The evolution of the crypto space has been an example of how continuous change and improvement can introduce innovative solutions. You must have noticed how the first cryptocurrency, Bitcoin, established the foundation to create new cryptocurrencies. Interestingly, the crypto landscape can also draw inspiration from memes to create new coins. Meme-based cryptocurrencies have gained significant traction due to social media trends, irrespective of their volatile nature. You can use a meme coins list to identify the best picks for investment when you have higher risk tolerance. Let us find out the best meme coins to buy that have been making waves in the crypto industry.
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Discovering the Top 10 Meme Coins for You
Meme coins are unique crypto projects that blend social media trends with the utility of cryptocurrencies. In the initial days, people thought that meme coins are a joke and cannot contribute anything significant to the crypto landscape. As of now, meme coins have the strongest communities in the crypto industry with most of the meme coins running by the decisions of the community. It is important to remember that the value of meme coins depends on trends in popular culture and endorsements by high-profile individuals. You can try adding the following meme coins to your crypto portfolio if you have reasonable levels of risk tolerance.
1. Dogecoin
Dogecoin leverages the Proof of Work consensus mechanism that requires the use of computational power to find solutions for complex mathematical problems. You should know that Dogecoin gained endorsement from Elon Musk in 2021 and has experienced high price volatility. The primary applications of Dogecoin focus on microtransactions, online tipping and donations to charitable initiatives. The blockchain-based payment mechanism complemented with low fees makes Dogecoin a worthy meme coin for investors.
2. Shiba Inu
The primary goal of Shiba Inu developers revolved around creating a decentralized community of SHIB token holders. The community plays a major role in governance decisions for the Shiba Inu meme coin project. You must know that the SHIB token has also showcased high volatility as its primary applications focus on speculative trading.
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3. Dogwifhat
WIF has achieved success on the back of its strong community along with strategic listing on big crypto exchanges. It is also important to note how the Solana ecosystem empowers the Dogwifhat meme coin with better functionalities. Experts have suggested that the significant growth in price of WIF has been driven by the strength of Solana and growing interest from whales.
4. Gigachad
GIGA capitalizes on the alignment of the meme with traditional masculinity in popular culture. On top of it, the meme coin has also strengthened its base with high-profile collaborations. GIGA has entered into partnerships with a UFC fighter and a luxury fitness brand alongside achieving listings on major exchanges.
5. Floki Inu
The utility of FLOKI in the web3 space with use cases in NFTs, DeFi and its own metaverse indicate its potential for long-term growth. FLOKI serves as a multi-chain token that works on Ethereum and BNB chain to facilitate interoperability. The metaverse of the Floki Inu project, Valhalla, has also been grabbing attention that may play out in its favor.
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6. Pepe
The project was introduced to create a memorable meme coin albeit without any intrinsic value. The founders have pointed out that it is tailored for entertainment only. Within a brief trading period, the PEPE coin has grown by more than 400% since its launch. The circulating supply of PEPE is around 420 trillion and has gained substantial popularity even with considerable risks.
7. Bonk
The dedicated followers of Bonk have played a major role in elevating its market capitalization and popularity in crypto industry. Bonk relies on social media interactions, memes and engaging narratives to increase its appeal as a meme coin. It is also important to note that Bonk has the potential to expand further with community support.
8. Peanut the Squirrel
PNUT is one of the notable entries in this meme coins list as it showcased an impressive growth of 800% in the first week. It has achieved a market capitalization that exceeds $420 million and has received support Elon Musk.
9. Popcat
Popcat achieved a spot among top meme coins after it shifted to community-based governance. The transition to complete decentralization led to a significant surge in the price of Popcat by almost 5000%. On top of it, the community engagement with Popcat also provides the ideal foundation for its continuous growth.
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10. Cats in a Dogs World
The strong recovery potential of MEW meme coin makes it a worthy addition among the best meme coins. On top of it, the founders of MEW meme coin have entered into collaboration with LOCUS Animation to come up with a 3D animated series.
Final Thoughts
The insights on top meme coins that you should add to your portfolio now reveal a lot about the crypto space. Meme coins don’t have distinctive utilities like protocol tokens or dApp tokens. On the contrary, meme coins rely completely on social media trends and memes in the popular internet culture. You can find some meme coins that rely on speculative trading while some have transitioned into web3 projects. Learn how to pick the best meme coins and participate in a new crypto culture now.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!