Will Meme Coins Explode in the Future? Which Will Dominate the Market?
Meme coins have been around the corner since 2013 when Dogecoin (DOGE), the first-ever meme coin, was launched as a parody to Bitcoin (BTC). Despite being “memes” and cryptocurrencies that are developed without many functionalities to offer, many crypto enthusiasts still took these coins seriously. Currently, Dogecoin (DOGE) is one of the top coins by market capitalisation, along with other meme coins.
What meme coins are now included in the top list?
Well, here’s a straight answer to that question! Listed below are the top 4 meme coins and their recorded market capitalisation according to CoinMarketCap:
- Dogecoin (DOGE): $29,805,681,766
- SHIBA INU (SHIB): $24,108,919,811
- Dogelon Mars (ELON): $924,847,939
- Samoyedcoin (SAMO): $273,044,496
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Associated Risks of Investing in Meme Coins
Meme coins may have grown at an accelerating rate lately, but trading and dealing in meme coins, like other cryptocurrencies, has a significant level of risk. If you are interested in investing in meme coins, you should be aware of the following potential risks:
- The majority of meme currencies are inflationary and have no limit on supply. Only a handful of meme coins were created using significant cryptocurrency technologies. DOGE, for example, is based on the Litecoin (LTC) blockchain, whereas SHIB is based on the Ethereum (ETH) blockchain.
- Meme coins are high-risk investments. To take advantage of demand increases, you’ll need to keep a constant eye on price swings.
- As the meme coin market grows, be wary that certain projects may take advantage of the popularity to defraud traders. You may have heard of the Netflix series Squid Game, which has recently gotten a lot of buzz. The said series, which had a digital coin based on it and billed itself as a “play-to-earn cryptocurrency,” was recently exposed as a hoax.
Overview of Top Meme Coins in 2021
Dogecoin (DOGE)
Price: $0.2253
Over-all Rank: 10
Dogecoin (DOGE) was created as a parody of cryptocurrency to draw attention. However, due to the nature of the internet, Dogecoin’s (DOGE) popularity and value had risen significantly in recent years, peaking in 2021 when Elon Musk tweeted favourably about it. As a result of Dogecoin’s success, more meme coins entered the market.
SHIBA INU (SHIB)
Price: $0.0000439
Over-all Rank: 11
SHIBA INU (SHIB) is rumoured to be the coin that will “kill Dogecoin” and succeed it in the market. Shiba Inu (SHIB) was created as an Ethereum-based alternative to Dogecoin’s (DOGE) Srypt mining method. The Ethereum blockchain, according to its developer, was the ideal host for SHIBA INU (SHIB) since it was already safe and well-established, and it allowed the project to remain decentralised.
Dogelon Mars (ELON)
Price: $0.000001627
Over-all Rank: 117
Dogelon Mars, a cryptocurrency named after Elon Musk, has lately risen in value thanks to a flurry of social media buzz and retail interest. A knife is a fork of a spoon, and Dogelon Mars is a fork of Dogecoin (DOGE) in the same way.
Samoyedcoin (SAMO)
Price: $0.1008
Over-all Rank: 278
Samoyedcoin (SAMO) is a meme coin based on if, is a community-owned and entertaining cryptocurrency. Its goal is to expand Solana’s (SOL) ecology by appealing to people outside of the core, which is mostly made up of high-tech coinage.
Price Predictions for 2022
Several known crypto analysts have something to say about what their future prices would be like.
According to WalletInvestor, these meme coins would be a great choice of digital assets to hold for a long-term investment. By the start of 2022, Dogecoin (DOGE), SHIBA INU (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) will reach the prices respectively $0.295, $0.000056, $0.000002 and $0.140.
Trading Beasts have also predicted what the top 2 meme coins would be in the future. By the beginning of January 2022, the Dogecoin price is expected to rise to $0.2896633, while SHIBA INU (SHIB) is predicted to hit $0.0000521.
On the other hand, Digital Coin Price seems to be quite optimistic about the price performance of Dogelon Mars (ELON) and Samoyedcoin (SAMO). In a year, the price of 1 Dogelon Mars (ELON) might reach as high as $0.0000031036, nearly doubling the present price. While the price of one Samoyedcoin (SAMO) might reach as high as $0.1958869046.
DISCLAIMER: The information contained in this article is for educational purposes only and should not be interpreted as financial advice. You should be aware that the crypto market is quite volatile if you decide to become involved in it. It is critical to maintaining emotional control when trading currencies. Dealing with digital assets should only be done if you are well aware of the dangers. If you are new to crypto trading, it may not be advisable to use auto-bots.
You should research your chosen digital asset(s) and get counsel from a licensed financial advisor before engaging in any investment-related activity. Each trader has an exciting journey to take. Thus, your market success is determined by your devotion, determination, and hard work.
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Bitcoin Prime is a great place to start if you’re new to trading. You may register for an account and start trading digital assets, including Bitcoin (BTC), Ethereum (ETH), Dash (DASH), and Dogecoin (DOGE) (DOGE).
