Meme coins have taken over the crypto world. Attracting not only the general public but also renowned personalities who endorse them. This widespread endorsement has fueled a surge in demand within the crypto community. However, for newcomers to this space, navigating through numerous options to find the most promising meme coins can be pretty challenging.
This article examines the upcoming meme coins anticipated to gain momentum in 2023. It also offers insights into the recommended meme coins to invest in for the year, as well as the preferred platforms for purchasing and investing in these coins at affordable rates.
What Exactly Do Meme Coins Refer To?
Many people may be surprised to learn that several meme coins have gained more popularity than even traditional cryptocurrencies like Bitcoin and Ethereum. As per the market capitalization rankings on Coinmarketcap.com, Shiba Inu and Dogecoin, two prominent meme cryptocurrencies, currently hold positions among the top eleven.
Continue reading as we delve into the answers to questions surrounding meme coins. We will explore what exactly meme coins are, their value as potential investments, and where they fit within the market.
Meme coins, or digital money based on famous internet jokes, irony, and puns, have grown in favor.
Currently, there are 124 meme coins available in the market. Among them, Shiba Inu and Dogecoin stand out as the most well-known options.
Top Meme Coins to Invest in 2023: Meme Coin Index
Wall Street Memes (WSM)
The presale of Wall Street Memes, which was recently launched, has achieved an impressive surge, surpassing $400,000 within just 48 hours. Its rapid growth potential is drawing comparisons to the success of Dogecoin. This new venture is developed by the same team behind Wall St Bulls NFT, whose previous project famously sold out in a remarkable 32 minutes during 2021. Notably, Wall Street Memes is closely associated with the popular subreddit r/W.
RephraseWall Street Memes is generating hype with their upcoming Ordinals NFT collection, which is limited to 420 editions. This demonstrates their expertise in viral crypto projects. What sets Wall Street Memes apart is that it’s a community-driven initiative without any team token allocation.
Participants in the presale will receive early access and have an opportunity to win a $10,000 $WSM token through an airdrop. With over $20 million already raised, the project is currently in its 27th stage out of a 30-stage presale.
Shiba Inu (SHIB)
Investing in a cryptocurrency that’s gaining popularity is a good option, and Shiba Inu seems to be the right choice. Recently, it got listed on Kraken, which further boosted its momentum. Moreover, AMC (NYSE: AMC) has announced that they will accept Shiba Inu as payment this quarter, following an agreement with Bitpay, a renowned cryptocurrency payment service. AMC CEO Adam Aron initiated this move.
Bigger Entertainment and other financial backers play a crucial role in reducing SHIB’s supply. Their substantial contributions, amounting to millions of SHIB-USD, have been impactful in recent months.
The Shiba Inu coin garnered public attention in 2022 when it emerged as a popular meme coin. It reached an all-time high price of $0.000084 on October 28, 2021, showcasing an extraordinary increase of 150,000,000% since its initial release in August 2020.
The graphic depicts Shiba Inu were expanding more rapidly than Dogecoin in terms of market cap. Both cryptocurrencies dominate the global meme coin narrative and exhibit high volatility primarily driven by speculative trading and transactional objectives.
Many researchers and professionals in the cryptocurrency field express concerns about a looming significant correction. This anxiety stems from the Shiba Inu, the coin’s quick surge in value.
In 2013, Dogecoin was introduced as a peer-to-peer (P2P) open-source cryptocurrency. It emerged in response to the dominance of established crypto giants like Bitcoin and Ethereum, aiming to bring a lightheart
Dogecoin, an altcoin/meme coin, derives its classification from its name and emblem, drawing inspiration from a popular meme featuring the Shiba Inu dog. Despite originating as a joke, this currency operates on a blockchain that offers several advantages. Noteworthy among these benefits are an unlimited supply and a low price.
In 2021, this cryptocurrency emerged as one of the most valuable market capitalizations, soaring to approximately $80 billion in value. Each token held a modest worth akin to just a few pennies.
The growth of this currency is expected to depend largely on the continuation of significant influencers promoting it. Additionally, boasting over 4.5 million Twitter and Reddit followers, the Dogecoin community serves as another influential factor.
The Dogecoin Foundation’s announcement to enhance the token’s utility by 2022 appears promising. However, the enthusiasm seems to diminish by 2023. The token’s price movement remains heavily influenced by Elon Musk’s tweets or Twitter’s recent rebranding of its iconic bird with DOGE.
The implementation of the ERC20 Token embodies the decentralizing and “Internet of money” concept, offering users remarkable potential. Unlike closed, limited tokens with restricted transactions and tools, the ERC20 Token is intentionally open-ended. We firmly believe that it serves as an excellent foundational layer for both financial and non-financial realms in the foreseeable future.
With a live market capitalization of $11.5 million, the current ranking on CoinMarketCap stands at #742. The circulating supply of ERC20 tokens is 1,128,632,512 with no maximum limit.
We’ve also written recent posts covering the following:
- Pepe Price Predictions
- WOJAK Price Predictions
SAMO made a strategic shift towards an experimental Web 3.0 community coin with a unique focus on fostering an extraordinary community. Furthermore, it aims to leverage the benefits of Solana and tap into the influence that dog coins possess when it comes to attracting new participants in the market, promoting their Layer-1 blockchain infrastructure, and establishing a presence in contemporary culture.
The SAMO NFTs collection comprising 5,525 unique and customized designs known as Samos was released in January. Priced at 1 SOL each, this exclusive collection sold out completely in just 7 minutes. If you’re interested in purchasing SAMO NFTs, you can find step-by-step instructions on how to do so through this link provided by eToro.
SAMO is a promising virtual currency to consider for investment. As of March 9, 2022, the price of the Samoyed coin was USD 0.0194. By investing $100 in Samoyed coins today, you will receive approximately 5144.853 SAMO.
According to our projections, the Samoyed price is expected to demonstrate long-term growth, with a price prognosis of 0.3087 US Dollars by March 6, 2027. Furthermore, after a 5-year investment, the estimated revenue is anticipated to increase by approximately +1491.24 percent.
The market position of Meme Coins
Dogecoin, a cryptocurrency that originated as a jest in 2013 and has achieved a staggering market value of nearly $35 billion, currently holds the prestigious No. 10 ranking according to CoinGecko. Its trading price stands at approximately 27 cents. Simultaneously, its rival token, Shiba Inu, was brought to life in 2020 by an anonymous individual known solely as ‘Ryoshi,’ aiming to satirize the crypto world.
Dogecoin currently holds 9th in the rankings, boasting a market capitalization of nearly $38 billion. Its counterpart, Shiba Inu (often referred to as the “Dogecoin killer” by its proponents), achieved an unprecedented peak price of $0.00008616 per token on October 26, 2021.
Best Exchange for Investing in Meme Coins
Today, investors have more alternatives than ever before for purchasing meme coins. eToro is our top recommendation for the finest cryptocurrency exchange:
eToro – Best Place to Buy Meme Coins
eToro provides a comprehensive trading experience, offering over 3,000 tradeable assets that cover a wide range of options. This includes more than 75 cryptocurrencies, as well as CFDs, FX, and exchange-traded funds. In terms of meme coins, eToro
eToro is highly recommended for both social copy and cryptocurrency trading. It excels in these categories, making it our top choice. eToro offers a user-friendly web platform and a mobile app perfect for casual investors and beginners.
eToro provides a solution for those struggling with trading meme coins by allowing them to replicate successful investors’ strategies. This feature makes trading such coins more accessible. Monitoring the market in the short term, particularly paying attention to Elon Musk’s tweets and other relevant factors, becomes crucial to gain insights and make informed predictions.
Risks of Investing in Meme Coins
Meme coins, typically created through copying and pasting code from existing cryptocurrencies, are often regarded as unserious ventures lacking significant enterprise. These coins tend to lack robust developer communities, which play a vital role in ensuring their security. Notably, Dogecoin’s development has experienced frequent periods of stagnation throughout its history.
Furthermore, meme coins often fall into the hands of a select few individuals who wield substantial amounts of currency and control thin liquidity pools. This susceptibility exposes meme coins to pump-and-dump schemes, wherein these influential holders manipulate the market by artificially inflating the price through orchestrated buying before swiftly selling off their entire holdings on the open market.
Meme Coins do not create a lot of backing on the way up throughout their bull cycle and experience significant losses, as DOGE and SHIB did in their early phases.
How much income should you put into Meme Coins?
Meme coins may not be suitable for individuals seeking to invest in cryptocurrency as a hobby or preserve wealth over time. Opting for more stable and established cryptocurrencies like Bitcoin or Ethereum could offer better prospects.
Even established cryptocurrencies can experience significant volatility. For those who prefer a more cautious and reliable approach, traditional investment strategies like stocks and index funds provide alternative options to avoid the risks associated with the unpredictable cryptocurrency markets.
A reasonable trading allocation for your portfolio is typically around 5 percent. For example, if your total portfolio value amounts to $10,000, it is advisable not to invest more than $500 in a single meme coin.
However, investors must be aware of the hazards involved and properly research any meme currency they want to invest in. It is crucial to consider the possibility of losing a significant portion or even the entirety of their initial investment. Our intention is for you to find this list of meme coins beneficial.
What is a meme coin?
A meme coin, derived from internet memes, represents a type of cryptocurrency. While these crypto assets often lack practical use, they rely on the collective enthusiasm of their community to appreciate.
Are meme coins suitable investments?
When considering investments in meme coins, several variables come into play. Firstly, these tokens lack utility, which diminishes their long-term appeal. This is crucial to note because it suggests that their value may not be sustainable over time. Additionally, the fate of meme coins heavily relies on community sentiment and involvement. A single misstep often leads to significant crashes and losses for investors. However, there are instances when market conditions align and indicators suggest a surge in interest for meme coins. In such cases, these assets could potentially offer lucrative short-term investment opportunities.
Are there risks of trading meme coins?
Trading cryptocurrencies carries inherent risks, which are even more pronounced when it comes to meme coins. These coins often lack perceived utility, leading most traditional investors to dismiss them. Moreover, their prices are heavily influenced by market volatility. However, it’s worth noting that the meme coin community can drive its value to astronomical heights through collective support. So while there are risks involved in trading meme coins, they may still appeal to short-term and low-cap investors.
What is the best meme coin in terms of ROI?
Dogecoin has always been the most profitable meme coin, boasting an impressive return on investment. As the original meme currency, it set the stage for other similar crypto assets by achieving remarkable exponential growth in the past. During its peak in the second quarter of 2021, DOGE witnessed an astounding surge of 9772%.
What is the newest meme coin to enter the space?
Multiple meme coins have emerged this year. However, the latest one that has captured attention is Wall Street Memes. Drawing inspiration from the legendary WallStreetBets incident, this meme-coin project aims to mobilize a community capable of generating wealth for investors through the power of memes.
What is the top trending meme-coin right now?
Dogecoin is currently the top trending meme-coin on CoinMarketCap. Shiba Inu follows it, and Pepe was recently added. Speaking of Pepe, it burst onto the scene in 2023 and quickly ignited the meme-coin mania. Its value skyrocketed by an astonishing 83,000%, making it the fastest token that year to reach a remarkable $1 billion market capitalization.
Is Shiba Inu dead?
The Shiba Inu cryptocurrency has faced recent challenges. However, it remains popular within the meme coin community and holds the distinction of being the second most trending meme coin, following Dogecoin. Therefore, one cannot conclusively declare its demise. Moreover, with the introduction of Shibarium and upcoming utility expansions in the Shiba Inu ecosystem, there is potential for revitalizing its value in the market.
Should I sell my Dogecoin?
Dogecoin, the leading meme coin in the world, has been trading sideways, around the $0.07, since early 2023. Despite its stability, this token has seen occasional price surges caused by Elon Musk’s Twitter activity in the past. These increases continue to occur. Therefore, for individuals who missed out on previous gains when DOGE reached its all-time high, it is advisable to wait for future announcements and consider selling their DOGE tokens. However, introducing a new utility for this token could potentially drive its value even higher – providing a strong incentive to retain your permits.
Do meme coins have utility?
The subjectivity of the answer to this question relies on the specific meme tokens under discussion. Originally conceived as a humorous asset to promote community engagement, memecoins have gradually evolved over time. Some have emerged with additional functionality, particularly within the play-to-earn (P2E) realm. One such token exemplifying community-centric utility is Wall Street Memes. Thus, depending on the type of token in question, meme coins can offer practical value.
Memecoins are often regarded as tokens of amusement, aligning with their humorous nature. This perception holds some truth, but it’s essential to acknowledge that once the community unites in support, their growth tends to follow a steep upward trajectory. During the onset of meme coin mania in the second quarter of 2023, many early contenders soared to new heights. However, it is worth noting that superior meme coins like Wall Street Memes have the potential to outshine their counterparts, given the tremendous success they achieved during their presale phase.