In the cryptocurrency space, meme coins—cryptocurrencies that are styled after popular internet memes or images—are a recent development with a high market cap. Many well-known personalities have endorsed these tokens, leading to high demand.
While investors have differing opinions as to how long the trend of using memes as coin symbols will last, we will see that there are other aspects of this trend that are worth noting.
Thousands of options exist, however, selecting the best meme coins to buy can be a challenge for newcomers to this space.
Nonetheless, some meme coins have greatly increased in value over the past year. These coins are likely to continue to rise in value due to their uniqueness and relevance in today’s society. This article highlights the top meme coins to invest in.
DOGE is the original meme coin and one of the best cheap cryptocurrencies. Launched in 2013 as a joke on the sudden growth of alternative currencies (altcoins) following Bitcoin’s popularity, Dogecoin has since evolved into a tipping crypto asset with a large community of holders.
Dogecoin is a cryptocurrency branded around the Doge, a Shiba Inu from Japan. It is an open-source peer-to-peer digital currency that uses the proof-of-work consensus mechanism. The coin does not have any other utility than to transfer money.
Dogecoin and Tether DOGE/USDT are very different, but also very similar. They both want to provide a safeguard for users in the cryptocurrency market against volatility, as well as make it easier for people to transact with virtual currency.
Tamadoge is a meme coin that launched its initial exchange offering (IEO) on OKX in 2022. Since then, it has seen steady growth and is one of the best meme coins on the market.
Tamadoge is different from other meme coins because it has utility; its ecosystem consists of play-to-earn games and non-fungible tokens (NFTs).
Shiba Inu (SHIB)
Shiba Inu, created in 2020 and styled as a Dogecoin killer, is one of the best meme coins to buy for the long term. It is also considered one of the most undervalued cryptos. The Japanese dog breed Shiba Inu is used as the project’s mascot, and the community has a significant influence over the project.
The Shiba Inu coin is an ERC20 token built on top of the Ethereum network, which allows it to operate alongside smart contracts. The Shiba Inu coin also works with a diverse ecosystem of decentralized finance services and is available for trading on a number of exchanges, including KuCoin.
SHIB/USDT is one of the most interesting coins out there, and is already doing amazingly well in the crypto community. Its monthly airdrops have brought it to the attention of many who have never even heard of cryptocurrency before, and in just a few months it has gone from being completely unknown to being a top-10 altcoin.
Dogelon Mars (ELON)
Dogelon Mars is another meme token following the doge theme. The team behind the project has featured Dogelon Mars as a character in comics that can be purchased as NFTs. However, Dogelon Mars is viewed to be influenced by Elon Musk’s plan to colonize Mars.
Its native token is called ELON. Dogelon Mars aims to build a community around its Dogecoin-inspired cryptocurrency, which it plans to use as a way of promoting the Dogelon Mars brand.
MonaCoin (MONA) is a Japanese-inspired, decentralized digital currency created in 2013. The coin was designed as a meme and has a large community of supporters in Japan. It operates using a P2P network.
The MonaCoin network is a fork of the Litecoin blockchain. It uses a cryptocurrency algorithm called Lyra2RE (v2) to process transactions, and its transaction processing speed is 1.5 minutes.
Samoyed Coin (Samo)
Samoyed Coin is a meme coin from the stables of the Solana blockchain. It was created by combining Sam Bankman-Fried, a popular Solana backer and owner of FTX crypto exchange, and Anatoly Yakovenko, creator of Solana.
It aims to onboard more users into the crypto space, educate people about cryptocurrencies, create personal connections between meme lovers, and help token holders maximize their return on investment.
Akita Inu (AKITA)
Akita Inu is a decentralized community initiative built on the Ethereum network. The development team consists of crypto enthusiasts who have developed most of the project with minimal outside input.
The coin is also a social experiment. The goal is to become the most meme-worthy coin in the world and connect individuals through memes. According to Akita Inu, half of its token supply has been given to Ethereum co-founder Vitalik Buterin. The other half was put into a UniSwap account for liquidity.
But, what exactly are Meme Coins?
A meme coin is a digital token that becomes popular due to its association with online trends. The popularity of meme coins has been influenced by internet ideas.
In contrast to traditional cryptocurrencies, meme coins do not serve any specific purpose. Their value is often driven by social media and online discussion boards, as well as the endorsements of celebrities.
Are meme coins a legitimate investment?
Meme coins are one of the more unusual phenomena to arise in the cryptocurrency market. They are riskier than more stable cryptocurrencies, but if you’re willing to take the gamble, there can be big rewards.
While investing in meme tokens is a risky business, many of the projects above boast real-world credentials comparable to top cryptocurrencies. They have also quickly built loyal followings online, which is certainly a good sign for meme coins.
Portfolio diversification is always a smart strategy. Meme coins are one way to diversify, but investors should research each asset before investing. Checking the market capitalization and community size can help you determine whether a meme coin has real potential.