But first, let me explain meme coins and their market position. Meme coins have recently acquired greater traction than major cryptocurrencies such as Ethereum and Bitcoin. Dogecoin and Shiba Inu are the top two meme cryptocurrencies on the market right now.
What Are Meme Coins?
Meme coins are cryptocurrencies inspired by popular social media sarcasm, jokes, and puns.
At the time, there were around 124 meme coins.
According to Coin Gecko’s research, Dogecoin, which has a market worth of $35 billion, was created in 2013 as a joke. It is now selling at roughly 27 cents. Shiba Inu, also known as Ryoshi/Dogecoin killer (as referred to by the supporting community), ranks ninth with a market value of 38 billion dollars. It was created in 2020 by an anonymous individual to mock Dogecoin. Shiba Inu hit an all-time high of 0.00008616 dollars/token on October 26, 2021 best meme coins.
10 Top meme coins
- Mona coin
- Dogs of Elon
- Dog dash
- SHIBA INU
- Samoyed Coin
- Dogelon Mars
- Hoge finance
The distinction between Memes Coin and Mainstream Cryptocurrencies
Cryptocurrencies are established with unique technology to increase trade and transaction volume in the crypto market, whereas are not made with such specific or intrinsic use and values. These elements are absent in Meme coin, which is teeming at the seams with community-driven activities.
It has all the trappings of reckless gambling if you will. Sharat Chandra, a blockchain and emerging tech enthusiast, stated that the recent ups and downs of Squid Games token are proof that investing in meme coins isn’t depressing or connected with rewards and dangers.