Any cryptocurrency that takes its inspiration through a meme is a meme coin. Dogecoin was the first meme coin that started the journey in 2013. The cryptocurrency portrays Shiba Inu. Although Dogecoin was a meme coin, it became one of the top four largest cryptocurrencies during the last year’s beginning. Just like Dogecoin, there are other meme coins getting popular these days. Despite having much worth, they are getting more and more viral through social media platforms. Social media is responsible for the success of these meme coins. Now, in this article, we will look at the top five meme crypto coins of 2022.
Five Meme Crypto Coins For This Year
The list of the popular meme coins cannot start without this coin. Dogecoin has really inspired people to take a chance in the crypto world as a joke. Elon Musk made this cryptocurrency viral through tweets. Dogecoin works on the Proof of Work consensus algorithm. So, you can mine Dogecoins after joining the mining pool. Dogecoin has an unlimited maximum supply and that makes it something full of risks. Bitcoin and Ethereum may take a lot of time to complete transactions. However, Dogecoin can complete multiple transactions within a matter of seconds. You should invest in this meme coin.
2. Shiba Inu
This meme coin is a tough competitor of Dogecoin and is also known as the killer of Dogecoin. In today’s time, Shiba Inu is the 13th largest cryptocurrency in the market. It is gaining traction in all the terms. The difference between the all-time low and all-time high is very wide for this cryptocurrency. Last year only, its lowest price was $0.0000000001194 and the highest price was $0.00008845. That rise in the upcoming years could really make you a millionaire. The latest news on cryptocurrency is now focusing on the future of Shiba Inu. It will definitely beat others.
3. Dogelon Mars
If there is any meme coin that is following the Doggy duo with all its faith, it is Dogelon Mars. This is also a fan token inspired by Elon Musk. There are about 557 trillion Dogelon Mars tokens in the circulation supply. About 50% of the crypto tokens were transferred to Vitalik Buterin in an effort to burn tokens from circulation. You have to use a crypto wallet like MetaMask to HODL it. Since its launch, the meme coin has surged more than 3700%. The four meme attributes of Dogelon Mars are Elon Musk, Doge, Mars and Moon.
4. Akita Inu
Akita Inu is another meme coin inspired by Dogecoin. Last year only, it was released on Uniswap. So, it can be recognised as an ERC 20 token without a single doubt. The attributes are nearly identical to those of SHIB. The Akita team has locked 50% of its available quantity on the decentralized exchange, whereas the other 50% was delivered again to Vitalik Buterin. Nevertheless, the entire circulation supply is 100 trillion, which contributes to one-tenth of the available quantity of SHIB coins. Akita is not one of the top 10 meme coins, but you should not ignore it. It has a huge potential.
SafeMoon is yet another newbie that is on the rise. A token from the BEP-20 category. It encourages long-term investors by imposing a 10% early termination fee on sellers. That has piqued the interest of individual owners after skyrocketing in April. The three primary functions of this meme coin are Burn, Reflection and LP Acquisition. There are more than 700 trillion tokens in circulation. The three pairs are available in USD, GBP, and EUR. You can trade with the exchanges like PancakeSwap, ZBG, BiKi, Hoo, Bitbns, Bittrue. Include this meme coin in your crypto portfolio.
Risks With Meme Coins
These cryptocurrencies may have experienced a tremendous rise during 2021, but traders and investors should be aware of the risks involved. To begin with, the attributes of these currencies are quite troubling. Let us consider Bitcoin. Bitcoin has a vast network, a detailed whitepaper, a mature community, and a depreciating character. In past years, we have also seen increased institutional acceptance of Bitcoin. Many meme currencies, in comparison to Bitcoin, are unsustainable, having no limit. Their environment, applications, and basics are frequently established by the collective humour from their communities. So, while investing in these coins, look for the latest news and updates.
As fresh meme crypto coins are hitting the market every day, traders are trying to emulate the returns achieved by the ones previously. You should do your research before making any move for these cryptocurrencies. Remember that every cryptocurrency is quite volatile. You should never take risks with all your money. It is a bad thing. Cryptocurrencies are fraught with danger. They are heavily driven by their respective communities and may fall abruptly. If you want to be safe, pick them after consistent analysis and add them to your crypto portfolio. Do not forget about cryptocurrencies other than these meme coins.