains.
Interoperable with over 30 Cosmos chains due to the IBC protocol which allows transferring HUAHUA assets to the other chains in a matter of seconds.
Samoyedcoin (SAMO)
Solana blockchain provided the perfect conditions for the birth of Samoyedcoin (SAMO), which was also born in respect to Solana‘s co-founder Anatoly Yakovenko. Seeing the potential of online communities, the advantages of Solana, and the influence dog coins have in onboarding new market participants.
In fact, the Samoyedcoin token stands out among lesser-known meme coins.
Conclusion
In conclusion, memecoins are a unique and increasingly popular type of cryptocurrency that are based on internet memes. While they may seem like a passing trend, they could have a lasting impact on the world of crypto investing.
Investors should be aware of the risks involved in investing in memecoins, including their volatility and the potential for them to lose popularity. However, for those who are willing to take the risk, memecoins could be a valuable investment option.
If you’re interested in investing in memecoins, be sure to do your research and monitor your investments closely. And as always, never invest more than you can afford to lose.
You can be sure in time memecoins start to be more useful than they used to be. That positive conclusion finishing this article.
