5 Top Meme Coins
Key points
- Dogecoin
- Shiba Inu
- Safemoon
- Dogelon Mars (ELON)
- Kishu Inu
The value of the Meme coins is determined on the basis of evaluation of people in the most imaginable way. Though these Meme coins are developed to do nothing and have a dark side to them, they are good for making quick profit. As of November 2021, top 5 meme coins by market capitalization are:
Dogecoin
It was the earliest meme coin that came around 2013 and was released on its own blockchain. Since then there has been a complete struggle for the meme coin until this year. In 2021, Dogecoin skyrocketed, and made a climb of more than 20,000% in a single year.
The reason for this growth is mainly due to the promotions done by Elon Musk. He has even used the DOGE token to support a SpaceX project. DOGE has a market capitalization of over $30 billion, it is top meme currency and ranked at 9th position overall.
Shiba Inu
Shiba Inu is second on this list and is the self-proclaimed DOGE killer. As per the official description, “SHIB is an experiment in decentralized spontaneous community development”. With a total supply of 1 quadrillion, it has a market of $27 billion, and holds 9th rank on the all-assets list.
Safemoon
This meme coin was developed in March 2021, with a motto, “Safely to the Moon”, derived by an expression “to the moon” meaning “to grow swiftly in value”. Safemoon witnessed a sudden rise in its value when celebrities like YouTuber Logan Paul, sports blogger Dave Portnoy, and rapper Lil’ Yachty endorsed the meme coin. With a current market cap of $3.56 billion, it is in the same vein as Shiba Inu is, but failed to deliver on its promises. Token promises were made which led to investors making investments in the coin and now its value is plummeting.
Dogelon Mars (ELON)
This is a meme coin that is themed on Elon Musk and Dogecoin. This meme coin in the current year has witnessed a lot of price swings and many experts believe that there is still scope for it to expand. It is an Ethereum-based project that uses ERC-20 token standards, for security Ethereum network will be used and apart from this ELON token will have its own distinctive features added to it. The current market cap of the coin is $992 Million.
Kishu Inu
Kishu Inu, debuted in the market in August 2020, and was initially developed after the popularity of Dogecoin. Kishu Inu wants to be the meme coin that has real world applications instead of relying on public relevance like other meme coins. Any investor who continuously purchases more coins of Kishu Inu is rewarded by Kishu Inu. The current market cap of Kishu Inu is at $400M.
With the current trends it would not be a surprise that in the coming time more such altcoins emerge and gain popularity.
Disclaimer: The article is just to provide information and shouldn’t be considered as any financial advice. It is advisable to conduct thorough research before investing in any cryptocurrency.
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