Meme coins are digital tokens based on internet memes and cartoonish characteristics. Once considered a joke, they have grown to represent a significant percentage of the crypto market. This article will explain meme coins and the best ones you can buy today.
What Are Meme Coins?
As mentioned, they are digital coins based on humorous characteristics and internet memes. Most were created as a joke but somehow came to occupy a large swath of the crypto markets.
Dogecoin is the first meme coin that made it to the mainstream. Two software developers created this coin to make fun of rampant speculation in the crypto markets. Somehow, it became exactly what it made fun of. Dogecoin surged in popularity after an endorsement from Elon Musk, the prominent American billionaire entrepreneur. Since then, many other meme coins have emerged and carved out a good slice of the crypto markets.
The Best Meme Coins To Buy
1. Dogecoin (DOGE)
Dogecoin is the original meme coin that paved the way for other similar coins. It’s based on the “doge” internet parody comprising the picture of a Shiba Inu dog breed accompanied by text. This token was founded in 2013 and grew viral shortly after. It developed a massive online following and exploded in value, peaking at $85 billion in 2021.
Dogecoin has fallen significantly from its peak market value. It trades at about $8 billion (as of writing). Yet, it remains the meme token with the highest demand and, consequentially, market value. It represents a good investment opportunity for people who believe the crypto market can rebound from its current lows.
2. Shiba Inu (SHIB)
Shiba Inu is a token based on the popular Japanese dog breed of the same name. It was launched in 2020 by an anonymous person or team using the pseudonym “Ryoshi.” This token is very similar to Doge; they have the Shiba Inu dog breed as mascots.
This coin became popular after the developers donated half the circulating supply to Vitalik Buterin, a prominent crypto entrepreneur best known for co-founding Ethereum. Buterin donated the whole gift, drawing goodwill across the globe.
Shiba Inu remains one of the most popular meme coins in high demand. It has a market value of over $4 billion (as of writing), and daily trading volume runs into tens of millions.
3. Dogelon Mars (ELON)
Dogelon Mars is a parody token based on another parody token. It’s based on the Doge meme and Elon Musk, the famous entrepreneur and Dogecoin fan. Musk always talks about his idea of building a human colony on the planet Mars, hence the combo “Dogelon Mars.”
This token was launched in 2021 and became viral shortly after, thanks in part to its association with Elon Musk. It hit an all-time high in November 2021, but has fallen significantly since then, alongside most other tokens.
This token’s strength lies in its fanbase and community support. It has little utility beyond speculation, yet is a good one to buy because of its growing fanbase.
4. MonaCoin (MONA)
MonaCoin was created in 2013, the same year as Dogecoin. It is based on a digital art character that takes the form of a cat. But, MonaCoin is unlike other meme tokens; it has considerable utility. It’s a unit of trade in its home base of Japan, accepted by a significant number of stores. You can buy this coin at many smart ATMs across Japan and sell at any time.
MonaCoin has a much lower market value than the likes of Dogecoin and Shiba Inu. Yet, it’s one of the most credible meme tokens out there.
5. Baby Doge Coin (BABYDOGE)
This is yet another token built to imitate an already popular meme token. This token promotes itself as Dogecoin successor, with a uniqueness of spreading awareness about dogs and donating to veterinary charities.
This token grew viral shortly after its launch in June 2021, shooting up 900,000% within days. However, it has fallen significantly like many other tokens. This token remains very volatile yet a good investment if you believe the crypto market is heading for recovery.