In recent years, interest in #memecoins has increased. Moreover, in terms of popularity, two of these meme cryptocurrencies: Dogecoin and Shiba Inu, are among the ten most well-known cryptocurrencies in terms of market capitalization.
What started as a digital market test has become the currency of the future. During the last week, #memecoins have grown by 1,600%, according to data from Coinbase. Crazy numbers that exemplify the speed at which these assets are revalued.
What is a #memecoin?
A #memecoin is a #cryptocurrency based on the concept of a meme and that arises as an alternative for easy money investment. Therefore, a #memecoin has no intrinsic value and is rarely useful. As its name suggests, these coins are based on Internet memes, jokes, or images shared through social media.
All these meme coins have earned a place among users, allowing for greater speed in transactions, anonymity, and security. Memes have gone from being just a trend on social media to becoming a new and attractive business.
The 5 #memecoins with the most future
Currently, there are five #memecoins that are among the best #cryptocurrencies in the market. Do you want to know which ones they are?
1. Dogecoin (DOGE)
It was created by Billy Markus and Jackson Palmer, as a fork of Litecoin (LTC). However, with the support of Elon Musk (CEO of Tesla and SpaceX), it has increased its influence and price.
2. Shiba Inu (SHIB)
Shiba Inu (SHIB) is the second of the main meme coins in the market. This #cryptocurrency arouses great interest among #cryptocurrency users.
It can be said that it is the rival currency of Dogecoin and has a market capitalization of over 18 million dollars.
3. Dogelon Mars (ELON)
Dogelon Mars comes from the fusion between Dogecoin and Elon Musk. It is another of the meme cryptocurrencies, which has positioned itself as the third and is already considered an excellent means of investment for generating good profits.
4. Samoyedcoin (SAMO)
Samoyedcoin is among the most well-known meme coins because it allows for high scalability and fast transactions, as well as low fees. Today it has a market capitalization of around 124 million dollars.
5. MonaCoin (MONA)
It operates as a p2p source network. This cryptocurrency has been used in an advertisement to make property purchases in Nagano and has a market capitalization of approximately 77 million dollars.
Therefore, it is one of the investment tokens with which you can increase your profits.
How do #memecoins work?
What started as a joke has now become a reality. These meme coins are used as a payment mechanism and operate in the same way as #cryptocurrencies.
For example: you can buy and sell Dogecoin on digital currency exchanges, as well as store it in a wallet. The difference compared to other #cryptocurrencies is that they have a finite supply, while #memecoins have an almost unlimited supply.
On the other hand, being backed by celebrities like Elon Musk or Charles Xue Biqun (Chinese entrepreneur and investor), they are generating more interest.
Characteristics of #memecoins
In the world of #cryptocurrencies, volatility is always a major concern, and #memecoins are much more unpredictable than traditional cryptocurrencies. Meme tokens can be launched quickly in response to events.
Currently, Dogecoin has a market capitalization of 18 million dollars, while Shiba Inu has reached 14 million.
Why are they considered the currencies of the future?
As long as users do not only invest for their value, #memecoins are as valid a cryptocurrency as any other, since they can be used as real currencies to buy and sell goods and services. 🙂
Is it dangerous to invest in #memecoins?
Although it is possible to make profits with meme coins, investing in them is extremely dangerous. From my point of view, this is more of a betting game than a real investment.
Ultimately, investing in meme coins can go well for you but also very badly, although it is more likely that you will lose part of your money, because right now these #cryptocurrencies are highly speculative. 💣💣💣