Meme Coins: Everything You Need To Know About
Today, you can find a plethora of meme coins in the cryptocurrency landscape. Some of the most common and popular meme coins are Dogecoin, Tamadoge, and Shiba Inu.
If you want to know more about meme coins for investment purposes, this article will help you. It will not only help you understand meme coins but also guide you regarding the best meme coin for your crypto investment.
What is A Meme Coins?
What you know as meme coins is a kind of crypto currency created from an online meme or viral image. You cannot use it for transactional purposes. However, it is used only for trading. For those who don’t know, meme coins are not a new currency but got real fame last year upon the promotion of Dogecoin by Elon Musk.
The prices of the meme coins are either determined by the influence of celebs or the community. Like transactional coins, the prices of meme coins fluctuate recurrently. For instance, the price of Doge meme coins was US$0.1815 in 2021, which rose by 14.57% in 2022.
The next critical question that floats on the canvas of your brain is:
How Does Crypto Meme Work?
Meme coin works by using blockchain, which is a decentralized block holding all contracts through peer-to-peer systems. Besides blockchain, it also uses other correlated techs.
Today, meme coins can be generated simply through apps or websites. However, you need to be aware of scammers who can exploit you. Therefore, you must be diligent before deciding which meme coin to buy and where to buy it.
For your consideration and convenience, the quick but comprehensive review of 5 top meme coins based on market capitalization is given below:
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Dogecoin
If you want to invest in a meme coin for the long run, Doge meme coin is undoubtedly the best option. It was created in 2013, and since then, it has grown gradually and turned into a tipping crypto coin for investors.
Today, Dogecoin is not at its high as it was in 2021 but still has considerable acceptance. For instance, Sling TV has declared to accept it for the payment of services.
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Tamadoge (TAMA)
It is one of the additions to the doge community and was created to be a deflationary asset. It is the best meme coin if you want discounts as it offers the best crypto presales, which lets you buy tokens at a reduced price using either ETH or USDT.
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Shiba Inu (SHIB)
This is an Ethereum-based cryptocurrency featuring Shiba Inu, which is a Japanese kind of stalking dog for its symbol. Shiba Inu was created by an unknown individual or individuals named Ryoshi in 2020. In 2021, its price became more than tenfold, and today it enjoys a market capitalization of about $41 billion.
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MonaCoin (MONA)
It was created by an anonymous individual in 2014. It is principally used in Japan by using Litecoin-based blockchain codes.
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Samoyed Coin (SAMO)
It was created only to be held by the community. SAMO represents a samoyed, a dog type from Eastern Europe, as its symbol. The rank of SAMO is 627th, with a market capitalization of US$ 20.5 million.
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