Top Meme Coins
Cryptocurrencies have existed for more than 10 years, during which time hundreds of innovations have been launched that have turned the established financial system upside down. We witness the emergence of DeFi (decentralized finance), the launch and integration of non-fungible tokens (NFTs), the creation of projects with multiple levels of blockchain software, the development of affiliated trading apps based on Ethereum technologies, and much more.
But what at first seemed like a joke caused a real boom in the cryptocurrency industry.
Meme-based digital currencies have gained a huge number of investors and simply sympathetic traders, and the success of Dogecoin has led to the creation of a number of imitations.
Meme coins, even included in top lists, are often created for fun, but despite this, a certain percentage of meme tokens have every chance of breaking out into promising stocks. Although their value is rarely high, the high liquidity of the market makes them an interesting tool for a crypto investor.
Some crypto investors and brokers believe that long-term investments in meme coins are impossible, and choose other, more stable and popular methods of earning. Should new meme coins be taken seriously? They are definitely worth it.
What Are Meme Coins?
What are meme coins? In fact, the name speaks for itself. Memecoins are cryptocurrencies that are inspired by a specific meme or internet joke.
For example, consider Dogecoin – this token uses the image of a Japanese Shiba Inu dog, and popularized on the Internet thanks to the meme of the same name.
The meme frenzy began in 2013 when a group of enthusiastic developers launched the DOGE digital token as a fork of Litecoin. At that time, the cryptocurrency was experiencing a real boom in popularity, a large number of miners, traders and crypto-investors actively communicated in social networks, posting jokes and memes that only the local community could understand. Because of this, soon the volume of issued Doge tokens amounted to 98 billion pieces.
Due to the wide distribution of peculiar jokes, meme coins gained fame precisely through social networks. They are also used as the main advertising platform for meme cryptocurrency – it is enough for several influencers and media personalities to publish a post about buying a new coin, as investors immediately decide to capitalize on the increased interest.
For example, the DOGE token was actively promoted in the social networks by Elon Musk, who has a great influence on the cryptocurrency market. After the publication of the tweet, the value of the cryptocurrency increased by 15% by the evening of the same day.
Meme coins were not created to be taken seriously. Unlike major cryptocurrencies such as Ethereum, Terra, Avalanche and Solana, they do not have a specific purpose for use, and the developers do not present them as a breakthrough in the cryptocurrency ecosystem.
Usually, new meme coins start their rapid growth with the following:
developers take as a basis a meme that is popular in social networks and especially in the community of crypto-investors, an advertising campaign is launched via messengers and large sites, after which it is proposed to hold an ICO;
as soon as information about the Initial Offering of Coins appears, some investors buy it for fun;
on the wave of popularity, the value of the token from a meme coins list continues to grow, the first news appears on the main cryptocurrency aggregators, the interest of ordinary investors increases;
some media personalities, by publishing reviews, predictions and messages about the purchase of a meme token, advertise it, which only further fuels interest and increases the liquidity of the market;
naturally, after the wave of hype subsides, the cost per unit of the coin also normalizes, which rarely exceeds $1 – so, the inability of the Doge token to reach this bar gave rise to several more DOGE forks.
Creating a meme coin is not as difficult as it seems at first glance. Thanks to common tools and the simplicity of blockchain frameworks, launching your own coin will take place in 3 stages:
The brand is the name and logo of the new meme token. Internet jokes are common on any platform where people communicate, so a meme can be chosen based on which community the developer considers himself to belong to. You can go the trivial route and choose something cute or just fun as the title.
For a logo, it is enough to select an image from Google, having previously checked it for copyright, or pay a professional designer to create a unique logo.
After choosing a brand, the next stage of development is the creation of your own website. The site should be informative and attractive. Despite the fact that meme tokens are some kind of joke from the world of cryptocurrency, investors still need to know what kind of coin it is, what the developer’s goal is, what guarantees that this is not another scam.
If you have problems creating a design, you can use paid and free services. In any case, it makes no sense to independently develop even a project that is inherently simple. Almost all promising meme tokens were created by a group of enthusiasts, each of them fulfilled the task set for themselves – this ensured the success and high quality of the final product.
The development of the token includes writing a smart contract that will be responsible for all the indicators of the coin – the transaction fee, the number of issued tokens, the allowable amount of liquidity, the ability to exchange and sell coins, and so on. This also includes integration with other compatible blockchains and platforms developed on their basis.
Gone are the days when the creation of new cryptocurrencies was the prerogative of large and experienced teams, the expansion of the blockchain ecosystem has allowed enthusiasts and individuals simply interested in cryptocurrencies to create their own tokens. For example, the Binance Smart Chain platform allows you to develop your own smart contract by issuing new meme coins in just a couple of clicks.
Next, you need to decide on the platform on which the primary liquidity pool will be created. To determine the rate of the future token, it is necessary to replenish the pool with other tokens in the amount corresponding to the selected rate, then proceed to place the new token on sale.
After that, the token is available for sale. You can use it both for transfers between friends and acquaintances, and for making money on sales. The choice of place and method of advertising is up to the developer.
Meme Coins List
2021 has been a good year for meme coins. In just a few months, the total capitalization of the meme altcoin market has grown by 500%, the local joke has turned into a legitimate way to make money. Many coins followed the example of Dogecoin, some of them succeeded, others went to zero, losing all value, including investment.
The prospect of newcomers lies in the fact that the general market sentiment, in general, favors further growth in the value of the coin, and the longer the crypto is in the information field, the faster the growth occurs.
The old guard in the face of Dogecoin and SHIB will always be at the top. Both top meme coins have huge scaling potential.
What Is the Future of Memecoins?
It is difficult to say whether new meme coins will succeed in the future or not.The complexity of forecasting is due to the fact that the value of memecoins is growing from the general hype and popularity, and not from the usefulness and functionality of the altcoin. Thus, as soon as the initial hype subsides, which is not supported by public statements of influencers, the value of the token falls along with it.
But the best meme coins definitely have a future – simply because they attract new people to the world of cryptocurrencies, investors are ready to continue earning on the hectic market jumps. In any case, the very concept of the meme-currency looks much more interesting, simpler and more fun than the sophisticated functionality of Bitcoin and Ethereum.
Even leading crypto investors believe that promising top meme coins are not a financial phenomenon, but a social one. As for the meme coins themselves, it's best to follow the good old golden rule of investment – don't invest more than you can afford to lose.