A meme coin is a type of cryptocurrency that is created based on a popular meme. The main feature of these coins is their volatile price, which tends to change more frequently and drastically than established cryptocurrencies, like Bitcoin and altcoins. The price fluctuations of meme coins can be attributed to various factors, but their lack of solid fundamentals and utility is often the primary reason. Additionally, meme coins rely heavily on community support to keep the meme relevant and generate hype, which can lead to short-term popularity and investments. This fluctuating hype also contributes to the wild price swings that meme coins experience. While some traders have become wealthy through investing in meme coins, many others have suffered financial losses due to their market volatility.
Popular meme coins
PEPE (PEPE)
PEPE is an Ethereum-based deflationary memecoin that pays tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s. The project is trying to establish itself as one of the top meme-based cryptocurrencies by taking advantage of the popularity of meme coins like Shiba Inu and Dogecoin. PEPE is appealing to the cryptocurrency community by implementing a no-tax policy, a redistributive system for rewarding long-term stakers, and a burning mechanism to maintain scarcity of the PEPE coin.
PEPE’s explosive surge in late April to May 2023 caused its market cap to reach a high of $1.6 billion, creating millionaires out of early holders and attracting a strong community of like-minded followers. This event has been called a “memecoin season,” and it has caused other memecoins to go on pumps and dumps. It is unknown if PEPE and other memecoins will reach new highs, but many bagholders hope they will.
DOGECOIN ($DOGE)
Dogecoin is a digital currency that originated from a popular internet meme featuring a Shiba Inu dog. It was created by Billy Markus and Jackson Palmer in December 2013 as a lighthearted and fun cryptocurrency that would have a wider appeal than Bitcoin. The coin was forked from Litecoin and is open-source. The Dogecoin logo features the Shiba Inu dog from the meme. The cryptocurrency gained attention when Tesla CEO Elon Musk posted several tweets expressing his support for Dogecoin, calling it his favorite coin.
SHIBA INU ($SHIB)
The SHIBA INU website claims that SHIB is the “DOGECOIN KILLER” and is traded on their own decentralized exchange (DEX) called ShibaSwap. SHIB was created anonymously in August 2020 by someone using the name “Ryoshi,” who considers themselves unimportant and unremarkable. Attempts to uncover Ryoshi’s true identity would be underwhelming, according to him.
Despite being a meme coin, SHIB gained popularity and value due to its cute design and endorsements from high-profile figures like Elon Musk and Vitalik Buterin. Many people believed that Buterin, the creator of Ethereum, was the mastermind behind Shiba Inu, but he denied the rumors during an interview with Lex Fridman on June 5, 2021.
MILADY MEME COIN ($LADYS)
The latest addition to the meme coin frenzy is the Milady Meme Coin, which has seen a surge in value during the current memecoin season. The Milady Maker NFT collection was launched in August 2021, and on May 7th, 2023, a meme coin named after it was introduced to the crypto market. Like many other new tokens that have surfaced during this season, LADYS is also anonymous, with no formal team behind it. The tokenomics are typical for a meme coin, with a massive total supply of over 888 trillion, the majority of which was sent to the liquidity pool.
The official website of the Milady meme coin states that it was created for the Milady community, with a part of the initial LADYS airdrop reserved for Milady NFT holders. There is a clear connection between the two crypto assets, although they do not link to the same socials. The website also makes it clear that the LADYS coin has no affiliation with Charlotte Fand or her creation Milady Maker, but is simply paying homage to the beloved NFT collection.
ARBDOGE ($AIDOGE)
ArbDoge AI is not a conventional project, but rather an experiment within the Arbitrum ecosystem. There are no VC institutions or team shares involved, and all tokens will be distributed equitably to the community as a starting point. The creators of the ArbDoge AI protocol are a group of AI entities who have a strong interest in Arbitrum and want to collaborate with the community to build a powerful lineup of products that integrate AI and Web3 technologies. The success and progress of AIDOGE depend on its code, and the team is enthusiastic about accumulating $ARB.
FLOKI ($FLOKI)
The Floki cryptocurrency is an utility token of the Floki Ecosystem and is considered the people’s cryptocurrency. It was created by members and fans of the Shiba Inu (SHIB) community and named after Elon Musk’s Shiba Inu, Floki. The community, known as the “Floki Vikings,” pays homage to Floki by naming themselves after the Viking character. Floki takes its community efforts seriously and has been listed several times on LunarCrush’s social engagement leaderboards. The project has also collaborated with other leading crypto ventures such as Chainlink, Trader Joe, and ApeSwap to develop its FlokiFi Locker digital asset locker protocol.
WOJAK ($WOJAK)
WOJAK is a crypto project that is striving to develop a decentralized platform using memes to connect people. The inspiration for this project comes from the internet meme WOJAK, which is a cartoon face that represents various emotions. The cryptocurrency WOJAK will serve as the native currency of the platform, allowing users to buy, sell, and trade memes, take part in community events, and connect with like-minded individuals from all over the world.
This platform will use blockchain technology to establish a secure and transparent environment for meme enthusiasts to express themselves creatively. It will feature an easy-to-use interface, intuitive navigation, and strong security protocols to ensure safe and seamless interactions between users. WOJAK’s objective is to give individuals the power to connect with others who share their interests, create new relationships, and build communities based on shared values and experiences.
BABY DOGE COIN ($BABYDOGE)
In June 2021, the cryptocurrency BabyDoge was launched, and it has an ambitious plan to expand its reach through charitable efforts for pets, NFT creation, GameFi, and other ventures. BabyDoge has its own AMM, core farms, farming-as-a-service, free token locker, burn portal, and other features on its Swap BabyDogeSwap.com. The community around BabyDoge has grown significantly, with over 1,300,000 token holders, 200,000+ members on Telegram, 880,000+ followers on Twitter, and 245,000+ followers on Instagram.
Additionally, BabyDoge aims to have real-world utility, which is rare in meme cryptocurrencies. It plans to have a BabyDoge card and mobile application, integrate with top e-commerce platforms through partnerships with Coinpayments, and make donations to animal rescue and shelter organizations such as Paws with Cause, Furkids, Best Friends, ASPCA, and the Humane Society.
How to Find the Newest Cryptocurrencies?
Presales offer investors the opportunity to acquire tokens at a significantly lower cost than what they would pay when the token is listed on a major exchange for public trading. This is particularly true for popular crypto projects that gain traction over time. Consequently, researching and keeping tabs on upcoming token launches is one of the most effective strategies for identifying promising crypto coins to invest in.
