Meme coins are digital assets that are inspired by internet jokes and memes. Cryptos in this category do not have much utility but have made an impression on the market. They are one of the weirdest phenomena to come out of crypto. Dogecoin falls into this category because it originally started as a joke.
However, despite being set up to make fun of the big players, Dogecoin has become one of the biggest names in the industry. There has also been a plethora of other meme coins coming to the market to make an impact. At the moment, there are over 200 meme coins in circulation.
With many digital assets showing an upward trajectory, the crypto market has seen a remarkable surge across January 2023. Meme coins have shown phases of price breakouts, creating excitement among investors and traders as they look to see if the trend can continue.
However, since there are too many options, getting the best meme coin to buy can be a tad difficult, especially for users that are not yet familiar with how the space works. Given this, we have come up with a list of three meme coins that have the potential to rally in the coming months.
Safemoon is a shitcoin that was designed to encourage long-term investment. The SafeMoon token is designed to encourage people to hold onto their tokens.
Theoretically, anyone who sells a SafeMoon token will be subject to a 10% sales tax. Of this money, 40% of the taxed money is redistributed to the people still holding the token, while 30% is given to the SafeMoon system’s liquidity pool, 20% is burned, and 10% is sent to a growth fund.
A perk of SafeMoon is that the meme coin is fundamentally safe since it is designed to withstand market volatility. There is also a sentiment that comes from the crypto rallying cry of “to the Moon!” which is generally used to suggest that a coin or token can potentially help investors make a lot of money. The SafeMoon protocol is community-driven, and according to its website, it has three basic functions: Reflection, LP Acquisition, and Burn.
The platform plans to develop by offering a P2E metaverse gaming platform, providing additional rewards to token holders. With this and other developments in the works, SafeMoon is a coin you should look into.
Akita Inu is another meme coin named after a slightly different breed of Japanese dog. It styles itself as the ‘little brother’ of Dogecoin and Shiba Inu.
Akita Inu has focused on the community from the outset. According to its website, the developers behind Akita Inu wanted to build a community first, then work to turn their meme coin into a fully-fledged cryptocurrency with “various use cases”.
The meme coin is built on Ethereum and shares many similarities with Shiba Inu. However, the Akita Network has announced that it has moved to Avalanche and now offers cross-chain interoperability. With its 100% decentralised community and hype-based indications that the meme coin could outshine Shiba Inu soon, it is one of the meme coins you can bank on.
The second largest meme coin after dogecoin, the dog-themed Shiba Inu has had a solid start to 2023, with a 16.86% increase in the last week. Shiba Inu’s growth may have been aided by an optimistic crypto market and favourable developments in its ecosystem, such as the SHIB team unveiling key concepts of the long-awaited layer 2 blockchain Shibarium.
Shiba Inu has not tried to hide its meme coin credentials and has always been a community-driven project. According to its website, the Shiba Inu project will soon enter the Metaverse with the virtual real estate platform Shiba Lands. These developments make the digital asset one of the best meme coins to look out for.
Meme coins have been described as short-term fads driven entirely by popularity, with no genuine value or real-world use cases. They are also noted for their high volatility.
However, we can argue that the case against meme coins isn’t peculiar to them. Other altcoins have high volatility with little or no use case. So if meme coins maintain their popularity, then there’s every chance we will continue to see these sudden price spikes.
Nevertheless, it is important to note that meme coins are riskier investments than stable cryptocurrencies. As such, investors need to consider the uniqueness and community behind each project rather than go by their current popularity and hype.
The unpredictability of the cryptocurrency market is thrilling and makes high-potential meme coins good buys. Since they tend to pump hard and fast, it is essential to take profits on investment as soon as they come before it starts going in the other direction.