At launch, 13% of SAMO supply was airdropped to members of the community. According to their website, SAMO roadmap includes burning events, airdrop tools, a decentralized exchange (DEX), and the creation of NFTs. Samoyedcoin recently gained popularity due to a sudden increase in price. In October 2021, the price went from $0.005 to over $0.22 in roughly 30 days.
Another 15% is allocated to staking rewards, and the remaining 10% to liquidity. They are mainly community-driven and can gain popularity overnight due to online community endorsements and FOMO. Still, their price can also slump unexpectedly when traders turn their attention to the next meme coin.
- Early investors can stake their DOGE20 right away, which gives an additional incentive to HODL onto the tokens when the presale ends.
- The more popular a meme coin is, the more exchanges will offer the coin.
- As the meme coin market continues to grow, you should be aware that there might be projects taking advantage of the hype to scam traders.
- Meme coin prices can plummet quickly if a meme coin project fails, flops, or isn’t popular.
If just one of the chosen meme coins explodes, this can still yield returns. For example, suppose an investor has $500 to invest in meme coins. In this section, we discuss why meme crypto coins are increasingly becoming popular with speculative investors.
It is your responsibility to ascertain whether you are permitted to use the services of Binance based on the legal requirements in your country of residence. Either way, many meme coins are usually created without any real use case. In turn, investors usually buy meme coins for fun and for speculative reasons. While many meme coins are favored by short-term traders, $DOGE is considered a long-term project.
Trending Coins
Slothana, the newest meme coin running on Solana’s network, raised over $650k within one day of going live on presale. Dogecoin20 bears inspiration from the original meme coin DOGE but offers greater utility. Although the coin is currently only available on presale, it has already gained a community of thousands of followers on X and Telegram. Before we dive into a detailed review of each project, here’s a quick introduction to our top meme coins.
Following prominent figures in the cryptocurrency community on social media platforms can lead to discovering new meme coins. Influencers often share insights or dcg is seeking to invest in grayscale bitcoin trust promotional content about upcoming or under-the-radar meme coins. Meme coin prices can plummet quickly if a meme coin project fails, flops, or isn’t popular.
Furthermore, even trustworthy projects often fail within days from launch, which leads to large losses for investors. Meme coin prices can be low at the presale stage, but these purchases carry more risk. Major exchanges are safer, but there is still much risk, and research and due diligence is necessary. A coins website will detail the presales or ICO, including how to buy a meme coin and any terms or tokenomics to understand when owning the coin. That’s why we have a specific process of reviewing and vetting the best meme coins. The first challenge is figuring out if you can trust the teams behind these coins.
How to Identify a Meme Coin?
It’s worth noting that Dogechain is not officially affiliated with Dogecoin, but is a separate project. It strives to complement rather than replace Dogecoin, which is only used for payments. Dogechain is a layer-two blockchain network running on Polygon’s technology. This means that Dogechain what is agile testing methodology process and life cycle is EVM-compatible and allows developers to build dApps and NFT platforms with $DOGE as part of their economic system. But being a part of the RichQUACK community isn’t limited to holding and waiting — members can also participate in a lottery to test their luck and win some tokens.
Shiba Inu – One of the Most Successful Meme Coin Stories to Date
They’re best suited for those willing to take on high risk for the potential of high rewards. If a meme coin hasn’t qualified to be listed on a centralized exchange or isn’t yet approved, it’s essential to understand why in case this indicates a problem. Extra research may be required when purchasing such a meme coin crypto. While many meme coins have no utility and lose their value right after launch, some, like Dogecoin and Shiba Inu remain on the arena for years. New meme coins appear almost every day, so finding those worth purchasing is challenging.
For example, consider that when Shiba Inu was launched to the public in 2020, its primary objective was to become a ‘Dogecoin Killer‘. Nonetheless, investors bought SHIB tokens in their droves, giving Shiba Inu a market cap of over $1 billion in under 12 months. Crucially, this highlights that the meme coin market is both unpredictable and irrational. Because $DC is a community-driven initiative, 58% of its total 1-trillion token supply is allocated for airdrops, staking rewards, and community grants.
Scotty the AI – New Crypto Uses AI to Protect the Crypto Space
For example, Squid Game (SQUID), a meme coin inspired by the popular Netflix show of the same name, surged over 86,000% in a week. However, the development team rug-pulled suddenly and caused the price to plummet by 99%. What’s worse is that holders were not allowed to sell their SQUID tokens. Therefore, you should always be careful and DYOR before trading or investing in meme coins. In the vast expanse of the cryptocurrency universe, meme coins stand out for their unique blend of humor and investment potential. Unlike traditional cryptocurrencies, meme coins typically don’t aim to solve complex problems.
It’s important to research the project and understand the coin’s market dynamics before investing. $FLOKI is one of the latest Shiba Inu-themed meme coins to emerge. $FLOKI is now listed on several major exchanges including Binance, OKX, Deepcoin, CoinW, and Bitrue, which adds to the trustworthiness of the project. $SMOG held a fair launch on Solana Raydium DEX, which means it had no presale like many other top meme coins. It has its blockchain, a well-written whitepaper, an established ecosystem, and a deflationary nature. We are seeing more institutional adoption of bitcoin in recent years as well.
As of November 2021, DOGE has gained over 8,000% since the beginning of the year and is ranking #9 by market capitalization on CoinMarketCap. Its competitor, SHIB, has pumped more than 60,000,000% since January. In 2021, the meme coin market saw exponential growth, especially the dog-themed meme coins. As of November 2021, one of the most popular “breeds” is Dogecoin (DOGE) and its rival Shiba Inu (SHIB).
Remember, while meme coins can be a fun addition to your portfolio, they should be approached with caution due to their inherent volatility and speculative nature. Always conduct thorough research and consider diversifying your investments to manage risk effectively. The prices of meme coins are largely influenced by social media trends, celebrity endorsements, and community engagement rather than fundamental factors.
$PEEN has no real utility apart from being the worst crypto on the market, but that’s common with meme coins. However, developers plan to list the token on Binance and OKX in 2024, along with launching a play-to-earn blockchain game. Sponge V2 is a successor to the $SPONGE meme coin, which soared to a remarkable buy bitcoin in the united kingdom $100 million market cap. The new iteration introduced the Stake-to-Bridge mechanism that links Sponge V1 holders with the V2 ecosystem. The most popular exchange to buy and trade Memecoin is Binance, where the most active trading pair MEME/USDT has a trading volume of $28,770,989.96 in the last 24 hours.
Meme coin buyers must conduct thorough research, understand their risk tolerance, and understand that meme coins are a gamble, only investing what they can afford to lose. Successful meme coins often only succeed by accumulating a real fan base of supporters, collectors, and traders. A key characteristic of most meme coins is they have a low token price. While this doesn’t increase the market potential of the meme coin, it does appeal to investors who want to purchase a large number of tokens. Put simply, meme coins are cryptocurrencies that follow a popular meme or trend. For example, the original meme coin, Dogecoin, is based on the Shiba Inu dog breed.
