What is Meme Coin? Top List Meme Coins For Venture Capitalists
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What is Meme Coin?
At the present time, there is still no unified and specific definition of Meme Coin. However, in simple terms, Meme Coins are coins inspired by popular photos on the Internet and real-life events. These coins mainly emerged thanks to the promotion by big influencers. And during the past 2021, the cryptocurrency has attracted a lot of attention from the community.
Usually, a Meme Coin has no inherent value and does not come with utilities. As the name implies, they are often based on funny, entertaining images on social networks. It is jokes and images that are shared strongly on social media.
Why is meme coin so popular?
Coin memes are increasingly popular with the crypto community because they are often associated with world famous KOLs and special events. Furthermore, these coins often tend to follow trends, specifically what happens on social media.
From the moment Elon Musk started shilling Dogecoin (DOGE), the coin has flourished as the “Dragon Carp” along with two of the most popular including Shibu Inu and Safemoon.
Globally famous KOLs seem to have a big influence in the crypto industry, and that's only been the case in recent times. When Elon Musk used his name to promote his favorite meme coin, Dogecoin. This not only created a strong fomo wave, but also brought many opportunities for easy access to the meme coin for everyone.
Even the Tesla boss said that if there is a scandal about him, it should be named "Elongate". From there the Elongate token was launched within an hour. At that point, the question was whether this was a motive for his own gain. It may or may not be true, but to date, the developers claim to have donated more than $3 million in profits from the token's rise to charity.
In May 2021, Facebook CEO Mark Zuckerberg posted a photo of his pet goats. Soon after, the price of Aqua Goat increased by about 300% within hours of Mark's post appearing on social media.
While some consider investing in meme coins to be crazy, others consider it a worthy investment with the potential for 1000% returns through small amounts of money. Regardless of who is right, interest in the meme coin has in fact grown dramatically in recent months.
Meme tokens tend to be listed on more exchanges. As the top coin meme, Dogecoin appeared on many crypto exchanges including Coinbase, Binance, Huobi, Kraken, Bittrex, Poloniex, and more.
Besides DOGE, Shiba Inu is also traded at Binance, Crypto.com, FTX, KuCoin, OkEx, Gate.io and decentralized exchanges (DEX) like Uniswap. Additionally, Safemoon operates on the Binance Smart Chain network, which can be traded at Binance and on DEXs like PancakeSwap.
Top List Meme Coins For Venture Capitalists
Dogecoin (DOGE)
Doge is a cryptocurrency that was launched in December 2013. This cryptocurrency was launched in December 2013. The symbol of this coin is the lovely Shiba Inu dog. It was created as a satirical, hilarious alternative currency. Dogecoin's loyal community trades and uses it to recommend content on social networks.
Jackson Palmer created his joke coin when cryptocurrencies became popular. He calls it Dogecoin because who doesn't love dogs? Dogecoin's value has dropped along with other coins since last year's bubble, but it's still pretty much worth it. “The high tide lifts all the boats” summed up the situation perfectly as DOGE began to recover in 2019.
However, an additional factor was instrumental in the rise of Dogecoin: Tesla . Cryptocurrency enthusiast and CEO Elon Musk. He is working with Dogecoin developers to improve transaction speed and constant tweets about the token. That was enough to send DOGE-USD soaring. His support has not wavered. The Tesla director even announced that his company accepts Dogecoin for merchandise.
As a result, the Dogecoin price is increasing largely due to external factors. However, certain upgrades will also give confidence. The developers of the Dogecoin network have announced that the upcoming upgrade, version 1.14.5, will complete their much-anticipated fee reduction for all participants in the decentralized currency system. this.
Having an active developer team is key to the success of any cryptocurrency. That's why, if you're willing to gamble with meme money, DOGE looks like a relatively safer bet.
- Supply : Currently, DOGE, the native token of Dogecoin, has no cap. The original 100 DOGE coins were all mined in 2015 due to the block time of only 1 minute, which allows miners to mine more than 10,000 new DOGE coins in a minute. After that, the community decided to issue about 5 billion DOGE coins per year.
- What drove the price: DOGE has been consistently supported by Elon Musk, initially through Memes, then with the acceptance of DOGE as a payment method in Space X. New users have been using DOGE to participate into cryptocurrencies.
- Personal opinion : It is difficult to maintain a stable price compared to the number of coins produced daily. Additionally, the DOGE coin is essentially not being used by any major crypto projects. The price has entered a bubble and any further rise is highly speculative. Think twice, invest wisely!
Follow the latest Dogecoin project activities here .
Shiba Inu (SHIB)
Shiba Inu is a cryptocurrency developed by an anonymous developer named Ryoshi in 2020. It is considered the “Dogecoin killer”.
If you want to invest in a cryptocurrency that is gaining more traction than most cryptocurrencies out there, then Shiba Inu could be your best bet. This coin was recently listed on Kraken, which has helped increase its popularity even more. Furthermore, AMC will accept payments for Shiba Inu from this quarter onwards. The move follows an agreement between crypto payment service Bitpay and AMC CEO Adam Aron.
Memes have become an increasingly popular form of cryptocurrency. This increase in popularity depends on the interaction they can attract, not any tangible utility or use case like other coins. Memes are a fun way to invest in crypto. The most important factor needed to gauge the success of any coin meme is the interest it is generating.
SHIB's financial backers, such as Bigger Entertainment, have played an important role over the past few months by contributing millions of SHIB-USD to help reduce the supply. You must provide credit when it is due. Shiba Inu has proven that it has a highly interactive community. So it will tick an important box. If the dev team maintains a steady stream of upgrades, the rally will become sustainable. For now, Shiba Inu will remain part of the conversation thanks to its popularity.
- Supply : SHIB is the native token of Shiba Inu. It is an ERC-20 token that uses the Shiba Inu breed as a security token and has recently seen an astronomical increase following the success of Dogecoin. The token has a limited supply of 1 million billion . 50% of this remains locked as liquidity to Uniswap, while the remaining 50% is managed by Ethereum co-founder Vitalik Buterin. In addition to SHIB, the Shiba Inu ecosystem also includes LEASH and BONE tokens.
- What drove the price: On Twitter, the administrator of this project once announced that they will be releasing a decentralized exchange (DEX) product called ShibaSwap in the future. This has also contributed to attracting more investors and capital inflows, causing the price of Shiba Inu to grow strongly in 2021.
- Personal Opinion : Like Dogecoin, the SHIB token supply is also unsustainable. However, the team sent half of them to Vitalik, with the aim of removing them from the circulating supply. So, the future value of these tokens will largely depend on whether or not the founders of Ethereum sell them.
Follow the latest Shiba Inu project activities here .
Dogelon Mars (ELON)
Dogelon Mars is a popular meme among crypto enthusiasts. Its rapid increase in value has quickly become one of the most sought after coins on the cryptocurrency market today. One can understand the reason. Elon Musk has been making headlines for years now, and it looks like he's finally found his true calling. The CEO of Tesla (and SpaceX) is more than just an electric car visionary; he is one of the biggest crypto enthusiasts.
His tweets are responsible for significant protests. And he is an active player in the crypto space. Last year, when the businessman and CEO of Tesla Motors said his company bought $1.5 billion worth of BTC-USD, the cryptocurrency jumped 20%. Similarly, he has anointed Dogecoin as “everyone’s cryptocurrency.” And suddenly, investors are throwing money at it as if there is no tomorrow. However, it is a double-edged sword. Musk has criticized Bitcoin in recent months, claiming that the cryptocurrency's high energy demands, and its broader environmental impact, are bad for humanity.
Like many other entrepreneurs, Elon Musk is pro-cryptocurrency and has supported Dogecoin. His influence on Dogelon Mars is significant – he is a key driver behind Tesla Motors disrupting automotive history by breaking age-old stereotypes with his electric vehicle. This has changed the way we think about fuel efficiency values as well as charging stations. The Dogelon team is inspired by Elon Musk's dream of colonizing Mars and they are marketing their token as an interplanetary currency. We'll see how that plays out for them, but right now, it's one of the top-rated memes in the crypto world!
- Supply: There are a total of 1 trillion ELON tokens (equal to the number of Shiba Inu tokens, with 15 trailing zeros, a huge number). Of which: 50% of the supply was donated to Vitalik Buterin, and he transferred the majority to the Biomedical Charity Methuselah Foundation. 50% of the supply is added to the ELON/ETH liquidity pair, which is then permanently locked in the Uniswap liquidity pool.
- Personal Opinion: Dogelon Mars has similar tokenomics to many other projects built on the Ethereum blockchain, so it doesn't stand out in this highly competitive crypto market. This has made it less believable in the eyes of many serious investors, also because it has always been considered a meme coin. However, Dogecoin and Shiba Inu are both meme coins, but these two coins paint a very different picture for this group of memes, so we should not underestimate Dogelon Mars. Objectively speaking, what makes Dogecoin and Shiba Inu coin successful is its community. And it seems that Dogelon Mars also follows this formula. Its current position is entirely thanks to its community and interesting fiction story.
Follow the latest Dogelon Mars project activities here .
MonaCoin (MONA)
Monacoin (symbol: MONA) is a peer-to-peer (P2P) cryptocurrency that was hard fork from Litecoin (LTC) on January 1, 2014. Initially, Monacoin (MONA) used Litecoin's algorithm Scrypt, but then MONA switched to running on the same Lyra2REv2 algorithm as Vertcoin (VTC), Verge (XVG). Accepted in 2013, MonaCoin is an internet meme based on a cat-like figure launched by an anonymous developer Mr. Watanabe, who has yet to be identified.
- Supply: The token has a maximum supply of 105 million, which is completely different from the other meme tokens we discussed. Furthermore, the coin is approved by the Financial Services Agency of Japan.
- Personal Opinion : Although MONA falls under the category of meme coins, there are a few things that set it apart, including pricing, real-world use cases, regulatory benefits.
High Finance (HIGH)
Hoge Finance claims to be the original Defi project driven by the community towards rewards for user holding. HOGE's slogan is "we are in the meme business". Hoge Finance also has an NFT collection on OpenSea called The Hoge Moments.
Hoge Finance has also taken a number of initiatives when it comes to charities. Hoge Finance raised over $20,000 running their #SaveTheAnimals Twitter campaign.
- Supply : HOGE is a Hoge Finance meme token with a max supply of 1 trillion. The token has a deflationary supply mechanism, which means the total supply will decrease over time.
- Personal Opinion : While HOGE is new to the community and hasn't gained traction yet, its real-world market use case has put it above the coin meme without any guidelines. any basic. The project is still in its infancy and its potential is likely to be revealed soon.
Follow the latest MonaCoin project activities here .
Through this article, you must have had your own opinions about the Meme Coin projects as well as the above Toplist. The above article should not be viewed as investment advice. Beat Investments is not responsible for any of your investment decisions, but will support you all the way to understand the basics and succeed in this extremely potential market!