The cryptocurrency market worldwide has witnessed the launch of numerous digital coins or tokens over recent years. While Bitcoin was the first hyped cryptocurrency in the space, various new launches followed soon after witnessing Bitcoin’s soaring success. The term given to all other digital coins except Bitcoin was altcoins. While the market was flooded with various altcoins, it is when some people created Dogecoin to poke fun at the rapidly growing number of altcoins.
Dogecoin is a meme coin offering no unique, real-world utility but has built a strong following in recent years. Currently, the crypto space has over 5,000 meme coins trying to make their way to investors’ good books. While meme coins were started as a joke, they soon took off in no time. People that took a chance by investing early in meme coins managed to earn good profits in a significantly lesser time. It prompted others to start taking meme coins seriously.
As the wave of cryptocurrency in India is on the rise, some investors are finding it challenging to pick the best meme coins from the rest. To help you save some research time, we have curated a list of the top meme coins that deserve your attention. So let’s quickly check the top meme coins shared below.
The list has to start with the cryptocurrency that made meme coins popular among investors and crypto enthusiasts. Dogecoin is a dog-themed cryptocurrency that uses the famous Japanese dog breed Shiba Inu as its mascot. Although Dogecoin doesn’t offer any unique utility, its investors use it as a peer-to-peer payment method.
Owing to its popularity, some merchants have also started accepting Dogecoin as a valid means of payment, but the number of such merchants is still pretty low. Even though other meme coins are trying to take over Dogecoin, this cryptocurrency has managed to leverage its early entrance position to its advantage.
Touted as a Dogecoin killer, Shiba Inu is a popular meme coin that has gained millions of users or investors in a relatively shorter time. What gives Shiba Inu an edge over other meme coins, especially Dogecoin, is that it is an ERC-20 token. Since Shiba Inu is an Ethereum-based cryptocurrency, it can execute smart contracts.
This single feature gives Shiba Inu an edge over Dogecoin. Since its launch, Shiba Inu has enjoyed positive online press and community support, making it reach the top five spots of the most popular meme coins. If you’re a beginner and don’t want to take any risk by investing in random meme coins, you can consider investing in Shiba Inu.
Many investors buy Dogecoin during their early trading days because they don’t know which meme coins to add to their portfolio for better returns. But with easily analyzed reports shared by crypto experts nowadays, people can easily look up these resources and determine whether a particular cryptocurrency is for them or not. Coming to lucrative meme coin investments, Floki Inu comes third.
This meme coin aims to combine the power of utility and memes seamlessly. Although various things make Floki Inu a desirable meme coin, the one feature that separates it from the rest is its Valhalla NFT metaverse game. It is a play-to-earn (P2E) game that uses A-level mechanics and offers upgradable NFTs.
An open-source decentralized cryptocurrency, MonaCoin is quite popular in the meme coin space. It can be best defined as an advanced peer-to-peer payment network that uses Lyra2RE as its algorithm. If you’re searching for meme coins that don’t solely depend on the social media hype for their market valuation, you should consider investing in MonaCoin.
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MonaCoin was launched in 2014 and is based on Litecoin’s hard fork. Like other decentralized projects in the cryptocurrency space, MonaCoin doesn’t belong to one person but all its users. The technology used to build MonaCoin makes the entire platform self-governing and independent.
Last on the list is Gaming DOGE, a meme coin that brings together gamers and meme coin enthusiasts, particularly DOGE lovers. This meme coin was created out of the need to develop an ecosystem that offers NFT games, crypto exchange, and an NFT marketplace.
Gaming DOGE wanted to create the ultimate community for gamers worldwide, and it has succeeded to a certain extent. Gaming DOGE can be one of your best investments if you’re a gamer interested in the cryptocurrency world. It has the scope to grow into a really big meme coin in the coming decade.
Invest in Meme Coins with Long-Term Prospects
Now that you’re aware of the various meme coins you can consider for your portfolio; you no longer have to waste more time looking for more options. However, we’d suggest investing in meme coins that align with your investment goals.