The crypto exchange market has recently seen the birth of new companies to study before entering the sector. With an ever more comprehensive market offer, it is up to the individual investor to understand the industry’s best operator. Keeping in mind that different traders are better suited to different types of investors, today we will impartially talk about BitYard, a Singapore-born trader. Founded in 2019, BitYard is a cryptocurrency exchange that offers a range of services to its customers, as…
Meme coins will continue to gain more attraction in the crypto landscape. Although it hasn’t been long since meme coins came into the spotlight, many investors still think it is an exciting and profitable investment. On the flip side, investors often struggle to choose the best meme coin. Before you dive into the breakdown of the top 5 meme projects, take a look at the fundamentals of meme coin.
So, What Makes Up a Meme Coin?
A meme coin refers to a cryptocurrency that has no inherent value and rarely provides any utility. You can view meme coins through the lens of internet memes like humorous images. Unlike hallmark cryptocurrencies like Bitcoin and Ethereum, meme coins don’t address centralization issues or work as a direct source of remittance.
You have to think of meme coins in a broader sense but with the touch of humour and unique idea. The mechanics of meme coins are also simple. Meme coins serve as tokens that users can buy. Most meme coins are hyped up from constant promotions and news stories for a brief time.
For example, Dogecoin serves as a decentralized cryptocurrency with massive community support. But the “doge” name comes from a famous internet meme. At the time, DOGE became a famous crypto buzzword but lost its market attraction after the Bitcoin Crash. But a single tweet from Elon Musk managed to revive DOGE. Since then, more meme coin projects continue to take the centre of attention in the crypto space.
In this blog post, you can read about the top 5 meme coin projects that have the most market attraction right now and deserve your attention in 2022:
1. Shiba Inu
Once upon a time a dog, Shiba Inu managed to inspire a multitude of investors to jump into the rabbit hole of the SHIB project. SHIB, the native coin of Shiba Inu is an ERC-20 token in the crypto ecosystem. Ryoshi, the pseudonymous founder, created Shiba Inu in mid-2020 in the form of a meme coin. In no time, the meme coin managed to garner high market attraction.
In fact, Shiba Inu got tweets from major influences like Elon Musk and Vitalik Buterin. The meme coin also had several news headlines and gained the interest of investors across the world. As of late 2021, there is a lot of scepticism around Shiba Inu.
But even if the $SHIB does not triple in price, it is still one of the most stable and marketed meme coins. Unlike others, Shiba Inu has had impressive ad campaigns that made the meme coin more mainstream in the crypto landscape.
Also, the opinion around $SHIB will become more positive in 2022. The fact of the matter is that it has been a long journey for Shiba Inu to build strong momentum and stabilize within the crypto market. But investors need to be patient to gain the maximum gains from Shiba Inu ($SHIB).
Many investors who missed out on Dogecoin embraced SHIB because of its low value. The native token of Shiba Inu, $SHIB, has a 1 million quadrillion supply with half of the token supply is locked already in Uniswap liquidity.
2. Dogelon Mars (ELON)
Dogelon Mars is the spinoff of Dogecoin cryptocurrency and continues to gain more attraction. Dogelon is a perfect mix of Elon Musk and Dogecoin cryptocurrency. In the words of Elon musk, he considers Dogelon Mars the first name of the capital city on Mars.
As a Dogecoin ford, Dogelon Mars shows great promise. The long-term objective of the Dogelon Mars is also quite ambitious. ELON wants to help people get to Mars and create a Dogelon community that can help regular people get flights to planet Mars in the foreseeable future.
Most recently, Dogelon Mars has had significant gains. In fact, back in May 2021, the value of ELON was increased by 120% and made consistent headlines in the crypto world. Dogelon Mars has 1 quadrillion of supply, which means there is plenty of room to buy and trade it.
3. Akita Inu (AKITA)
Akita Inu is another Dogecoin-inspired meme currency that uses the ERC-20 protocol on the Ethereum network. You may not be aware of it but Aita Inu continues to attract a lot of market buzz. After a few months of launch, the meme currency was listed on various exchanges.
Technically, the Akita Inu token revolves around the AKITA community. In fact, the AKITA network has a long list of associations that allows AKITA to garner more market attention. As a decentralized token, AKITA is a community-based token that has no founders.
The trading volume of AKITA is around $19.5 billion. AKITA community makes future decisions based on collective agreement. After three months of AKITA’s launch, more than 15,000 investors decided to buy the token. Once AKITA’s Telegram project was finalized, over 20,000 investors joined the project.
4. Samoyedcoin (SAMO)
Samoyedcoin (SAMO) is based on Solana and comes across as a fun and vibrant meme coin. But like the first two meme coins, Samoyedcoin (SAMO) also takes direct inspiration from Dogecoin. In fact, the concept, approach, and execution of Samoyedcoin (SAMO) are not so different from Dogecoin. The fundamental difference is that SAMO is built around the Solana ecosystem rather than Ethereum.
Although Samoyedcoin started out as a meme coin, not it has become the face of the Solana ecosystem. The main goal of SAMO is to bring more people to Solana and roll out impressive new solutions. It is no wonder many crypto enthusiasts consider SAMO to be one of the best meme coins in the blockchain space.
As of now, around 14% of SOMO tokens are in circulation through unique Airdrop distribution. SAMO also holds the record to be the first meme-based coin on the Solana ecosystem. You can purchase the Samoyed coin from various listed crypto exchanges. As of late 2021, 1 SAMO coin equals 0.03821 dollars, but the price of SAMO has had several gradual and sudden changes.
5. SafeMoon (SAFEMOON)
SafeMoon is based on the Binance Smart Chain ecosystem as a BEP-20 token. After the roll out in March 2021, SafeMoon has had steady growth. Today, many experts view SafeMoon as one of the safest digital currencies and through the same lens as Ethereum and Bitcoin.
Of course, there are subtle differences but SafeMoon works on the same scale as top-tier cryptocurrencies. With over 200% growth in the last few months, more than 2 million have purchased SafeMoon.
Now, to resolve price volatility issues in the market, SafeMoon wants to dissuade traders from day trading its token. The idea is to avoid the significant price dips and that occurs when someone decides to sell their SafeMoon tokens.
In terms of coin circulation, SafeMoon prefers manual burns rather than continuous burns. With manual burns, token holders get more control over their entire coin supply. It means less token supply increases the demand of the token and in turn the price of the coin.
Investing in meme coins has become a source of fun and excitement in the crypto realm. But like ordinary memes, meme-based coins can fall or grow depending on the online momentum. So, conduct some research before investing in a meme-based project in 2022. You can follow the lead of professional investors and get familiar with crypto meme culture in the online space.
In hindsight, focus on the effectiveness of each meme coin and review its market data to make the right investment decision. In simple terms, it’s a decision of whether or not the meme will stand the test of time and would make a solid investment. In terms of the price range, focus on the hype of the meme coins. The good news is that there is an impressive variety of meme projects on the horizon and investors are more optimistic than ever about the meme projects in 2022.