For the first time, the concept of meme coins was formed with the launch of Dogecoin in 2013. Meme coins were mainly created to make fun of other cryptocurrencies. Although these tokens were launched as a joke, they gained significant popularity over time after being supported by prominent people. Some of the most popular cryptocurrencies right now are Dogecoin and Shiba Inu.
The creation of Bitcoin in 2008 paved the way for the emergence of other digital currencies. Cryptocurrencies are divided into different categories from different points of view; Altcoin, stablecoin, and meme coin are among the most important.
Meme coins are inspired by internet memes, current events, online communities, and influencers. The role of influencers in the world of cryptocurrency has always been prominent. Still, this role has recently become more critical, so that popular and famous people like Elon Musk multiply the price of a digital currency in the blink of an eye with just one tweet! This is the property of meme coins!
The meme coin market enjoyed unprecedented attention and growth in 2021, with the most dramatic increase for dog-themed meme coins. Dogecoin and its rival Shiba Inu are the most popular meme coins in the cryptocurrency market to date.
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Basically, meme coins are designed as a joke in the digital currency market and are very unstable compared to well-known digital currencies like Bitcoin (BTC) and Ethereum (ETH). The community-oriented nature of meme coins has caused the price of these cryptocurrencies to be unstable and fluctuate. Usually, the price of meme coins is affected by social networks, expectations, and feelings of online communities. Excessive advertising leads to FOMO and all kinds of financial risks for investors. Although some traders and investors have become rich with meme coins, many have lost their capital due to market fluctuations. In this article which is written by AsiaSignal Experts, we explain the concept of meme coins and examine the most popular and prominent of these cryptocurrencies and the price of meme coins. You can use Binance Spot Trading Signals on Asiasignal websites for profitable trading.
Some cryptocurrency market participants believe that 2021 has been the best year for dog-themed meme coins. Dogecoin (DOGE) and Shiba Inu (SHIB) are two cryptocurrencies that have taken over the meme coin market. From the beginning of January 2021 (December 2019), these meme coins experienced significant price and market value growth. From the beginning of this year to November 2021, Dogecoin has experienced an increase of over 8,000%. Based on the data of the CoinMarketCap website, the DOGE cryptocurrency is ranked 11th in terms of market value. In the meantime, Shiba Inu, a fierce competitor of Dogecoin, has pumped more than 60,000,000% since the beginning of the year. At the time of writing this article, SHIB digital currency is ranked 8th in the digital currency market in terms of market value. You can be our VIP member by joining our Crypto VIP Signal channel and getting informed about Crypto Signal Leaks news as soon as possible.
What is a meme coin?
The name Bitcoin may be familiar to many people, but what about Dogecoin and Shiba Inu? Meme Coins are gaining more and more popularity in the world of digital currencies, but if a person is going to invest in meme coins, he should get enough information about them.
Meme coins are cryptocurrencies that are inspired by jokes and pranks on the internet and social networks. Dogecoin, the first meme coin of the digital currency demand, was catapulted in 2013 under the derision of being cryptocurrencies and inspired by the Japanese canine Shiba Inu.
Since meme coins are mostly community-driven, these cryptocurrencies can become famous overnight with the help of online forums and FOMO. But when traders turn their attention to the market's new meme coin, the price of those meme coins can drop unexpectedly. For this reason, the price of meme coins is mostly unstable.
Meme coins frequently have a veritably high or unlimited budget. For example, Shiba Inu has a total of 1 quadrillion (one with 15 zeros) tokens, while Dogecoin has no maximum supply and currently has over 100 billion tokens in circulation. Since meme coins usually do not have a token-burning mechanism, their impressive supply is a factor in the relatively low price of these cryptocurrencies. With just $1, you will be able to buy millions of units of a meme coin.
So, should meme coins be taken seriously? Below are some things you should know before investing in meme coins.
While Bitcoin has been a topic of conversation among investors and the general public for years, meme coins have only entered the mainstream in the last year or two.
As soon as a meme coin gains popularity and its value increases, small investors will start buying it and making it grow even more.
The discussion of meme coins became hot in early 2021 When famous people like Elon Musk, Mark Cuban, and Snoop Dogg supported Dogecoin and made it grow 800% in just 24 hours. Since then, every time Elon Musk tweets about Dogecoin, the meme coin has seen its price increase.
Check future signals to get information to find out about news of Dogecoin and other meme coins.
Why are meme coins popular?
Although it is difficult to give a specific reason for the popularity of meme coins in 2021, many professional investors say that during the spread of the Coronavirus, small investors turned to the digital currency market to avoid inflation and marked the growth of this market. Therefore, meme coins also flourished amid the significant growth of the cryptocurrency market and experienced a jump in market value as well as number diversity.
The story started in late 2020; the stock prices of GameStop and AMC Entertainment were pumped by the Reddit community with the symbols GME and AMC, respectively. Within just a few months, the price of these stocks increased by 100. In January 2021 (December 2019), a group on Reddit started joking about Dogecoin rising in price like GameStop stock. This trend was accompanied by the tweets of Elon Musk, the CEO of Tesla, and marked the increase in the price of the DOGE cryptocurrency. Dogecoin surged more than 2,000% in five days to reach an all-time high (ATH) of $0.73.
Although Elon Musk publicly joked about the DOGE cryptocurrency on TV in May 2021, many people attribute the DOGE cryptocurrency price crash to this issue. Many traders turned to other meme coins in the market, such as Shiba Inu or the "Dogecoin Killer" after the Dogecoin crash. In the midst of this, retail investors, hoping to become millionaires overnight, got FOMO and started looking to invest in new meme coins with the aim of beginning an upward rally for another meme coin.
Another reason small investors are attracted to meme coins is the low price of these cryptocurrencies. Meme coins usually cost only a few cents or sometimes even less than one cent. In fact, the low price of meme coins is due to the massive supply of these digital currencies. In fact, the feeling of holding millions of units of particular meme coins is very different from having a small fraction of ETH or BTC. Cryptocurrency market traders can get thousands or even millions of Dogecoin tokens, Shiba Inu, or Akita Inu (AKITA) by spending only a few dollars.
Apart from the main benefits of meme coins, the price and excitement around these cryptocurrencies are caused by the emotions of their respective community. As mentioned, meme coins are derived from popular internet jokes intended for entertainment and sometimes as an "inside joke" for a cryptocurrency community. Buying meme coins is a way of showing support to the community of that cryptocurrency. Therefore, the digital currency market in 2021 was flooded with community-oriented meme coins.
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Possible risks of investing in meme coins
Although meme coins saw exponential growth in 2021, buying, selling, and investing in meme coins, like any other digital currency, carries a high financial risk. First, the Tokenomics of meme coins is a concern for investors. In this section, we will give you an example of Bitcoin. BTC digital currency has its own blockchain, a perfect white paper, an established ecosystem, and anti-inflationary nature. In recent years, institutions and organizations have seen the widespread adoption of Bitcoin.
Most meme coins are inflationary compared to Bitcoin and have no supply cap. The ecosystem, usability, and basic principles of most meme coins are defined by the collective banter of that meme coins community. Only a few meme coins are built on top of mainstream digital currency technology. For example, DOGE cryptocurrency technology is derived from Litecoin (LTC), and in the same way, SHIB digital currency is built on the Ethereum blockchain.
The community-oriented nature of meme coins is another potential risk that investors should consider. It is also worth noting that meme coins are riskier and more speculative than cryptocurrencies with a larger market cap. The fluctuations and instabilities of meme coins constantly lead to unexpected pumps and dump in these cryptocurrencies.
Generally, meme coins have a short life cycle. The price of these cryptocurrencies can increase thousands of times after being introduced by famous people or FOMO in the market, or they can drop unexpectedly following the conversion of its meme coins community to a new cryptocurrency.
The incomparableness of the meme coin market has caused some cryptocurrency projects to defraud and abuse traders to profit from the situation. For example, the price of Squid Game Token (SQUID), a meme coin project inspired by the popular Netflix series of the same name, increased by more than 86,000% in just one week, but its development team suddenly took action. He did a Rug Pull to his users, and this event resulted in a 99% price drop for this meme coin.
Popular meme coins of the cryptocurrency market
Dogecoin (DOGE) and Shiba Inu (SHIB) are the leading meme coins with the highest market cap in the digital currency market. After the remarkable success of DOGE and SHIB cryptocurrencies, a large number of dog-themed meme coins entered the cryptocurrency market and gained public attention in the second half of 2021. In this section, we will review and introduce the popular meme coins of the digital currency market.
DOGE coin
Dogecoin was produced in 2013 by Billy Markus and Jackson Palmer, software masterminds. This cryptocurrency was inspired by a joke about a Shiba Inu dog, and it was supposed to be a digital joke currency just to draw the public's attention to the leading cryptocurrencies and this field. As a fork of Litecoin, DOGE cryptocurrency adopted the same proof-of-work (POW) mechanism and also has no supply cap.
Shiba Inu (SHIB)
Shiba Inu is considered a serious competitor of DOGE digital currency and is often known as the "DogeCoin Killer.” This currency's name is derived from a Japanese dog's breed. This digital currency was created in August 2020 by an unknown developer named Ryoshi. The main difference between Dogecoin and Shiba In is their supply. The supply of SHIB digital currency is limited to 1 quadrillion units, 50% of which is donated to charity and lost. The SHIB cryptocurrency ecosystem also includes a decentralized exchange (DEX), a non-fungible token (NFT) collection, and an NFT game.
Meme Kevin Dodge Elon Mars (ELON)
In terms of popularity, Dodge Elon Mars (ELON) is very similar to the two leading meme coins of the cryptocurrency market, namely Dodge Coin and Shiba Inu. As can be seen from the name of this meme coin, the word ELON is derived from the name of the CEO of Tesla, Elon Musk; the third part of the name of this meme coin (Mars - Mars) also indicates the interest and purpose of Elon Musk for his company, SpaceX. Dodge Elon Mars is a fork of DodgeCoin and has 557 trillion tokens in circulation. Since its launch in April 2021 (April 1400) to November 2021, the price of ELON cryptocurrency has increased by more than 3,780%.
SAFE MOON
This futuristic meme coin was created in the year 2021 by John Carney under the name DeFi Token in Binance Smart China. You may consider why this coin meme has been carved so approximately in recent cycles. One of the reasons for this is the excellent support of this currency team for this good meme coin. The total supply of this meme coin was about one thousand trillion units, half of which is now in circulation. This meme coin now has about two million users. About the trading cycle of this meme coin, it should be adduced that a ten percent figure is charged for the trade of each unit.
Mona Quinn
This futuristic cat meme coin was created in 2013 by a person named Mr. Watanabe. This was the Meme coin, the first Japanese digital currency. The total supply of this meme coin was 150 million units, of which 65 million are currently in circulation.
Also, this meme coin has the Financial Services Agency of Japan (FCA) approval. This meme coin also has relative price stability, legal approval, and real-world application, which are unique features among meme coins.
Akita Inu (AKITA)
Many meme coins in the cryptocurrency market are inspired by the names of Japanese dogs as ominus names, such as Akita Inu, KISHU, and FLOKI. The DOGE coin edifies Akita Inu. This cryptocurrency was launched in February 2021 as an ERC-20 token on the Uniswap exchange. Akita Inu token economy is very similar to SHIB cryptocurrency.
Akita Inu's team, like developer Shiba Inu, locked up about 50% of their total supply on the Uniswap exchange and sent the remaining 50% to Vitalik Buterin, the founder of Ethereum. At the same time, the total budget of AKITA cryptocurrency is just 100 trillion units(in other aphorisms, it's one-tenth of the all-out budget of Shiba Inu). In May 2021, Akita Inu joined the rising rally of meme coins and gained public attention. This amenity was so consequential that some partitions of the digital currency community appertained to this cryptocurrency as" another Dogecoin assassin.”
Samoid Coin (SAMO)
Samoid Coin is a dog-themed meme coin launched on the Solana blockchain. 13% of the SAMO cryptocurrency supply was given to its community members at the time of the project's launch. According to Samoid Coin's official website, the SAMO cryptocurrency roadmap includes events such as a token burn, airdrop, the launch of a decentralized exchange (DEX), and the creation of an NFT collection. SAMO digital currency has recently gained popularity due to its sudden price increase. The SAMO cryptocurrency grew by more than 4,300% within a month. The price of this digital currency went from $0.005 to more than $0.22 in just 30 days in October 2021.
Meme Coin Kishu Inu (KISHU)
KISHU is another dog-themed meme coin that has seen significant growth since its launch in April 2021. KISHU cryptocurrency includes prices for active druggies of this meme coin, non-fungible commemoratives (NFT), and a DEX-conjectured Kishu exchange. The popularity of Kisho Inu is increasing every day, so much so that this cryptocurrency managed to find more than 100,000 holders and a market cap of 2 billion dollars in just one month after its launch.
Hoge Finance (HOGE)
According to its name, this digital currency is considered the brother of Dogecoin, which started working in the year 2021 to improve Ethereum's DeFi infrastructure features. For this reason, it could gain a good position in a meme in less than a year. Find coins.
The all-out budget of this meme coin is about one trillion units, of which about four hundred and six billion are presently in rotation. However, the total budget will drop over time due to its anti-inflation mechanism. This coin meme has grown very fast. Of course, it is at the beginning and can produce much more in the future.
Baby Dog Coin (BabyDoge)
This futuristic meme coin is produced on the platform of Binance Smart China and has anti-inflation properties. Baby Dogecoin cryptocurrency charges a five percent charge for its sales. This good meme coin has lower fees, more scalability, and faster transaction than Dogecoin. Although the total supply of this meme coin is not known precisely, it is claimed that it is about four hundred and twenty quadrillion, and fifty trillion of this good meme coin is now in circulation.
Mini Hollywood Dodge (MOLLYDOGE)
This meme coin is also built on the platform of Binance Smart China, and its approximate total supply is one trillion units with a price of $0.0000007178 (no information is available since the creation of this meme coin). Also, this meme coin has grown well compared to the early days of its fame.
DOGEDASH
The videotape game assiduity has been around since the 1970s. But it wasn't until an epidemic hit that people noticed. With more than half of Americans turning to games to escape reality during this period, gaming is now big business compared to when we first saw their popularity more than 40 years ago. Done, you can understand why this segment is so profitable.
The appeal of some video games hasn't changed in the last forty years. For example, Super Mario Bros. is a classic game that is still popular today because the game has very attractive graphics. If kids are adventurous, they can play this game without any problem. Or adults who just want to have a quiet break away from their busy lives for once can choose this game. Doge Dash also aims to monetize this nostalgic game.
In fact, what if you took the best parts of Mario and Sonic and combined them with crypto-related gameplay elements to create a new classic atmosphere? This is what Doge Dash, the upcoming meme coin, is all about.
Doge Dash is inspired by some truly unique games from our childhood. You can run ten levels and collect coins. Then the number of coins you collect goes to your wallet. So, you get a great gift for playing this game.
kitty Inu (KITTY)
Kitty Inu is one of the promising meme coins that has joined the crowd of Ethereum-based blockchains. Edified by Shiba Inu and Floki, Kitty offers to position the playing field. There are several canines- inspired coin memes in the crypto retail. However, our feline friends are currently not very popular in crypto space, except for kitty inu.
Kitty is a cryptocurrency and one of the promising meme coins that strengthen Play-to-Earn (P2E) ecosystems. This currency is not only a favorite of gamers but also an excellent digital currency for developers and creators of non-fungible tokens (NFT) who want to make their gameplay more enjoyable than ever. Kitty Inu’s assignment is to create a stylish community-driven platform for gamers.
You need bitcoin or Ethereum to buy kitty inu’s future meme coin. Before we go any further, we must consider the risk of investing in this type of coin. As with several other currencies, there is no guarantee that KITTY-USD will increase in value this year. Instead, buying this coin is analogous to purchasing a lottery ticket. Therefore, it is better to invest accordingly. And try your luck.
Ariva (ARV)
The promising ARV token and meme coins are an incentive to accelerate sustainable growth for local and international tourism networks. This project is a business-to-consumer (B2C) network that connects members with both current and prospective travelers through reviews, recommendations, bookings, etc., all while earning cryptocurrency from your bookings. They do.
For travel agencies, this is double the income. The trip assiduity is a unique business and moment; with easy access, anyone can log in from worldwide to plan, book breakouts, etc. With Ariva, the effects get indeed more intriguing. Its blockchain structure allows druggies to earn plutocrats during the trip agency service life cycle. For further information, stay for the composition. We will write about this in the future.
Loser Coin (LOWB)
The upcoming Loser Coin meme was created by two Chinese guys, one of whom was married with a child and lived in poverty in a village while working sixty hours a week at his workplace like everyone else. And the other was coding, which had its own problems. The founders of this project were ready to lose everything by launching Loser Coin.
Unlike some of the other up-and-coming meme coins on the market that hope to stay afloat by promoting developers, Loser Coin is an unusual blockchain project that wants to unite all the losers in the world. Ha said that they should appreciate their losses because the taste of victory becomes sweeter when we are at our lowest point. So, if you decide to disturb the equations of the world, invest in this meme coin and join this alliance.
GamingDoge (GAMINGDOGE)
GamingDoge is one of the meme coins inspired by DOGE's success in the digital currency market and aims to go beyond a currency. This coin brings together Dodge lovers and gamers. The founders of this coin want to develop an integrated ecosystem for gamers, which includes exchange, an NFT market, and NFT games. The goal of this meme coin is to eventually become the largest community in the world of digital currencies. In the end, this project only covers the Dodge community and gamers.
Future meme coins Investing in which meme coin has a better future?
2021 was the year of the meme coin market. Traders paid particular attention to these funny coins and experienced unprecedented growth this year. The developers of meme coins designed them as a joke in the digital currency market, and perhaps they did not think such a change was waiting for them. Meme coins are volatile compared to early digital currencies like Bitcoin and Ethereum.
The future meme coin price highly depends on the community they invest in. This affects the price increase of meme coins. The community-oriented nature of meme coins has caused their price to be unstable and fluctuate. But what are the promising meme coins, and what affects their market price? In this article, we are going to introduce you to the best future meme coins for investment.
Meme coins are a kind of cryptocurrency that gave birth to their internet jokes. A group of users puts meme coins in the category of altcoins. But in any case, they are not included in the group of main digital currencies. Celebrities and famous people like Elon Musk have been very influential in making them popular and valuable, and even a hint from them has caused their prices to go up and down.
In addition to celebrities, meme coins communities and developers can also help spread the word about the coin and encourage others to invest. This affects the increase of meme coin price.
Even the developers of Meme coins use advertising stunts to raise the price of Meme Coin. For example, the developers of the Shibu Inu coin gave half of all SHIB coins to Vitalik Buterin, one of the founders of the Ethereum network, for promotional purposes. However, it backfired when he sold the Shiba meme for millions of dollars.
2022 is another opportunity for meme coins that are unpredictable. Meme coins are coins that also publish unanticipated achievements. For this reason, introducing future meme coins is not an easy task. But still, the meme coins market is hot, and investors are still hungry for big profits.
As we said, it is challenging to introduce promising meme coins and to determine whether the procedure of a meme coin price will be upward or downward in 2022. Meme coins usually have no market value and have a sizeable circulating supply. This makes them relatively cheap and easy to obtain. Since meme coins are often cheap and easy to come by, there are many factors to consider in their future.
In order to be able to determine the meme coins price better, we need to pay more attention to the community that affects the price of that meme coin. In addition, we must see what the uses of that coin are. For example, popular influencers and a strong community are good clues to a coin's future.
After all, if particular meme coins can be used for a video game, as a currency used in a popular online store, or as an NFT token, then meme coins are in good shape for investors because the value is high.
How can we identify the profitable meme coins of the future?
2021 was the peak of the meme coin market. This year, dozens of new meme coins entered the cryptocurrency market daily. These cryptocurrencies quickly gained their place among investors and traders. After that, the volume of transactions and buying and selling increased and formed significant pumps.
Investing in meme coins has its ups and downs, even for the most experienced investors. However, it is possible to minimize risks by searching and applying correct and accurate information. There are thousands of meme coins to choose from, but most are scams.
The truth is that there are diamonds among the stones. You just need to know where to find them and how to look. Some of these meme coins have the potential of 1000% profit for investors who see them early.
If you want to identify new meme coins which could be profitable in the near future, you can refer to reliable sites, including the dedicated Coin Market Cap site. This site is the best source and reference for information, cryptocurrency market data, and current price lists of digital currencies.
When you enter this website, you can see the list of the latest cryptocurrencies added to the market at the top of the page. In addition, this site has a section dedicated to meme coins and chat coins, in which the list of these assets, networks and other related information will be provided to you. By joining the Asia Signal VIP channel, you can also use the leaked signals for a better choice.
Is it recommended to buy meme coins like Dogecoin?
Some people believe that buying this category of digital currencies is pure madness; A meme coin has no intrinsic value and generally does not even have a specific use. According to them, buying Dogecoin or other such cryptocurrencies is not an investment, but a kind of bet, although this work can result in a thousand percent profit and even more.
Think of Dogecoin as the first cryptocurrency inspired by an old picture of a Shiba Inu dog. Is there any reason for its recent skyrocketing price other than Elon Musk's backing? The second richest person in the world responded to a tweet that asked his opinion about Dodge Coin and said that Dodge has dogs and memes, while others don't! This! That is, even Mr. Musk admits the lack of intrinsic value of the first market coin meme.
The main difference between Dogecoin and other meme coins with Bitcoin and Ethereum is their application. Projects like Ethereum and Bitcoin have been developed to solve real-world problems. For example, Bitcoin provides a unique, decentralized digital monetary system where people are in control of their assets. Ethereum is an excellent platform for building and running smart contracts and decentralized applications. But is it possible to find a purpose for Dogecoin? Don't forget that the creator of DogeCoin developed it as a joke, and there was no intention from the beginning! This applies to all meme coins.
However, one cannot ignore the fact that the price of meme coins has grown dramatically in a short period just because of the support of a few people. If you decide to buy one of them, take a high risk.
Shiba Ino, the digital currency that was launched a few months ago with the nickname "Dogecoin killer,” is a good example. This cryptocurrency experienced strong price growth after its launch, but within two days, its price was reduced by one-tenth. The people who bought Shiba Ino at the peak of its price lost a tenth of their money. Due to the fact that meme coins are unbacked, this is possible to happen to all of them. It is enough for the supporters to achieve the profit they want, and then they will empty the feet of the rest.
What is the current meme coin price?
Currently, each Meme coin price is $ 0.029473. Because meme coins are highly dependent on community sentiment and external influences such as celebrities’ tweets, the meme coins prices are also highly volatile. This means that while the meme coin price can increase significantly, it is just as likely to crash and lose all of its value quickly.
To be aware of last month's fluctuation of meme coins price, you can see the following image.
The future of meme coins
One cannot ignore the fact that if someone had invested as much as one dollar in Shiba Inu in March 2021, they could have made $8,000 seven months later. However, it should be considered that just as cryptocurrencies can make their investors rich overnight, they can also lose all their value in the blink of an eye.
Considering the nature of meme coins, it is unlikely that many of them will survive for the next few years, and many of them will probably be worth zero. Meme coins cannot be expected to gain widespread adoption like Bitcoin and Ethereum.
Conclusion
While it is possible to earn significant profits by investing in meme coins, they cannot be trusted enough. These cryptocurrencies are more volatile than their counterparts and can lose their value completely overnight.
As with any financial investment, it is necessary for people to do enough research before buying meme coins. If a meme coin has no history or is hard to find enough information about, you should be careful.
The absence of a white paper or a white paper full of typos and vague claims, as well as the absence of a sustainable ecosystem, can be a warning sign.
However, due to the cheapness of meme coins, people can devote a small amount of their capital to it. But it should be kept in mind that only one amount should be invested not only for buying meme coins, but also for any other cryptocurrency so that if it is lost, there will be no disruption in one's life.
As Asia Signal experts are professionals in investing, you can get help from them. You can be our VIP member by joining our Crypto VIP Signal channel and getting informed about Crypto Signal Leaks news as soon as possible; for more information, check the crypto signal.
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