Meme Coins : Most modern conceptions are built on shared beliefs. Everyone believes that fiat cash is precious. This shared belief underpins the whole financial sector. Similarly, if everyone agrees that something has value, we can assign value to it. This may appear to be counter-intuitive, but it is correct. The people have power. And if they determine meme coins are valuable, they will become such.
Let me offer you an example: a decade ago, memes coins were not a commercial product or phenomenon. Nobody had any idea what the phrase meant. No corporation was recruiting meme coins producers or assigning its social media staff the purpose of creating memes coins and riding the viral wave to sell their products.
Today, memes coins are the most popular marketing tactic. And this “space” or “content” is generating sales, marketing, branding, and brand recognition, all of which are worth millions of dollars if done properly.
Have I made my point? The problem is that we, the people, decide what is and is not worthwhile. So, let’s take a look at some meme coins that have the ability to “reach the moon” and make you rich.
Dogecoin
DOGE has the best chance of going to the moon with the blessings of Elon Musk, the self-proclaimed Dogefather. The crypto community is already quite supportive of ‘DOGE,’ which is how it reached $1 in 2021.
If Elon Musk accepts this meme coins as a payment method for any of his businesses or products, it will be big! And he’s made multiple references to accepting DOGE as payment. If everything goes well in the long run, which it most likely will, you as an investor could see massive profits, similar to early Bitcoin investors. But keep in mind that this is a high-risk, high-reward game.
Following its previous all-time high in 2018, Dogecoin’s market worth did not exceed $1 billion until January 2021. Dogecoin was one of the fastest-growing meme coins in 2021. Dogecoin had a market capitalization of approximately $6.9 billion at the end of March 2021. On May 10th, 2021, the market capitalization surpassed $70 billion.
This represented a more than 1,200% rise in less than two months. Investors who added DOGE tokens to their portfolio in January and cashed out during the cryptocurrency’s all-time high in May saw a gain of more than 13,600%. Prices fell across the board in July 2021 as China clamped down on mining and cryptocurrency trade. Dogecoin has recovered, but not to its previous peak.
In April 2022, Elon Musk, dubbed “the Dogefather,” launched a bid to buy Twitter. As a result, Dogecoin’s value soared from $16.9 billion to $20 billion in just 48 hours. The stock market collapsed, and cryptocurrency followed suit, losing billions of dollars in value. In the nine days following confirmation, Dogecoin gained about 140%.
Shiba Inu
SHIB, which was created as a parody rather as a digital asset with utility or value, is as popular as DOGE. It was formed in August 2020 with the goal of gaining control of Dogecoin and was dubbed “Doge Killer.” DOGE, the original meme coins, isn’t going away anytime soon. Despite this, Shiba Inu is one of the top ten meme coins in terms of market capitalization.
Shiba Inu can be a great investment, but only if the meme coins grows in popularity. SHIB is the epitome of a high-risk, high-reward investment. It should be noted that Shiba Inu does not yet bring anything unique to the DeFi ecosystem. Its ecosystem will provide outsized rewards if it becomes a utility or anything of value in the future.
Doge Baby
This is another doggie meme coins with a long-term promise. Members of the Doge Meme online community created a new meme coins known as Baby Doge.
Baby Doge, who made his appearance in 2021, has picked up a few tips and tactics from his meme father, Doge. Baby Doge wants to impress his father with his speedier transaction speeds and cuteness. There’s no denying that the crypto world adores the beautiful Baby Doge, but it has yet to gain enough traction to provide significant returns on investment.
It’s early days for him, but he has a lot of potential in the coming years. However, you are once again cautioned that it is a high-risk asset with the potential to dominate the market in the long run.
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